Term
___% OF OVERALL ADULT POPULATION HAS HL TOTAL: ___ MILLION INDIVIDUALS |
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Definition
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Term
-___ million people have profound loss; ___% (1.1 million) use hearing aids; ___% do NOT use hearing aids -___ million people have severe loss; ___% (3.2 million) use hearing aids; ___% do NOT use hearing aids -___ million people have mild/mod loss; only ___% (2.4 million) use hearing aids; ___% do NOT use hearing aids |
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Definition
1.6; 70; 30; 6.4; 50; 50; 24; 10; 90 |
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Term
What hearing aid style is the most popular? |
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Definition
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Term
Groups that demand discounts from manufacturers due to increased volume; groups then pass savings on the group members |
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Definition
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Term
What are a few examples of a few buying groups? |
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Definition
American Hearing Aid Associates (AHAA), Audigy Group, and EarQ |
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Term
What are the 3 largest buying groups? |
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Definition
AHAA, Elite Hearing Network (owned by Amplifon), and Audigy Group (owned by GN Store Nored A/S) |
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Term
Most manufacturers will not sell instruments to retailers who do not ____________ |
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Definition
conduct an in-person fitting |
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Term
What are some online retailers? |
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Definition
Hearing planet, Hear.com, Lloyds. |
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Term
Not intended to make up for impaired hearing; intended for use by individuals WITHOUT hearing impairment to amplify environmental sounds e.g. “Hunter’s Ear” |
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Definition
Personal Sound Amplifier Product (PSAP) |
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Term
Sound-amplifying device intended to compensate for impaired hearing |
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Definition
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Term
What are some PSAPS on the market? |
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Definition
Eargo, iHear, and Ear Technology |
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Term
The activity or fact of increasing the market share of an existing product, or promoting a new product, through strategies such as bundling, advertising, lower prices, or volume discounts. |
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Definition
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Term
Identify six hearing instrument companies |
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Definition
o GN Store Nord A/S o Amplifon o Sivantos o Sonova o Starkey o Widex |
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Term
Groups that demand discounts from manufacturers due to increased volume; groups then pass savings on the group members |
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Definition
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Term
what is an example of a buying group? |
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Definition
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Term
List two online hearing aid retailers |
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Definition
Hearing planet and hearing.com |
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Term
Buying Groups: -This buying group is for hospitals, clinics, universities, can buy hearing aids from Phonak, Rexton, Sonic, Unitron, & Widex (plus Oticon) -This buying group supplies hearing aids from “big six” companies plus management services. Formerly known as “Sonus” network -This buying group provides financial services, marketing, HR support |
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Definition
-AHAA -Elite Hearing Network -Audigy Group |
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Term
What does SWOT stand for? |
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Definition
Strengths, weaknesses, opportunities, and threats |
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Term
is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executives and managers in strategic decision making for an organization. |
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Definition
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Term
Summarize practice resources necessary to build a competitive advantage |
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Definition
Financial, physical, human, and organizational resources |
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Term
This cost strategy depends on company’s ability to make & deliver products at less cost (but equal quality); People are price-sensitive; so lower cost means more volume; in hearing aids – products through outlets are often about 1/3 less in cost than a typical clinic |
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Definition
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Term
This cost strategy differentiates the product or service so customers perceive it as unique; still try to control product cost (but this is not the focus); generates brand loyalty, associated with perception of “exclusivity”; lower volume market share; higher margins |
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Definition
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Term
This cost strategy focuses on specific segment of product line; policies tuned for specific target customers: example: Bernafon’s focus is on VA & Costco (while not turning away private clinic business) |
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Definition
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Term
What are the 3 generic cost strategies? |
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Definition
Low cost, differentiation, and focus strategy |
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