Shared Flashcard Set

Details

Competition
Professional Practices
24
Audiology
Graduate
09/05/2018

Additional Audiology Flashcards

 


 

Cards

Term
___% OF OVERALL ADULT POPULATION HAS HL TOTAL: ___ MILLION INDIVIDUALS
Definition
10; 32
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
Definition
1.6; 70; 30; 6.4; 50; 50; 24; 10; 90
Term
What hearing aid style is the most popular?
Definition
RIC
Term
Groups that demand discounts from manufacturers due to increased volume; groups then pass savings on the group members
Definition
Buying groups
Term
What are a few examples of a few buying groups?
Definition
American Hearing Aid Associates (AHAA), Audigy Group, and EarQ
Term
What are the 3 largest buying groups?
Definition
AHAA, Elite Hearing Network (owned by Amplifon), and Audigy Group (owned by GN Store Nored A/S)
Term
Most manufacturers will not sell instruments to retailers who do not ____________
Definition
conduct an in-person fitting
Term
What are some online retailers?
Definition
Hearing planet, Hear.com, Lloyds.
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”
Definition
Personal Sound Amplifier Product (PSAP)
Term
Sound-amplifying device intended to compensate for impaired hearing
Definition
Hearing Aid
Term
What are some PSAPS on the market?
Definition
Eargo, iHear, and Ear Technology
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.
Definition
Market penetration
Term
Identify six hearing instrument companies
Definition
o GN Store Nord A/S
o Amplifon
o Sivantos
o Sonova
o Starkey
o Widex
Term
Groups that demand discounts from manufacturers due to increased volume; groups then pass savings on the group members
Definition
Buying group
Term
what is an example of a buying group?
Definition
Audigy group
Term
List two online hearing aid retailers
Definition
Hearing planet and hearing.com
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
Definition
-AHAA
-Elite Hearing Network
-Audigy Group
Term
What does SWOT stand for?
Definition
Strengths, weaknesses, opportunities, and threats
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.
Definition
Competitive intelligence
Term
Summarize practice resources necessary to build a competitive advantage
Definition
Financial, physical, human, and organizational resources
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
Definition
Low cost strategy
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
Definition
Differentiation strategy
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)
Definition
Focus strategy
Term
What are the 3 generic cost strategies?
Definition
Low cost, differentiation, and focus strategy
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