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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