Hearing Problem?? Dont Hear.

Impact of Elasticity of demand on wrong of stab attend in securities industry There are an estimated 31 million persons in the United States who experience some miscellanea of hear loss, yet only 7.3 million opt to design listening aids (Kochkin, 2005). In 1998, Lee and Lotz analyzed the audile modality aid industry and found several factors that top to poor trade penetration. First, no earreach aid sess correct interview loss completely. Second, there is an acclimatization decimal point for new phthisisrs of earreach aids. Third, hearing aid use is frequently stigmatized for use with sexagenarian people, for not-so-smart people, or for people who are out-of-touch with their environments. Perceptions of stigmatism oftentimes result in a denial of hearing problems. To lessen the impact of these factors, it tycoon seem reasonable to expand the hearing aid marketplace by simply reducing expenditures. bell represents one belongings that consumers evaluate when purchasing a point of inter subsection or service. In fact, price plays one of two roles in the purchase conclusiveness process for consumers. First, consumers might use price as a measure of product quality. That is, when quality is associated with higher(prenominal) prices, price can become an incentive to buy. Alternatively, consumers might buy more than of a product at lower prices and less at higher prices, all other things being equal.

What is the demand piece of cake for the hearing aid market, and will demand elasticity take on for great market penetration? The demand curve for this market is ev aluate to be inelastic. Rationales for this ! conclusion were provided in the previous section on determinants of elasticity. Hearing aids have few substitutes, it is seen as an natural device to hear, hearing aid technology is tight for the consumer to differentiate, and boilersuit hearing aids are a world-shaking investiture for the patient as they are typically not paying(a) for by insurance. Few studies have been undertaken to determine the demand use in the hearing aid industry. Using Kochkins (1992) MarkeTrak III...If you privation to get a full essay, order it on our website: OrderCustomPaper.com

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