Different Strategies to Gain a Sound Position Among Competitors

Subject: Strategy
Pages: 2
Words: 294
Reading time:
< 1 min

Since the hearing aid price emerges as the most important challenge to potential buyers, companies can partner with the firms of affected people and help them secure credit payments for the gadget. In this case, they help individuals who would find it extremely difficult to purchase hearing aid all at once. As companies may find it challenging to cope with considerably cheaper products from other companies, the strategic plan of companies may liaise with producers of complementary goods to remain competitive in their market. Essentially, the complementary products would form the unique edge of the firm’s hearing aids ahead of its competitors, hiding the cost of the items as the complementary may appear for the cost of the product, sometimes appearing as more in value than it was initially.

Companies may continue to offer after-sale services to their customers and highly popularize their outlets as the ideal location for hearing aid gadgets. Similarly, the firm may choose to sell to a segmented market of customers whose case and condition are described as urgent, thus necessitating urgent attention. Again the managers need to consider the amount of spending on the hearing gadget represented by those families that have had cases of hearing impairment and are now managed by hearing aids. Thus if it emerges that those families are spending an excess of $2000 on hearing aid use a significant amount of their annual disposable income, then it would force the company to form a partnership with medical practitioners and doctors who would treat the patient who almost goes deaf. The managers must also recognize the importance e of tax amid taxes and costs that continue to impact the market.