Managerial Economics

The number of Americans who have hearing difficulties is too many and is still expected to rise as time goes on. This is a challenge that most people undergoing the same ordeal are expected to face under all the circumstances that aid may be available if not totally to cure hearing loss. Hearing aid is a device that can lessen the burden of auditory impairment but it can only do so much. There are still implications that the use of such can be rather viewed as a supplement only and not a corrective tool. This view alone stands actually as a deficient selling point, as people who already have the difficulty will not always depend on these aids and most probably diverge themselves from buying the product. Hence, this situation definitely hurts the sale capacity of the hearing aid industry.

Lowering the Price

Naturally, as the demand may not be as considerably successful, the prices of hearing aids remain static as against its normally opined high pricing. The idea of lowering the price is a positive idea but not totally a remarkable one. To take for consideration, marketing plays a pivotal role. Product innovation is still under watch as the product continues to address misconceptions about its use and its price. It can be assumed that people who need such may have to be considered based on their actual individual needs. Lowering the price is not only and always the best solution at whatever product is being marketed. Apart from the actual study conducted, it must be analyzed there upon that actual users must be first educated of the many facets of its use and the impact that it may have if chosen as a summative solution to their auditory problems. It has already been mentioned that the implication of social stigma is above the issue of purchase and poor market reception. In as much as going through the usual and most careful market analysis, the firms should maintain a higher standard of psycho-social research to come up with a market campaign that is devoted to curing the disease of social stigma for those who use the product if not to give false hopes of entirely curing the malady of their situation.

There are market theories available to stand up as resolution before th