Feasibility of an online business in a chaning enviornment on the audilogy field
As a crucial sense organ, hearing plays a central part in daily life. When damaged, hearing can be improved thanks to technologies such as hearing aids. The audiology sector has experienced major technological advancements in the past years, combined with overall developments in the retail sector. This leads many audiologists to question how to ideally position their business for future years.
Carla Gonzaga-Hänny & Laura Maria Berchtold, 2019
Bachelor Thesis, Dr. B. Schwaller GmbH
Keywords: Audiology, online presence, online business, chaning environment, processes, marketing
Historically dominated by small local businesses, the audiology sector is experiencing increased competition from new online retailers and large physical retail store chains. In addition, technological advancements have introduced a number of alternatives to traditional hearing aids that require less consultations of an audiology specialist. Considering these developments, the goal of this thesis is to explore possible online business models and ideally develop a feasible medium-term strategy for audiology businesses to reposition themselves for the future.
To have a realistic scenario, the thesis was conducted together with an industry partner – an audiologist from Berne. Apart from in-depth analysis of the partner company, qualitative research was conducted on products, competitors, the online sector in general and industry trends both in Switzerland and in the US. To challenge the research results and establish if the suggested solutions would be in line with the customers and their needs and behaviour, a survey was conducted with over 200 potential and existing customers.
The research and its analysis showed that there is definitely potential for audiologists to utilize online business models to position themselves for success in the future. In addition to an increase in geographical reach and therefore target group, digital and online approaches offer major improvements for process efficiency, sales pipelines, customer relationship management and much more. While it may currently still be possible to conduct business without considering the online market, the future trend is obvious and companies must eventually react accordingly.
Since a successful online-strategy is dependent on the combination of many factors including marketing, IT skills, the correct interpretation of customer needs and behaviours, it was not possible to provide a single fool-proof strategy for future success as an audiologist in the online realm. Instead, 3 strategies were suggested that each cover a different area of online business and digitalization. With the help of these strategies and included step-by-step manuals, audiologists should have the necessary know-how and action plan on how to start the repositioning of their business for future success.
Studiengang: Business Administration International Management (Bachelor)
Fachbereich der Arbeit: Andere