Audiology Business Plan

Gleitman: My job is to help independent practitioners compete in their market place.Of course there are many ways to do that, and Phonak supports and helps the practices in their growth and expansion plans. For example, what are the most important things you try to communicate to every practice?For example, in Skokie Illinois, the largest population segment is older adults at about 26 percent.

Audiology Business Plan-19Audiology Business Plan-2

You need to identify the targets, and then assemble a business plan that allows you to achieve the goals.Gleitman: Well, each market is different, and I can really only address the market here in Chicago.The costs of advertising and marketing varies, and it really need to be addressed for each targeted demographic area.On a slightly different issue, suppose that I have a practice that is an Audiology based practice in a medical/professional building,a nd supposing that I have revenues of about 300 thousand dollars annually.What percentage of my revenues should I be spending on marketing and advertising? AO/Beck: That seems low to me, typically I hear about 15 percent?I took a little time off and started with Phonak as of January 2002.AO/Beck: Ron, what does your job at Phonak involve?AO/Beck: In the business plan, do you cover marketing and advertising?Gleitman: Yes, but in the business plan, we address three types of practices.For example, we have the medical model, the retail model and the mixed model.Each model has a different approach to marketing, based on the practice needs.

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