Business Plan for Battery-Less-Hearing Aid

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Business Plan for Battery-Less-Hearing Aid

Hard of Hearing patients need something that will suit there financial goals in the long run, be less of a hassle to worry about and enhance their hearing all at the same time. We propose in creating a Battery-Less-Hearing Aid and believe that it is the best option to go because Hard of Hearing patients will never have to worry about recharging batteries or buying new ones all the time like you do with our current hearing aids that are available in today’s society. On top of that our patients would save money at the same time by never having to buy batteries and will still able to hear just like they would with a hearing aid that is battery operated.

Through numerous analysis and meeting with prospective customers we have concluded that having a Battery-Less-Hearing Aid is correct direction to head. We have developed these hearing aids to work by means of a heat sensor. When the aid touches your skin behind your ear the sensor in the hearing aid detects the heat and automatically turns on allowing you to hear. We have continued to run tests and do analysis to further optimize the components of our Battery-Less-Hearing Aid. Once we had a prototyped device, we tested its performance in terms of our general and implementation specifications and compared the results to the existing battery powered hearing aids and found and concluded that they both allow you to hear at the same level, only the Battery-Less-Hearing Aid never quits on you unless you take it off, unlike the battery powered hearing aids that die on you after continuous use. We also ran a study of 100 Hard of Hearing patients that wore the battery operated hearing aid and had them try our Battery-Less-Hearing Aid and found out that 98 of the 100 patients said that they would prefer the Battery-Less-Hearing Aid over the battery operated hearing aid. The two that stated that they would stick with the battery operated hearing aid said the only reason is that they did not like change and already trusted what they were using.

Our Company will be extremely successful due to the fact that we are concentrated on creating a product that will met our customers needs, wants, and demands. The fact that our prospective consumers do not have to continuously buy new batteries or recharge them is very appealing, not to mention that they will save tho...

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... 10 years from now. In the chart below you can see that we believe that our sales will double each year.

Five-Year Projections

Five-year financial projections for Battery-Less-Hearing Aid appear below:

These projections reflect the continuing growth in the number of aids sold and increasing production and distribution of economies of scale as sales volume increases.

Organization

Battery-Less-Hearing Aid presents its organizational chart on the next page. It shows that we are always thinking of new ways to improve our business for us and our consumers.

Implementation Plan

Introducing Battery-Less-Hearing Aid to new cities in new states is going to be a very complex task and requires use to gain consumer awareness among our target market that was mentioned earlier. The anticipated outcome to enter these cities in new states appears below:

Evaluation and Control

The monthly sales targets in cases have been set for Battery-Less-Hearing Aid for each city in each state. Actual case sales will be compared with these targets and tactical marketing programs modified to reflect the unique set of factors that are in each city.

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