1. Please explain the consumer buying behaviour in connection with buying of hearing aids. William Demant (earlier Oticon) is a leading worldwide manufacturer of hearing aids. The company operates in a global market with subsidiaries in more than 30 countries, has a staff exceeding 12,000 and generates annual revenues of DKK 13 billion (2017). Their products and services are sold in 130 countries.

Background A hearing loss rarely happens overnight. Most often, it happens over time and gradually worsens with age.

Thus, realising a hearing loss also takes time, and once realised, the process of doing something about it begins. Several reasons make this a lengthy period as well. The hearing impaired may not be fully aware of the severity of the problem and what a hearing aid could do for them. Also, the process of getting a hearing aid and learning to live with it is believed to be troublesome. In turn, this puts a constraint on innovative product launches×

effectiveness in attracting new customers as this is to a large degree an unawareness problem.