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As the internet was getting ready to explode, I was fortunate to be with a company that realized the importance of having a web presence and also had the funding to make it happen.
Initially, Siemens launched a basic website, which later included e-commerce and web hosting as a marketing service for its customers. It's truly an amazing experience to witness sudden changes in technology which impact the very way an industry (and the world) does business.
The internet's monumental appearance caused shifts in the hearing health care industry that resulted in tons of additional work for the marketing department; Work that was suddenly and absolutely necessary if you were to remain competitive and profitable; Work that didn't even exist a short time earlier. This meant additional resources, new skills, and new expenditures.
As the internet continued to develop over the next few years, manufacturers like Siemens gained new and powerful tools to communicate with dispensers. Additionally, the internet opened up the possibility for communications directly with consumers, something that was previously very cost prohibitive.
These changes greatly enhanced communications but also made them incredibly more complicated to implement. For one thing, corporate consistency became much more of an issue than ever before.
Concurrent with the internet boom, the hearing health care industry was also being drastically changed by the introduction of digital technology into it's products. This meant that the devices now being manufactured were dramatically better than what was previously produced.
Initially, large companies like Siemens led the way with digital products. However, it wasn't long before everyone had digital technology and the market structure was greatly altered. Pricing became confusing as product lines were more difficult to differentiate. Low cost off-the-shelf models began to erode more lucrative custom profits.
To this day, these sort of changes have forced companies to seriously reconsider their business model. And while many larger companies scramble to realign their resources and business plans, others have been able to capitalize on the changes and become significant players.
Clearly, the internet and technology had similar affects on just about every other industry. It's both exciting and challenging to keep up with all of the changes that occur seemingly every day. I'm sure that someone studying the business world of today from a 1990 or 1995 perspective would be truly amazed. It should be just as interesting, if not more so, for someone today to see how things will have changed 10-15 years from now.