Market Research Tools and Techniques to Improve Consumer Interactions in Pharma Industry

STUDY OVERVIEW
BENCHMARK CLASS
STUDY SNAPSHOT
KEY FINDINGS
VIEW TOC AND LIST OF EXHIBITS

With the advent of new technologies, there has been a revolutionary change in the way consumers educate themselves and make critical purchasing decisions. These changes are also affecting highly regulated industries such as bio-pharma, where companies are rapidly adopting latest technologies to enhance their Consumer Marketing Research capabilities in Market Research field. Consequently, they are using novel tools and techniques to better understand consumer behavior.

In fact, industry experts believe that this trend will not only help bio-pharma organizations in conducting deeper & faster research but, will also help them in increasing their efficiencies.

Best Practices, LLC conducted this benchmarking study to identify current and evolving approaches for qualitative and quantitative consumer marketing research techniques and tools in pharmaceutical and medical device companies. This research examines the changing landscape for qualitative and quantitative research. It also reviews which quantitative research approaches market research leaders are currently utilizing most and why.

This study includes data on two segments: pharmaceutical companies and the Total Benchmark Class.

Industries Profiled:
Pharmaceutical; Health Care; Biotech; Biopharmaceutical; Clinical Research; Laboratories; Medical Device

Companies Profiled:
Grifols; Sanofi; Salix Pharmaceutical; Merck Serono; Daiichi Sankyo; Ferring Pharmaceuticals; GE Healthcare; ARIAD; Teva Pharmaceutical Industries Ltd; Teva Neuroscience; EMD Serono; Merck; Janssen; Novo Nordisk; Johnson & Johnson; Biogen Idec; Medtronic; UCB Pharma

Study Snapshot

Fifty-nine benchmark survey respondents from 58 companies participated in this study. In addition, research analysts conducted executive interviews with eight selected respondents to collect qualitative data and insights.

Key topics include:

Innovativeness of MR Tools for:
- Forecasting
- Patient Flow Mapping
- Positioning
- Segmentation
- Brand Research
- Concept Testing
- Brand Awareness
- Customer Insights
- Direct-to-Consumer
- Tactic Testing
- Target Product Profile Testing
Utilization of Emerging MR Tools
Effectiveness of Consumer Marketing Tools
Best Practices, Pitfalls & Lessons Learned

Key Findings

Online Communities Offer Bottomless Pool of Consumer Insights: Online communities are a valuable qualitative source of consumer insights and yet the tool appears to be underutilized. In the Pharma Segment, 50% said they were using online communities sometimes while the other half said they don’t use them at all.

Combining Marketing Research Techniques or Hybridization Occurs in Both Segments: About 20% of all respondents said they are combining Market Research tools or technologies in their consumer research efforts. The practice of combining tools (such as merging survey research with online behavioral tracking) was even less prevalent in the Pharma Segment where only 11% said they combined Market Research tools or techniques

Table of Contents

I.Executive Summary� pp. 4-21

Research Overview� pp. 4
Universe of Learning� pp. 5
Innovation Widely Dispersed but Thinly Seeded� � pp. 6�
Key Findings� pp. 7-20

II.Universe of Learning: Key Demographics of Participating Companies � pp. 21-23
III.Innovation in Marketing Research Approaches� pp. 24-26
IV.Innovation in Marketing Research Tools� pp. 27-72

Using Innovation to Update the Use of Analysis Tools for Key Market Research Activities �

V.Marketing Research Trend Changes – Qualitative Trends� pp. 71-76
VI.Marketing Research Trend Changes – Quantitative Trends� pp. 77-82
VII. Emerging Market Research Tools in Pharma Sector� pp. 83-94
VIII. Communicating with Consumers� pp. 95-99
IX.Trends in Consumer Communication� pp. 100-105
X.Evaluating Direct-to-Consumer Marketing� pp. 106-108
XI. Lessons Learned and Pitfalls to Avoid � pp. 109-113
XII. Appendix � pp. 114-125
XIII. About Best Practices, LLC� pp. 126�

Innovation in the Pharma Industry: Market Research Tools, Technologies and Approaches to Improve Consumer Interactions

ID: PSM-300

Features:

Pages: 126

Published: Pre-2019

Delivery Format: Shipped

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