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When conducting segmentation market research, we tend to generalize the experience to one with a focus on understanding prototypes of individuals within the marketplace. This generalization is useful because companies are often concerned with developing a marketing mix that can apply to groups of individuals to encourage sales-force optimization. However, depending on the strategic applications of the research, this kind of approach may not always be appropriate. For instance, when thinking about multi-faceted purchasing chains, a segmentation model centered on individuals is decidedly less useful. One alternative to the standard individual-based approach is an account-based segmentation model where the objective focus is to discover heterogeneous groups of accounts in the market.
Market research is a valuable tool to guide the strategic planning of a new product launch, supporting marketing, sales, and leadership efforts at your organization. Although market research activities are typically for internal use only, conducting studies for public release can help prime the market for your new product. Here's what you should consider when designing a study for public release!
Published by Quirk's Media on August 8th, 2018
Long gone are the days when intelligent, artful marketing messages delivered to targeted healthcare providers by a sales representative lead to the highly coveted, quickly rising uptake curve. As drug costs continue to rise, Payers in the U.S. healthcare system are doing everything in their power to control plan costs through prior authorization and step edits, and restrict access to perceived “me too” products and line extensions. Here's what you need to keep in mind when conducting research with Payers ahead of your product launch.