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One of our longtime clients recently engaged with us to collect physician feedback on two diabetes-related diagnostic testing panels. Because rollout was impending, rapid insights were needed to inform their decision. To obtain nuanced information quickly, we employed a new methodology called Virtual Voice-response Interviews (VVIs). Read the full post to learn more!
Clinical trials are a significant portion of the cost to bring a new drug to market. Recent research published in Clinical Trials estimated the combined average total cost of conducting a single endocrinology clinical trial in each of Phases I, II, and III was US $30.5 million. With costs this high (and likely higher as time goes on), it’s natural to wonder if there are ways to optimize a clinical trial’s impact before committing to the substantial investment required. Fortunately, market research provides two opportunities to gauge the impact of a clinical trial through use of two designed experiment methodologies.
An estimated 12 million Americans need some form of formal, long-term care (LTC). Commonly, when our clients think about the LTC market, they focus on skilled nursing facilities (SNFs), but assisted living facilities (ALFs) and home care are equally important for many products and services.
In an ever-evolving landscape, manufacturers are developing “new” products and solutions across many therapeutic areas. The key to market acceptance is differentiation, and as cost pressures increase, the receptivity towards new formulations or other line extensions with limited clinical and economic benefit is waning. To ensure your product hits home with your customers, consider understanding their needs and how your product may fill that gap.
Published by Quirk's Media on October 10th, 2018
Understanding the competitive dynamics of your market, as well as your customers’ satisfaction and loyalty, are critically important - not just for gauging your current performance, but also for understanding how to improve your performance and identify early warning signs of an issue. A measurement and tracking system must be put in place to do this effectively. Once you’ve figured out what to ask, who to sample, and how to sample them, there is one more question to answer: when (and how often) should you utilize your measurement and tracking system?
Published in Quirk's Marketing Research Review October 2018 (pages 50-53)
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.