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Marketing research

Marketing research.

eavan
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Marketing research

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  1. Marketing research

  2. The process or set of processes that links the consumers, customers, and end users to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process

  3. Marketing research is often partitioned into two sets of categorical pairs, either by • target market: • Consumer marketing research, and • Business-to-business (B2B) marketing research • methodological approach: • Qualitative marketing research, and • Quantitative marketing research

  4. Why market research is done? • To identify unmet therapeutic needs • To predict customer demands for a new medication • To identify why the competition is successful • To find out the market size and growth • To know all category product sales and market shares • To assess proper pricing • To identify demand seasonality's or trends • To prevent crises • To identify key targets • To evaluate the company’s public image • To measure prior successful new product launches • Suggest potentially successful advertising &promotion programs

  5. Risk of research • The risk lies in pharmaceuticals are intended for humans. • Such risks includes • Bias • Confusing managerial beliefs with statistical significance, • Confusing relationship with causality • Expenses • Lack of confidentiality • Over relying on quantitative data • Poor design • Time delay • Wrong assumptions • Wrong data • Wrong interpretations • Wrong type of research

  6. Research excellence • It is described as research reliability and research validity • Research reliability refers whether the marketing research yields the same results in repetitive measurements • Research validity refers to whether marketing research yields the result it is supposed to give.

  7. Information needs • Pharmaceutical marketers need information about: • Prescribers • Patients • retail pharmacies • hospital pharmacies • Wholesalers • Academics • Competition • the market

  8. Marketing information system (MIS) • After gathering the data needed marketers face enormous amount of info which needs to be stored ,retrieved ,analyzed, and distributed to all personnel in the organization and this is done using MIS

  9. Pharmaceutical marketing research subjects

  10. Process & methodology • The process goes in distinct steps • Defining the problem • Setting research objectives • Designing research plan • Selecting the optimal sample & it’s size • Collecting data • Analyzing data • Creating a model based on data • Evaluating model and deciding optimal marketing strategy

  11. Defining problem

  12. Setting research objectives

  13. Designing research plan

  14. Collecting data

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