Marketing research

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

Marketing research is often partitioned into two sets of categorical pairs, either by

target market:1. Consumer marketing research, and2. Business-to-business (B2B) marketing

research methodological approach:1. Qualitative marketing research, and2. Quantitative marketing research

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

Why market research is done?

The risk lies in pharmaceuticals are intended for humans. Such risks includes

1. Bias2. Confusing managerial beliefs with statistical significance,3. Confusing relationship with causality4. Expenses5. Lack of confidentiality6. Over relying on quantitative data7. Poor design8. Time delay9. Wrong assumptions10. Wrong data11. Wrong interpretations12. Wrong type of research

Risk of research

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.

Research excellence

Pharmaceutical marketers need information about:

1. Prescribers 2. Patients 3. retail pharmacies4. hospital pharmacies5. Wholesalers6. Academics7. Competition8. the market

Information needs

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

Marketing information system (MIS)

Pharmaceutical marketing research subjects

The process goes in distinct steps1. Defining the problem2. Setting research objectives3. Designing research plan4. Selecting the optimal sample & it’s size5. Collecting data6. Analyzing data7. Creating a model based on data8. Evaluating model and deciding optimal

marketing strategy

Process & methodology

Defining problem

Setting research objectives

Designing research plan

Collecting data