Pharmaceutical market research
Every pharmaceutical company that wants to maintain its competitive place in the market has to constantly keep positioning its products within the specific target groups of clients. This is due to the fact, that the OTC and Rx drugs that are currently available in the market do not really differ from each other, when considering the content of active substances. That is why it is worthwhile to opt for a market study that helps to strengthen awareness and brand image and to plan an effective communication strategy.
What may be researched?
- Over the counter medicine (OTC);
- Prescription drugs (RX);
- Ways that consumers react to ailments;
- Habits and consumer preferences;
- Dietary supplements and probiotics;
- Potential nuisance in the use of medical products;
- Packages and their conceptual versions;
- Drug and supplement advertising – including reactions to campaigns;
- Verification of the quality of work of medical representatives;
- Distribution channels and promotions;
- Tendencies to recommend products;
- Price elasticity;
- Customer service quality within pharmacies;
- Brand knowledge and perception;
- Brand associations;
- Optimal channels for promotion and distribution;
- Competitive environment – including your position on the market.
What are the main groups of market participants that we study?
All of the pharmaceutical market participants – consumers, decision makers (doctors and pharmacists), medical representatives and consultants, opinion leaders and Healthcare industry managers are all involved in our research.
Our dedicated pharmacy marketing research projects allow us to uncover individual consumer insights, covering the unmet needs and expectations of consumers in the acquisition of medical products. Detailed analysis of acquired data allows us to distinguish segments (target groups) of customers due to their socio-demographic and psychographic profile. Targeting marketing messages to these groups creates the opportunity to optimize your advertising budget and increase sales.
When should you make use of pharmaceutical market research?
The implementation of a pharmaceutical market research project is justified in principle at every stage of a product’s life cycle, both before and during its distribution. The conclusions of the study allow you to answer, inter alia, the following questions:
How to plan a vision for a new medical product and its packaging?
What is the demand for medicine or other products provided by a pharmaceutical company?
How will patients respond to changes in drug prices?
How to design effective advertising material? Which of the preliminary advertising concepts to choose?
How to design packaging to create a positive brand image and increase sales results?
How to choose effective channels for promotion and distribution?
How to correctly identify target customers?
How to react if you notice a decline in sales results?
How to verify the competence of medical representatives?
How to adapt the drugs’ form to the needs of patients?
How to distinguish the brand against its competition?
What changes will take place in the pharmaceutical market next year?