Today I want to discuss my concerns regarding market research in the pharmaceutical Industry.
I was involved lately with several suppliers and clients in conducting market research . They all phased the same issue. Physicians are so busy that they do not cooperate.
Needless to mention how important market research in the pharmaceutical industry is. A bad market research can mislead a company in the strategy and decisions from the very early phases the company phases. A bad market research can lead to disaster in terms of positioning, segmentation, and lead to a whole catastrophe in the future of a product and even the whole company.
So, what can be done in order to improve the cooperation of the physicians in conducting market research?
One answer is paying a reasonable honorarium. In addition, a market research company should develop a good panel, which cooperates with the market research company on a constant basis.
As for the client, the market research should be validated and results taken in consideration only if it totally is in line with the assumptions the company had before conducting the survey. Otherwise, several parameters should be validated and checked.
