marketing lecture 3 updated pharmaceutical market research
TRANSCRIPT
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Pharmaceutical Marketing ResearchDr. Taher Hamed
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(1) An Introduction to Market Research
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Market Research
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Secondary Research
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Internal Sources
• Company Accounts
• Internal Reports and Analysis
• Stock Analysis
• Retail data – Customer loyalty cards, etc.
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External Sources
• Government Statistics
• Trade publications
• Commercial Data ( Commercial Chambers)
• Household Expenditure Survey
• Magazine surveys
• Other firms’ research
• Research documents – publications, journals, etc.
• Professional Market Research Agencies (IMS)
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Primary Research
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Market Research
• Primary Research– First hand information
– Expensive to collect, analyse and evaluate
– Can be highly focussed and relevant
– Care needs to be taken with the approach and methodology to ensure accuracy
– Types of question – closed – limited information gained; open – useful information but difficult to analyse
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Market Research
• Quantitative and Qualitative Information:
• Quantitative – based on numbers – 26% of Egyptians over 60 year olds have hypertension - doesn’t tell you why, when, how
• Qualitative – more detail – tells you why, when and how!
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Purpose
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Market Research
• Advantages of Market Research– Helps focus attention on objectives
– Aids forecasting, planning and strategic development
– May help to reduce risk of new product development
– Communicates image, vision, etc.
– Globalisation makes market information valuable
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Market Research
• Disadvantages of Market Research– Information only as good
as the methodology used
– Can be inaccurate or unreliable
– Results may not be what the business wants to hear!
– May stifle تخمدinitiative and ‘gut feeling’
– Always a problem that we may never know enough to be sure!
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Pharmaceutical Marketing Research
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Unique Aspects of Pharmaceutical Marketing and Sales • Influence of non-purchasers (Physicians-Pharmacists) on the purchasing
habits of the consumer.
• Authorization power of physicians – consumers need an authorized document to purchase a prescription drug
• Importance of the diagnosis and knowledge of diseases to identifying and classifying markets
• Professional licensing required to stock and sell pharmaceutical products
• Records of every transaction are kept that are specific to:– Patient– Physician– Product
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Definitions
• Market Research: – Determination and assessment of qualitative and quantitative
dimensions of a market
• Marketing Research: – Analysis of the effects of various marketing activities of a
company or its competitors
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Market Research
• Environmental scanning:– Physicians– Pharmacists– Pharmacies– Hospitals
• Data gathering and analysis• Influence of unique aspects of the pharmaceutical market on market
research:– Known list of entities– Knowledge-based decisions– Similarities in education and thinking (professionalization)– Availability of records for transactional activity
• Significant use of outside vendors for market research– Syndicated services– Custom services
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Questions Answered by Market Research
• Strategic Level:– What diseases or product areas should be considered for long-term
investment or Short-term investment?– Market size or potential?– Availability and utilization of therapies?– Next logical steps in therapy?– Potential market segments to be exploited:
• Disease conditions (e.g., migraine sufferers)• Dosing preferences (inhalants vs. injections vs. patches)
– Prevalence of disorder?– Shared conditions?– Potential development partners?– Potential acquisitions?
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Questions Answered by Market Research
• Clinical trial Planning:– Seasonality
– Regionality
– Specialty
• Pre-marketing Planning:– What physician specialties are important in a given therapy or
diagnosis?
– What patient characteristics are important?
– Who are our competitors in this market?
– How do our competitors promote their product?
– Are there unsatisfied portions of the market?
– How do physicians perceive a proposed product?
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Questions Answered by Market Research
• Post-marketing Monitoring:– Adverse events
– Product sales
– Patient information (medical history)
This can be critical in product defense situations! Example: Pfizer’s defense of Viagra when suits were filed alleging an increased risk of stroke.
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Types of Market Research
PeriodicSurveys
Retail Pharmacy Purchases
Retail Pharmacy Purchases
Hospital Purchases
Hospital Purchases
WarehouseWithdrawals
WarehouseWithdrawals
PromotionalMedia
PromotionalMedia
PhysicianPanels
PhysicianPanels
Retail PharmacyPrescriptions
Retail PharmacyPrescriptions
Retail Pharmacy Sales
Retail Pharmacy Sales
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Types of Market Research
PeriodicSurveys
Retail Pharmacy Purchases
Retail Pharmacy Purchases
• Measures the “inflow” of products from the manufacturer to the pharmacy
• OTC
• Prescription drugs
• Indirect (through wholesalers)
• Direct purchases from manufacturers
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Types of Market Research
PeriodicSurveys
Hospital Purchases
Hospital Purchases • Measures the
“inflow” of products from the manufacturer to the hospital
• OTC
• Prescription drugs
• Indirect (through wholesalers)
• Direct purchases from manufacturers
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Types of Market Research
PeriodicSurveys
WarehouseWithdrawals
WarehouseWithdrawals
• Measures the “outflow” of products from the warehouse to all purchasers
– OTC
– Prescription drugs)
• Does not reflect direct purchases from manufacturers
• Provides ability to analyze small segments of the marketplace such as zip code or territories
Can be valuable in dealing with questions of individual territory performance and potential or different selling techniques
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Types of Market Research
PeriodicSurveys Retail Pharmacy
Prescriptions
Retail PharmacyPrescriptions
• Measures the “outflow” of prescription drugs from the pharmacy to consumers
• Most sensitive indicator of prescription product performance (factual)
• Reflects mindset of prescribers and consumer demand
• Best indicator of marketing or promotional effort effectiveness
• Data available at national and sub-national levels
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Types of Market Research
PeriodicSurveys
PhysicianPanels
PhysicianPanels
• Specialized research services to identify patient product usage along specific variables:
– Diagnosis
– Patient characteristics
– Location of visit
– Drugs used
– Action desired from drugs used
• Tracking of new prescriptions over time and monitors changes in doctor prescribing habits
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Types of Market Research
PeriodicSurveys
Retail Pharmacy Sales
Retail Pharmacy Sales
• Historically used for non-prescription pharmaceuticals
• Data typically collected for products of interest
• Collect unit and L.E information at the package size level
• Main use is to obtain prescription counts by product
• Used for pricing analysis and cross-tabulation analysis using data warehouses
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Types of Market Research
PeriodicSurveysPromotional
Media
PromotionalMedia
• Monitoring of detailing visits to physicians by sales representatives
• Monitoring of journal advertising
• Monitoring of direct mail advertising
• Physician sampling
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Market Research Organizations
• IMS Health
• Data-monitor Healthcare Consulting
• Frost. COM
• Reuters
• Also check out:– eyeforpharma.com
– FDA.gov
– Journal of the American Hospital Association
– AMA Drug Evaluations
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