Medical Quantitative Market Research Segmentation and Positioning Studies

September 11, 2007 (PRLEAP.COM) Health News



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Maywood, NJ September 11, 2007

Jack M. Shapiro, Principal Consultant for J.M. Shapiro Healthcare Marketing Research and Consulting, has provided a succinct description of quantitative market segmentation and positioning studies which companies such as his provide clients in the fields of prescription and non-prescription pharmaceuticals, medical equipment, supplies and devices, hospitals, managed care, homecare, diagnostics, clinical research organizations, advertising agencies, branding specialists, and venture capitalists.

Two key questions need to be asked: 1) How large is my market and how should I position my product, service or company vis-à-vis the competitors? 2) How large are the segments in which I will compete and what will be my comparative strengths and weaknesses? Sometimes market size and trend can be determined by published, secondary data from market audits or government or industry sources. But on many occasions, a market must be built “from scratch” for which no published data are available or properly detailed. When that occurs, companies need to survey a market in order to quantify, measure their competitors’ strengths and weaknesses as well as their own.

Quantitative studies can be conducted with samples as low as 50 respondents and as high as many thousands. Such research can be conducted in face-to-face interviews in physician or administrator offices, homes, or interviewing facilities, over the internet, via telephone, through the mails or in shopping centers with consumers (also called “mall intercepts”). These studies are considered “quantitative” (as compared to “qualitative” studies such as focus groups or in-depth interviews which may proceed the quantitative phase) and if numbers and sample stratification are sufficient, can be projected to the country as a whole.

Many sampling strategies and analytical designs are employed with quantitative studies. These could run the gamut from straightforward descriptive questions to more elaborate rating scales and clustering/factoring techniques. The design and analysis of quantitative studies is almost an “art form” and is best conducted by skilled professional researchers in collaboration with marketing clients.

Jack M. Shapiro is an internationally-known healthcare marketing researcher, consultant, futurist, broadcast journalist and public speaker.

Jack includes among his clients major companies in the pharmaceutical and biotech industries and insurance companies, advertising agencies, hospitals, and manufacturers of medical equipment, supplies and devices. Often quoted in the healthcare industry, general business, and lay publications, Jack has been a frequent guest on national television (ABC, NBC, MSNBC, CNBC, FOX, PBS and abroad on BBC and ITN) and radio as a commentator on healthcare trends and politics in the United States and overseas.

From 1997-1999, he was the host of “MEDI-POLITICS,” a nationally-syndicated radio show focusing on the politics and future of healthcare as well as key legal and ethical issues. The show reached more than 40 markets in 26 states (31 million people in-audience) and around the world on the internet.

Jack has spent 40 years in the healthcare field, both in the U.S. and abroad. Before forming his successful research and consulting company, he held high-level management positions in marketing and market research with healthcare giants such as Wyeth and Pfizer.

He is currently writing a book about the future of American healthcare based on his long experience in the healthcare industry, in-depth interviews with leading experts who appeared on his radio show as well as on-going poll results generated by his market research company.

Recently Jack was the event host and master-of-ceremonies at the “Global Pharma R&D Summit,” attended by over 250 top pharmaceutical scientists from around the world. Jack is also available to speak and write on future healthcare trends and is well-known keynote speaker.