mardis de l'aigx - patrick denis

Les Mardis de l’AIGxThorembais-Saint-Trond

26 mars 2013

Démystifier les études de marché

Les comprendre et pouvoir les aborder (Quelques exemples du secteur Pharma)

Ir Patrick DenisFondateur et Directeur de Talensis SPRL

International Consultant chez Borderless Executive Search

Talensis

• Created in October 2010• I offer my experience to companies (client side and agency side) and

individuals to help them grow and fully exploit their potential• Consultancy and support on an ad-hoc or longer term part-time basis,

depending on client's needs on: Management ad interim of Market Research, Business/Market

Intelligence, Competitive Intelligence and Market Analytics projects, Department set-up or Organizational changes

Business Development Personal development, career coaching and professional guidance• Usual clients are typically small or start-up companies requiring (part-time)

expert support and larger companies in need for experienced, directly operational ad-hoc interim support

• Other activities include fine art/people/architecture photography and scientific/medical translations

• Founded in 2000, Borderless is a retainer-based, direct search firm and leadership consultancy, specializing in four B2B sectors :

Process & converting industries (chemicals,…) Life sciences Food processing Environmental technologies

• Borderless consultants have each held senior leadership roles in multinational organizations within one or more of the sectors we serve

• Working with clients worldwide, we operate from bases in Belgium, France, Singapore, Sweden, Switzerland, United Kingdom , the United Arab Emirates and the USA

http://borderless.net

Borderless Executive Search

http://borderless.net/

• Borderless is a trusted partner for companies requiring assistance in : finding and attracting executives for roles in board, general

management and functional leadership positions designing leadership and talent management strategies facilitating the onboarding of new executives during the first 100 days

in their new role

• Clients and candidates alike have praised our people-friendly, service-intensive approach to delivering results.

http://borderless.net

Borderless Executive Search

http://borderless.net/

Today’s goals

Allow each one of you to : avoid common pitfalls discuss with, understand and challenge a

Marketing Research agency commission and get the most of a Marketing

Research project

Agenda

Marketing Research Desk Research Field Research Marketing Research Process Marketing Research Planning Conclusions

Marketing ResearchMarketing Research

Intelligence is not about

having knowledge, but knowing

what knowledge is worth having

Marketing Research : quotes

Don’t navigate in the dark…

Competitive Intelligence

Your competitors are watching you. So, you’d better watching them !

Knowledge for the sake of knowledge can be a waste of time and money for a commercial, profit-making organization

What is Marketing Research ?

What is Marketing Research : Definition

Marketing Research is the systematic and objective

search for, analysis, storage and distribution of

information relevant to any clearly identified problem

relating to the marketing (4 Ps) of goods and services

undertaken to increase the likelihood of the most

effective marketing action to be implemented

What is Marketing Research : Objective

“Marketing Research has only one use : To help managers make the best business decisions. Unless it does this, Marketing Research is a wasted effort”

“Future business decisions should always be specified in the description of any Marketing Research project”

Dr. Walter Williamson

Mgr. Marketing & Business Research

DuPont (Polymer Prod. Dept)

Marketing Research should be forward looking and relate to decision-making.

It is not a substitute for decision-making, but a key-aid to this process.


What is Marketing Research : Characteristics

• It can Save you, make you or cost you a lot of money Be “quick and dirty” Or be expensive and precise

Help you make decisions

• It cannot/should not Be used to justify past actions Make decisions for you

Most of the time, the facts and knowledge you need are more easily obtainable than you probably realize

Benefits of Marketing Research

Implementation of the most effective marketing action

Replaces subjective opinion with hard facts

Reduces business risks

Confers competitive advantage

Instills confidence

Focuses on key issues

The 5 “C’s” of Marketing Research

The importance of : CCompetence

The need for : CCreativity

The awareness of : CChange

The need to : CCommunicate

The establishment of : CCredibility

International vs Home Marketing Research

Language

Culture

Economic differences

Political and legal factors

Climate and geography

Business practices

Standards

Aspects :

Types of Marketing Research

Marketing Research

Ad-hoc Continuous

Desk Research(Secondary Research)

Field Research(Primary Research)

ContinuousTracking

PeriodicMonitoring

QualitativeResearch

QuantitativeResearch

What Information can Marketing Research provide ?

Market Research Size, players’ profile, market shares, imports,

exports, trend data,...

Product Research What is right or wrong with the products or services

sold, formulation used, pricing issues, competitive molecules, concept testing, name testing, packaging studies,...

Advertising and Promotional Research Most effective ways of communicating

with/influencing key decision-makers, media research, detail folder and advertisement testing,...

What Information can Marketing Research provide ?

Distribution Research

Distribution channels being used

Motivational Research

Buying process (influencers, choice criteria,...),...

Attitude/Image Research

Customers’ attitudes, to the products and their suppliers, reaction to changes, brand awareness, corporate image study,...

Customer Service/Satisfaction Research Customers’ key requirements and how do suppliers rate on these key

attitudes,...

Sales Force Effectiveness Studies

M & A and Other Financial Information Research

Competitive Intelligence Research

Internal vs. External

• The decision to outsource or not the Marketing Research project can be influenced by :

Costs of the research Lack of internal “know-how” Lack of internal resources (local/corporate) Objectivity and credibility of an external input

Time

Do It Yourself, If You Have:

Expertise

StaffResources

Desk ResearchDesk Research

“Pulling together a number of different information sources to create a picture of a situation within a

market”

Desk Research : what is it ?

Desk Research purposes

Performance measurement: historical analysis Market evaluation: defining a market Assistance in specifying the Field Research: e.g.

universe size, composition, segmentation,…

Desk Research sources• Desk Research : Secondary Data sources

In-house information (company files, MIS, people,...) Libraries : magazines, directories, publications, journals,... Stockbrokers and banks Commercial marketing research organizations : multi-client

studies Government Universities On-line databases, internet Professional/Trade associations and personal contacts

Desk Research application: Information Tracking System

• Monitor sales, usage and performance Product sales vs competitors to detect changes Sales/usage by diseases Changes in Rx size, length of therapy, dosage form Promotional message and impact on sales Representative detailing by specialty

• Use the Secondary Data available Compile in a systematic/usable form Issue regular summary reports Highlight changes in trends

Field ResearchField Research

Field Research sources

• Field Research : Primary Data sources

Personal interviews Telephone interviews Each using Mail questionnaires various specific Group discussions techniques Panels

Quantitative vs Qualitative

QualitativeQuantitative

•Exploratory•Why ?

•Definitive•How many ?

Qualitative

Quantitative

Field Research: types

Discovering attitudes, beliefs and responses to products, situations, events, advertising, etc.

Smaller sample size

Measuring the extent of attitudes and beliefs, etc. Measuring product usage (or non-usage) Estimating frequencies of events Numerical Larger sample size

Sample Range of Range of size error “true” figures*_________________________________________________

100 10% 40 to 60% 300 6% 44 to 56% 500 5% 45 to 55% 1000 3% 47 to 53%_________________________________________________* When the figure obtained is 50 percent.

Source : Marketing Research, G. Breen & A. Blankenship

Error range versus sample size

Sample size and population size

The statistical accuracy of your survey results depends on how many people you have interviewed NOT on the size of the population

Suitable for:

Advantages:

Disadvantages:

Group discussions or Focus groups

Initial, exploratory research Definition of the research problem Generating and testing product and promotional ideas Aid in designing the research program, questionnaire,

concept statements, etc…

Economical (compared to cost of personal in-depth interviews) Fast – can be set up and carried out within short period of time Unstructured format flexible for exploratory stages of research

Requires highly-skilled moderator Very susceptible to bias - from moderator and from group members Analysis requires considerable skill

Suitable For:

Advantages:

Personal interviews

Initial, exploratory research

Basic, structured survey research

Small or large sample sizes

Flexible - as to topic, content (visual aids, picture), length, place of interview (office, hospital, hotel, etc...)

Accessible - all types of respondents can be reached

Fewer problems with non-response than telephone and mail surveys

Adaptable - open-ended and structured questions

Disadvantages:

Applications:

Personal interviews

Bias from interaction of interviewer and respondent

Time consuming - training of interviewers and supervision of field personnel

Expensive - depending on length and complexity of the interview and level of skill required of the interviewer, geographic distribution and availability of respondents

Personal interviews with physicians/surgeons in offices, clinics and hospitals

Personal interviews at medical meetings, congresses, seminars and symposia

Marketing Research Marketing Research ProcessProcess

Flowchart of a Marketing Research project

Definition of the Problem

Exploratory Research

Results of the Exploratory Research

Descriptive Research

Conclusions and Recommendations

Decisions/Action Plan

Problem well defined

Problem badly defined

Problem not solved

Problem solved

Databases Published Information

Objectives

Questionnaire

Survey

Tabulate

Report

Positioning Targeting

Marketing Research study process

Desk/Secondary Research

Field/Primary Research

Marketing

Critical stages of Market Research

Briefing : internal preparation Briefing to the Market Research agency Review of research proposals from the MR agency Selection of MR agency Designing the questionnaire and pre-testing Controlling the development of the project Data interpretation Presentation of the findings and “actionable” recommendations Action plan

Most important steps

• Briefing : internal preparation

The issue : the key to good research

Marketing Research process

What information do you need ?

What decisions do you have to make or actions to take ?

Can the research achieve this for you ?

What is it worth ?

Have you got the requirements right ?

What do you want to know and what will you do with it ?


What information do you already have ? Have you got the budget for it ? How accurate must the data be ? What timescale ? Who should undertake the research ? In-company vs external ?

If external: Research brief, choice of possible consultants, briefings, research proposals, selection of consultant, research, final report, research results, recommendations and action plan

Most important steps

• Briefing to the Market Research agency Information on company and products Information on market Research objectives Research design Timing

Most important steps (Cont’d)

• Review of Research Proposals from the MR agency Understanding of company problem Research method with justification Description of the population and proposed sample Sample forming Organization of the field work Flow chart of the questionnaire Data processing Timing Cost


• Selection of MR agency Agency capabilities (size, experience, location, ...) Proposed timing Creativity regarding methodology Client - Agency interface (Human chemistry) References Price

• Designing the Questionnaire and pre-testing Clear objectives Question types :

- open-ended

- closed-ended (two-choice, multiple choice, scaling) Wording Clear, non-ambiguous meaning Logic : general ---> specific/sensitive Length, layout (personal, telephone, mail)


Constructing the questionnaire is one of the most difficult steps in the research process

Designing the questionnaire

Each question should have a specific meaning and one that is the same for every respondent

Designing the questionnaire

• Controlling the development of the project Close and regular contact with the agency during the

whole process

• Data Interpretation Analysis instructions, code book, ...

• Presentation of the findings and recommendations• Format, content “Actionable” recommendations

• Action Plan Ownership Deadlines


Marketing Research PlanningMarketing Research Planning

Keys to Marketing Success : planning(- 4 yrs) (- 3 yrs) (- 1 yr)(- 10 yrs) (- 2 yrs) (- 6 mths) (- 3 mths) (+ 3 mths) (+ 6 mths)

Phase I Phase II Phase III Filing Launch

INITIAL MARKETASSESSMENT

EXTENSIVE PRE-LAUNCH MARKET RESEARCH PROGRAM

POST-LAUNCHRESEARCH

STAGE 1OPPORTUNITY

ANALYSIS

STAGE 2STRATEGY

DEVELOPMENT

STAGE 3LAUNCH

PLANNING

STAGE 4LAUNCH

EVALUATIONSTAGE 5

EXPANSIONANALYSIS

STAGE 6RISK

ANALYSIS

BASIC/EXPLORATORY

STUDY POSITIONINGSTUDY

CONCEPTTESTING

PRICINGRESEARCH

TRADEMARKTESTING

DETAILSPEECH

&DETAIL

AIDTESTINGS(with sales

reps)

RESULTSMONITORING

1st LAUNCHEVALUATION

2nd LAUNCHEVALUATION

DETAILEDPOST-LAUNCHEVALUATION

NEW TARGETSNEW CONCEPTS/

NEW FORMULATIONSTESTING

PROMOTIONALSPENDING

IMPACT


Professionalism is required at each stage

to

control and keep cost at minimum

Marketing Research : Professional Associations

These are representative bodies of individuals who are engaged in Marketing Research.

Their aim is to ensure that professional standards are maintained, that knowledge is communicated, and that the value of research is appreciated by the business community and by the public at large.

Marketing Research Code of Conduct

The Code of Conduct is designed to support all those engaged in Marketing Research in maintaining professional standards throughout the industry. Assurance that research is conducted in an ethical manner is needed to create confidence in, and to encourage cooperation among the business community, the general public and others.

Aim :

Marketing Research practical tools

http://fr.surveymonkey.com/

Marketing Research practical tools


“Marketing Research has only one use : To help managers make the best business decisions. Unless it does this, Marketing Research is a wasted effort”

“Future business decisions should always be specified in the description of any Marketing Research project”

Dr. Walter Williamson

Mgr. Marketing & Business Research

DuPont (Polymer Prod. Dept)

Marketing Research should be forward looking and relate to decision-making.

It is not a substitute for decision-making, but a key-aid to this process.


Today’s goals

Allow each of you to : avoid common pitfalls discuss with, understand and challenge a

Marketing Research agency commission and get the most of a Marketing

Research project

Any questions ?

Thank youThank youandand

Good success !Good success !

mardis de l'aigx - patrick denis

Education