Mardis de l'AIGx Patrick DENIS Démystifier les études de marché

1. Les Mardis de l’AIGx
Thorembais-Saint-Trond
26 mars 2013

2. Démystifier les études de marché
Les comprendre et pouvoir les aborder
(Quelques exemples du secteur Pharma)
Ir Patrick Denis
Fondateur et Directeur de Talensis SPRL
International Consultant chez Borderless Executive Search

3. 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

4. • 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

5. • 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

6. 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

7. Agenda
 Marketing Research
 Desk Research
 Field Research
 Marketing Research Process
 Marketing Research Planning
 Conclusions

8. Marketing ResearchMarketing Research

9. Intelligence is not about
having knowledge, but knowing
what knowledge is worth having
Marketing Research : quotes

10. Don’t navigate in the dark…

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

12. Knowledge for the sake of knowledge can be a waste of time and
money for a commercial, profit-making organization
What is Marketing Research ?

13. 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

14. 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)

15. 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 : Objective

16. 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

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

18. 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

19. 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

20. International vs Home Marketing
Research
 Language
 Culture
 Economic differences
 Political and legal factors
 Climate and geography
 Business practices
 Standards
Aspects :

21. Types of Marketing Research
Marketing Research
Ad-hoc Continuous
Desk Research
(Secondary Research)
Field Research
(Primary Research)
Continuous
Tracking
Periodic
Monitoring
Qualitative
Research
Quantitative
Research

22. 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,...

23. 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

24. 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

25. Time
Do It Yourself, If You Have:
Expertise
Staff
Resources

26. Desk ResearchDesk Research

27. “Pulling together a number of different information
sources to create a picture of a situation within a
market”
Desk Research : what is it ?

28. Desk Research purposes
 Performance measurement: historical analysis
 Market evaluation: defining a market
 Assistance in specifying the Field Research: e.g.
universe size, composition, segmentation,…

29. 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

30. 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

31. Field ResearchField Research

32. Field Research sources
• Field Research : Primary Data sources
 Personal interviews
 Telephone interviews Each using
 Mail questionnaires various specific
 Group discussions techniques
 Panels

33. Quantitative vs Qualitative
QualitativeQuantitative
•Exploratory
•Why ?
•Definitive
•How many ?

34. 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

35. 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

36. 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

37. 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

38. 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

39. 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

40. Marketing ResearchMarketing Research
ProcessProcess

41. 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

42.  Databases
 Published Information
 Objectives
 Questionnaire
 Survey
 Tabulate
 Report
 Positioning
 Targeting
Marketing Research study process
Desk/Secondary Research
Field/Primary Research
Marketing

43. 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

44. Most important steps
• Briefing : internal preparation
The issue : the key to good research

45. 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 ?

46. Marketing Research process
 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

47. Most important steps
• Briefing to the Market Research agency
 Information on company and products
 Information on market
 Research objectives
 Research design
 Timing

48. 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

49. Most important steps (Cont’d)
• Selection of MR agency
 Agency capabilities (size, experience, location, ...)
 Proposed timing
 Creativity regarding methodology
 Client - Agency interface (Human chemistry)
 References
 Price

50. • 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)
Most important steps (Cont’d)

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

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

53. • 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
Most important steps (Cont’d)

54. Marketing Research PlanningMarketing Research Planning

55. 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 MARKET
ASSESSMENT
EXTENSIVE PRE-LAUNCH
MARKET RESEARCH PROGRAM
POST-LAUNCH
RESEARCH
STAGE 1
OPPORTUNITY
ANALYSIS
STAGE 2
STRATEGY
DEVELOPMENT
STAGE 3
LAUNCH
PLANNING
STAGE 4
LAUNCH
EVALUATION
STAGE 5
EXPANSION
ANALYSIS
STAGE 6
RISK
ANALYSIS
BASIC/
EXPLORATORY
STUDY POSITIONING
STUDY
CONCEPT
TESTING
PRICING
RESEARCH
TRADEMARK
TESTING
DETAIL
SPEECH
&
DETAIL
AID
TESTINGS
(with sales
reps)
RESULTS
MONITORING
1st LAUNCH
EVALUATION
2nd LAUNCH
EVALUATION
DETAILED
POST-LAUNCH
EVALUATION
NEW TARGETS
NEW CONCEPTS/
NEW FORMULATIONS
TESTING
PROMOTIONAL
SPENDING
IMPACT

56. Marketing Research process
Professionalism is required at each stage
to
control and keep cost at minimum

57. 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.

58. 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 :

59. Marketing Research practical tools
http://fr.surveymonkey.com/

60. Marketing Research practical tools

61. Marketing Research practical tools

62. 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)

63. 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 : Objective

64. 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

65. Any questions ?

66. Thank youThank you
andand
Good success !Good success !