Market Research Plan Development

---

• Definition
• Key Learning Objectives
• Who Should Attend
• Content
• Leavebehind
• Contact for More Information

Definition

Back To Top

• The Market Research plan is a tool to improve decision-making (by reducing risk) at each step of the marketing process. The plan maps out projects and budgets over a 12-month period for products and/or therapeutic divisions.

Key Learning Objectives

Back To Top

• Understand the role of marketing research at each stage of a product's lifecycle
• Gain awareness of the types of marketing research studies conducted from initial product development through product maturity
• Learn how sequential studies build on each other
• Identify what types of studies may be most appropriate given brand/division objectives
• Identify the breadth of studies that support in-line products or products in development

Who Should Attend

Back To Top

• Market Research
• Marketing
• Marketing Communications
• Forecasting
• Pricing Groups

Content

Back To Top

• Research strategy and planning: tailoring marketing research to the needs of a product at each stage of its lifecycle
• Elements of the plan may include: discussion of different sources of secondary data and the type of information they represent
  1. Prelaunch; focusing on developing and building the product
     1. Concept testing
     2. Product testing
     3. Name testing
     4. Package testing
     5. Positioning research
     6. Insight research
     7. Segmentation and targeting research
     8. Benchmarking
     9. Managed care/payor research
     10. Pricing research
     11. Message testing
     12. Promotional materials/sales aid testing
     13. Prelaunch awareness tracking studies
     14. Postlaunch: tracking issues
     15. What makes audit data different from data reported in a financial analyst's report or a syndicated report
  2. In-line products
     1. Many of the studies listed in Section 1. (Prelaunch) continue
     2. Postlaunch awareness tracking
     3. Source of business tracking (patient data on initial and repeat usage)
     4. Usage tracking studies (your product and competing products)
     5. User/nonuser qualitative research on usage and attitudes.
     6. Sales force effectiveness and message testing
  3. Mature products
     1. Focus on finding new opportunities to build further product interest and sales
     2. Product line extensions
     3. New advertising and promotion (types and content)
     4. New target audiences
     5. New/redesigned packaging
     6. New uses and indications
     7. Refreshing the promotional campaign
     8. Responding to competitive threats
     9. Source of business tracking
  4. Decline: salvaging product to slowing the decline in sales; research may include exploring whether changes in any of the following areas are likely to impact product sales:
     1. Physical attributes of the product
     2. Repositioning
     3. Market segmentation
     4. Advertising
     5. Packaging
     6. Price
     7. Distribution
• The market research planning process: a tool used in alignment with the strategies and tactics of the brand team
  1. Opportunity identification
     1. Introducing a new product: concept testing/product testing/positioning research, segmentation study, message testing, promotional materials testing, package research, name testing, managed care/payor research, pricing research
     2. Developing an improved product: product testing, positioning research, segmentation study, message testing, pricing research
     3. Introducing a product line extension: product testing, source of business study, tracking study
     4. Repositioning a product: positioning research, segmentation study, message testing, promotional materials testing
     5. Targeting a product in different/additional market segments: segmentation study, message testing, promotional materials testing
     6. Revising advertising for a product: message testing, promotional materials research
• Presenting the plan (blinded examples of prepared market research plans)

Leavebehind

Back To Top

• Each participant will receive a 2-sided laminated card with key learnings from the course

For More Information, Contact:

Leslie Goldberg, Executive Vice President

666 Godwin Avenue, Suite 320
Midland Park, NJ 07432
p: 201-670-7722 ext. 205
f: 201-670-8707
lgoldberg@advantageh.com