The Handbook of Market Research for Life Science Companies The Handbook of Market Research for Life Science Companies Finding the Answers You Need to Understand Your Market By Jean-Franỗois Denault CRC Press Taylor & Francis Group 6000 Broken Sound Parkway NW, Suite 300 Boca Raton, FL 33487-2742 © 2017 by Taylor & Francis Group, LLC CRC Press is an imprint of Taylor & Francis Group, an Informa business No claim to original U.S Government works Printed on acid-free paper International Standard Book Number-13: 978-1-138-71356-7 (Hardback) This book contains information obtained from authentic and highly regarded sources Reasonable efforts have been made to publish reliable data and information, but the author and publisher cannot assume responsibility for the validity of all materials or the consequences of their use The authors and publishers have attempted to trace the copyright holders of all material reproduced in this publication and apologize to copyright holders if permission to publish in this form has not been obtained If any copyright material has not been acknowledged please write and let us know so we may rectify in any future reprint Except as permitted under U.S Copyright Law, no part of this book may be reprinted, reproduced, transmitted, or utilized in any form by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying, microfilming, and recording, or in any information storage or retrieval system, without written permission from the publishers For permission to photocopy or use material electronically from this work, please access www copyright.com (http://www.copyright.com/) or contact the Copyright Clearance Center, Inc (CCC), 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400 CCC is a not-for-profit organization that provides licenses and registration for a variety of users For organizations that have been granted a photocopy license by the CCC, a separate system of payment has been arranged Trademark Notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe Library of Congress Cataloging‑ i n‑ P ublication Data Names: Denault, Jean-Francois, author Title: The handbook of market research for life science companies / Jean-Francois Denault Description: Boca Raton, FL : CRC Press, [2017] | Includes bibliographical references and index Identifiers: LCCN 2017005024| ISBN 9781138713567 (pbk : alk paper) | ISBN 9781315198606 (ebook) Subjects: LCSH: Biotechnology industries Research | Marketing research Classification: LCC HD9999.B442 D463 2017 | DDC 660.6068/8 dc23 LC record available at https://lccn.loc.gov/2017005024 Visit the Taylor & Francis Web site at http://www.taylorandfrancis.com and the CRC Press Web site at http://www.crcpress.com Contents Preface xi Introduction to Market Research xiii Author .xxiii Market Research Basics 1.1 Introduction to Market Research Process 1.2 Market Research Process 1.2.1 Prepare Your Market Research Plan 1.2.1.1 Exploratory Research 1.2.1.2 Descriptive Research 1.2.1.3 Causal Research 1.2.2 Data Collection Step 1.2.2.1 Design Sampling Plan 1.2.2.2 Design Your Tool 1.2.2.3 Collecting Data 1.2.4 Analyze Your Data 10 1.2.5 Prepare Your Data for Presentation 10 1.3 Case Study: Market Research Process in Action 11 Primary Research 13 2.1 Importance of Preparing a Market Research Tool 14 2.2 Designing a Data Collection Tool: Step by Step .15 2.2.1 Step One : Define the Context .15 2.2.2 Step Two: Build Your Question Bank 16 v vi ◾ Contents 2.2.3 Step Three: Build Your Data Collection Tool 16 2.2.4 Step Four: Validation .18 2.3 Formulating Questions .19 2.3.1 Closed-Ended Questions .20 2.3.2 Open-Ended Questions 22 2.3.3 Projective Questions 23 2.3.4 Choice Modeling Questions 25 2.3.5 Question Banks .26 2.3.6 Mindful Surveys .27 2.3.7 Things to Watch For 28 2.4 Incentives 31 2.5 Data Collection Methods 35 2.5.1 In-Depth Interviews .35 2.5.1.1 Keys to Performing a Good Interview 37 2.5.1.2 Different Types of Individual Interviews 39 2.5.1.3 Motivating Interview Respondents 41 2.5.1.4 Interviews in Life Sciences 42 2.5.2 Focus Groups 44 2.5.2.1 Guidelines to Preparing a Focus Group 46 2.5.2.2 Recruiting for a Focus Group 47 2.5.2.3 Running the Focus Group 49 2.5.2.4 Variation #1: Online Focus Groups 51 2.5.2.5 Variation #2: Triads 53 2.5.3 Traditional Surveys 54 2.5.3.1 Direct Mail Surveys 55 2.5.3.2 Telephone 56 2.5.3.3 In-Person/Street Surveys 56 2.5.4 Online Surveys .57 2.5.4.1 Tips for Designing Your Web Survey and Increasing Your Response Rates�����������������������������������59 2.5.4.2 Online Survey Tools 60 Contents ◾ vii 2.5.4.3 Mobile Online Surveys 62 2.5.4.4 Getting Participants 63 2.5.5 Delphi Method .65 2.5.6 Observation 66 2.5.6.1 Use in Life Sciences 69 2.5.7 Mystery Shopping 72 2.5.7.1 Use in Life Sciences 73 2.6 Closing Words on Ethics and Primary Market Research���������������������������������������������������������������������74 Secondary Research 77 3.1 Active Secondary Research .79 3.1.1 Government Data 79 3.1.2 Public Company Data 81 3.1.3 Print Media .82 3.1.4 Trade and Industry Groups 83 3.1.5 Scientific Publications 84 3.1.6 Market Research Firms 85 3.1.7 Competitive Start-Up Research through Specialized Websites�������������������������������������� 86 3.1.8 Blogs .87 3.1.9 Social Networks 88 3.1.10 Discussion Boards 90 3.1.11 Search Engines: Tips and Tricks 92 3.1.12 Power Up Google 93 3.2 Passive Secondary Research������������������������������������� 96 3.2.1 Rich Site Summary Feeds 96 3.2.2 Google Alerts 96 3.2.3 Web Monitoring Tools 97 3.2.4 Social Media Tracking 98 3.2.5 Online Collaborative Tools: Factr 99 3.2.6 Google Trends 99 3.2.7 A Word on Bots and Data Scrapers 100 3.3 Internal Secondary Data����������������������������������������� 101 3.4 Evaluating Your Secondary Research���������������������102 3.5 Limits of Secondary Research���������������������������������104 viii ◾ Contents Analyzing Data 107 4.1 Initial Data Analysis .108 4.1.1 Cleaning Up the Data 109 4.1.2 Preparation of Data 112 4.1.3 Specific Issues Relating to Cleaning Up Qualitative Data�������������������������������������������� 113 4.2 Data Analysis: Quantitative 113 4.2.1 Overview of Descriptive and Inferential Analysis �������������������������������������������������������� 114 4.2.2 Univariate Analysis 116 4.2.2.1 Frequency Distribution, Central Tendency, and Dispersion���������������� 116 4.2.2.2 Central Tendency 118 4.2.2.3 Dispersion 119 4.2.3 Multivariate Analysis 120 4.2.3.1 Contingency Tables 120 4.2.3.2 Correlation .121 4.2.3.3 Regression Analysis 123 4.2.3.4 General Linear Model .124 4.2.4 Software for Quantitative Analysis 124 4.3 Qualitative Data Analysis .126 4.3.1 Qualitative Data Analysis Process .127 4.3.1.1 Step One: Familiarization 128 4.3.1.2 Step Two: Identifying a Framework 128 4.3.1.3 Step Three: Coding the Data Using the Framework�����������������������134 4.3.1.4 Step Four: Use the Framework for Descriptive Analysis�������������������������137 4.3.2 Using Computer Software to Assist in Qualitative Analysis��������������������������������������137 4.3.3 Some Final Notes about Qualitative Analysis 140 4.4 Obstacles to Effective Analysis 140 4.4.1 Confusing Facts and Opinions 141 4.4.2 Researcher Bias 141 Contents ◾ ix 4.4.3 Complexity of Data 141 4.5 Future of Data Analysis 142 Estimates and Models 143 5.1 Appraising the Market Environment: The SWOT Model�����������������������������������������������������������������������143 5.1.1 Four Elements of a SWOT Model 144 5.1.2 Developing Strategy Applications from Your SWOT Model���������������������������������������� 147 5.1.3 An Alternative to SWOT: The SCORE Model 148 5.2 Appraising Market Size: The TAM-SAM-SOM Model����������������������������������������������������������������������� 149 5.2.1 Three Parts of the TAM-SAM-SOM Model 150 5.3 Appraising Customer Attributes: The Kano Model��� 154 5.3.1 Five Attributes of the Kano Model 155 5.3.2 Issues with Kano Modeling 157 5.4 Appraising Competitive Space: The Strategic Triangle (3C’ s)��������������������������������������������������������� 158 5.4.1 Implementing 3C’ s Strategic Triangle 159 5.5 A Final Note on Organizing Complex Data 160 The Look n’ Feel 161 6.1 Presenting Quantitative Data 162 6.1.1 Identification and Evaluation Step .163 6.1.2 Transforming Quantitative Data into a Graphic 164 6.1.3 Building a Graph 167 6.1.4 Decision Tree Modeling .168 6.2 Presenting Qualitative Data 170 6.2.1 Overview of Presenting Qualitative Data 170 6.2.2 Using Quotes to Reinforce Qualitative Presentations������������������������������������������������� 171 6.2.3 Visual Layouts to Display Qualitative Data 172 6.2.3.1 Qualitative Matrixes 173 6.2.3.2 Flowcharts 174 188 ◾ The Handbook of Market Research Everybody in the business ecosystem is looking for the same thing, the answer to the question “ Does the market exist?” And its market research that brings this world to life Starting from an approximation that there is a market, somewhere out there, the market research you will be building with the tools you have gathered from this book will help to shape that story, find out just how many people need your product, and what exactly they need From laboratory to market, the journey to learning your market can be iterative, and has to be ongoing, continually measuring your competitors’ innovation through competitive intelligence activities to reaching out to your customers through voice of customer activities So where does that leave us? As technology grows at a furious pace, so does our little corner of the market research world Many of the tools and techniques that were common 10 years ago, are now classified as “ traditional,” still useful, but slowly being replaced by new technologies that revolutionize many of the approaches that were all too common a few years ago While attempting to be contemporary, I have reviewed and suggested a number of software programs and platforms to help in your market research, analysis, and classification As you are reading this, some of the tools might already be defunct, replaced by newer and faster alternatives Case in point, during the editing of this book, I found two platforms that were no longer available between the time I wrote the first manuscript and its final review before submitting it, three months later Such is the curse of living in such a fast-paced world Today’ s given is tomorrow’ s memory Tomorrow’ s market research effort will most likely depend more on passive secondary research tools, as these become more efficient and include learning algorithms to generate better searches and pre-analyze data As technology improves, and people’ s knowledge of information technologies increases, market research will most likely shift to include more webbased online components, such as online focus groups and Final Words ◾ 189 online interviews, slowly replacing traditional in-person focus groups and telephone interviews Data that will be collected will increasingly be cross-checked with other databases: big data, a term that is overused, will probably take a more concrete form around consolidating data across organizations for more in-depth and effective research Finally, platforms akin to IBM Watson that consolidate, analyze, and visualize data are most likely going to play a bigger role in how we interact with our data, and how we choose to share it Social media is also likely to change Current monetization models that reward speed and quantity of information rather than accuracy create a pervasive world where good, useful information is drowned in the noise (both unintentionally and intentionally by organizations purposefully trying to generate noise to cover the right information) Social media can be an invaluable tool to gain insight, but triangulation is crucial to validate the information you gather from it Nonetheless, however technologies change, market research will continue to play a role in how organizations shape their interaction with their clients, their stakeholders, and their competitors It is my hope that this book gives you the tools you need to understand and share your story Bibliography and Further Reading Anderson, C 2010 Presenting and evaluating qualitative research American Journal of Pharmaceutical Education Vol 74: (8) Article 141 Camilli, G and Shepard, L A 1994 MMSS: Methods for Identifying Biased Test Items Thousand Oaks, CA: Sage Dariman, T 2007 Exubera inhaled insulin discontinued Diabetes Self-Management Available at: https://www.diabetesselfmanagement.com/blog/exubera-inhaled-insulin-discontinued/ (Accessed December 25, 2016) Edmunds, H 1999 The Focus Group Research Handbook (American Marketing Association) Lincolnwood, IL: NTC Business Books Esponda, F and Guerrero, V 2009 Surveys with negative questions for sensitive items Statistics & Probability Letters Vol 79(24): 2456– 2461 Few, S Perceptual Edge 2005 Effectively Communicating Number: Selecting the Best Means and Manner of Display (White paper) Gordon, R L 1969 Interviewing: Strategy, Techniques and Tactics Homewood, IL: The Dorsey Press Hedin, H., Hirvensalo, I and Vaarnas, M 2014 The Handbook of Market Intelligence: Understand, Compete and Grow in Global Markets Chichester, UK: John Wiley & Sons Heinemann, L 2008 The failure of exubera: Are we beating a dead horse? Journal of Diabetes Science and Technology (Online) Vol 2(3): 518– 529 191 192 ◾ The Handbook of Market Research Holiday, R 2013 Trust Me, I’ m Lying: Confessions of a Media Manipulator New York: Penguin Group Huebner, M., Werner, V and le Cessie, S 2016 A systematic approach to initial data analysis is good research practice Journal of Thoracic and Cardiovascular Surgery Vol 151(1): 25– 27 Kelly, D and Rupert, E 2009 Professional emotions and persuasion: Tapping non-rational drivers in health-care market research Journal of Medical Marketing: Device, Diagnostic and Pharmaceutical Marketing. Vol 9(1): 3– 9 Kenichi Ohmae, British Library, People—https://www.bl.uk/people/ kenichi-ohmae (Accessed March 27, 2017) Miles, M and Huberman, M 1994 Qualitative Data Analysis: An Expanded Sourcebook (Second Edition) Thousand Oaks, CA: Sage Mooi, E and Sarstedt, M 2014 A Concise Guide to Market Research: The Process, Data and Methods Using IBMS SPSS Statistics (Second Edition) Berlin: Springer Pit, S W., Vo, T and Pyakurel, S 2014 The effectiveness of recruitment strategies on general practitioner’ s survey response rates: A systematic review BMC Medical Research Methodology doi:10.1186/1471-2288-14-76 Rothwell, K 2008 Ethics: The limits of intelligence gathering Competitive Intelligence Magazine Vol 11(2): 34– 35 Sue, V M and Ritter, L A 2012 Conducting Online Surveys (2nd Edition) Thousand Oaks, CA: Sage Vach, W 2013 Transformation of covariates In Regression Models as a Tool in Medical Research (264– 273) Boca Raton, FL: Taylor & Francis Group Verdinelli, S and Scagnoli, N 2013 Data display in qualitative research International Journal of Qualitative Methods Vol 2013(12): 359– 381 Appendix: The Market Research Checklist Sometimes, you want your research to go beyond the standard question of: “ What’ s my market?” To help during the brainstorming and planning phase, here is a short list of question that can be useful to orient your research efforts Questions break down into three distinct categories: your corporation (the market, the product), your consumers, and your competitors Your Corporation ◾◾ What is the size of the market? ◾◾ Is the market growing, steady or declining? At what rate? ◾◾ Is it an established market or is it an emerging market? ◾◾ Are there any changes in the environment that may affect your product such as government legislation, regulatory changes, taxation, or more? ◾◾ Is your product a disruptive innovation or an incremental innovation? ◾◾ What is the best way to promote the product? ◾◾ What should your commercialization strategy be? ◾◾ What should your pricing strategy be? 193 194 ◾ Appendix Your Customers ◾◾ Who is the purchaser of the product/service? Who is the decision maker? ◾◾ What is their purchasing process? How can you reach them? ◾◾ Who uses the product/service? ◾◾ Is the purchaser different then the end user? How these two stakeholders interact? ◾◾ What is the product/service replacing? ◾◾ What is the user presently using to fill their current need? ◾◾ What potential customers/end users think of the product/service? ◾◾ What is the profile of your customers (location, age, gender, income level, etc.)? ◾◾ What are their needs? What need does the product specifically target? ◾◾ What are the customer service and retention strategies that are needed? Your Competitors ◾◾ What are the products that compete directly with your product? Indirectly? ◾◾ Who are the main competitors and what share of the market they have? – What are their strengths and weaknesses? – Where they have a competitive advantage? – What is their pricing strategy? – What is their branding strategy or Unique Selling Proposition? ◾◾ How can you differentiate your product from competing products? ◾◾ How is the market shaped? – What should your market segment be? – Are you positioning yourself correctly? ◾◾ How customers compare you with your competitors? Index A C Active secondary market research blogs, 87– 88 discussion boards, 90– 91 Google, 93– 95 government data, 79– 81 market research firms, 85– 86 print media, 82– 83 public company data, 81– 82 scientific publications, 84– 85 search engines, 92– 93 social networks, 88– 90 specialized websites, 86 trade and industry groups, 83– 84 ANOVA test, 124 Assistant moderator, 49 Atlas it, 139 Automated text analytics, 131– 133 CAGR, see Compound annual growth rate (CAGR) Causal market research, 5– 6 Central tendency, 118– 119 Charitable donations, 33– 34 Checkbox survey, 61– 62 Choice modeling questions, 25– 2 Closed-ended questions, 20– 22 CME, see Continuing medical education (CME) Company-based strategy, 159 Competitor-based strategy, 159 Compound annual growth rate (CAGR), 78 Confessions of a Media Manipulator (Holiday), 87 Contingency tables, 120– 121 Continuing medical education (CME), Contract research organizations (CROs), 70 Correlations, 121– 123 CROs, see Contract research organizations (CROs) Customer-based strategy, 159 B Bartering, 34 Big data, 142 Blogs, 87– 88 Bots and data scrapers, 100– 101 Bring Your Own Device (BYOD), 70 BYOD, see Bring Your Own Device (BYOD) 195 196 ◾ Index D Data analysis confusing facts and opinions, 140– 141 data complexity, 141 initial phase, 108– 113 cleaning up data, 109– 111 data preparation, 112 overview, 107– 108 qualitative, 113, 126– 140 computer software for, 137– 140 overview, 126– 127 process, 127– 137 quantitative, 113– 126 descriptive and inferential analysis, 114– 116 multivariate analysis, 120– 124 overview, 113– 114 software for, 124– 126 univariate analysis, 116– 120 researcher bias, 141 Data cleaning, 109– 111 Data coding, 134– 137 Data collection methods Delphi method, 65– 66 focus groups, 44– 54 guidelines to preparing, 46– 47 online, 51– 53 recruiting for, 47– 48 running, 49– 51 triad, 53– 54 in-depth interviews, 35– 44 in life sciences, 42– 44 motivating interview respondents, 41– 42 types of individual interviews, 39– 41 mystery shopping, 72– 74 observation, 66– 71 online surveys, 57– 64 getting participants, 63– 64 mobile, 62– 63 tips for designing, 59– 60 tools, 60– 62 traditional surveys, 54– 57 direct mail surveys, 55– 56 in-person/street surveys, 56– 57 telephone surveys, 56 Data complexity, 141 Data organization, 160 Data preparation, 112 Data scrapers, 100– 101 Data triangulation, 102– 104 Decision tree modeling, 168– 169 Delphi method, 65– 66 Descriptive and inferential analysis, 114– 116 Descriptive market research, Directed content analysis, 133– 134 Direct mail surveys, 55– 56 Direct remuneration, 32 Discussion boards, 90– 91 Dispersion, 119– 120 Double-barreled questions, 28 E E-mails, 43 Engagement questions, 46 Excel program, 125 Excel Statistics: A Quick Guide, 125 Excitement attributes, 156 Exit question, 46 Exploration questions, 46 Exploratory market research, 4– 5 F Face-to-face interviews, 40 Factr, 99 Feedly, 96 Financial data, 101 Index ◾ 197 Flowcharts, 174– 175 Focus groups, 44– 54 guidelines to preparing, 46– 47 online, 51– 53 recruiting for, 47– 48 running, 49– 51 triad, 53– 54 Free food, 33 Frequency distribution, 116– 118 Fuld, Leonard, 92 Inferential and descriptive analysis, 114– 116 Infographics, 181– 183 Initial data analysis phase, 108– 113 cleaning up data, 109– 111 data preparation, 112 In-person/street surveys, 56– 57 Internal expertise, 102 Internal secondary data, 101– 102 Interval question, 20– 21 G J General linear models, 124 Google, 93– 95 Google Alerts, 96– 97 Google Glasses, 71 Google Surveys, 61 Google Trends, 99– 100 Government data, 79– 81 Graphical representations building, 167– 168 decision tree modeling, 168– 169 description, 164– 166 JMP, 126 H Manual iteration, 129– 131 Marketing versus technology, 184– 185 Market research case study, 11 data analysis, 10 data collection phase, 6– 10 designing research tool, 8– 9 sampling plan, 6– 8 data presentation, 10– 11 overview, 1– 2 preparing, 3– 6 causal, 5– 6 descriptive, exploratory research, 4– 5 Market research firms, 85– 86 Mindful surveys, 27 Mobile online surveys, 62– 63 Head moderator, 49 HealthKit Wellness App, 71 Health Service Research, 31 Holiday, Ryan, 87 I IBM SPSS Statistics, 125 IBM Watson, 142 Incentives, 31– 35 In-depth interviews, 35– 44 in life sciences, 42– 44 motivating interview respondents, 41– 42 types of individual interviews, 39– 41 K Kano model five attributes of, 155– 157 issues with, 157– 158 overview, 154– 155 Keyhole, 98 M 198 ◾ Index Multivariate analysis, 120– 124 contingency tables, 120– 121 correlations, 121– 123 general linear models, 124 regression analysis, 123– 124 Mystery shopping, 72– 74 N Negative question, 29– 30 NetVibes, 96 Neutral attributes, 156 Nominal questions, 20 Non-monetary gifts, 33 O Observation, 66– 71 Online collaborative tools, 99 Online focus groups, 51– 53 Online interviews, 40– 41 Online surveys, 57– 64 getting participants, 63– 64 mobile, 62– 63 tips for designing, 59– 60 tools, 60– 62 Open-ended questions, 22– 23 Ordinal questions, 20 Overlapping interval answer sets, 28 P Passive secondary market research bots and data scrapers, 100– 101 Google Alerts, 96– 97 Google Trends, 99– 100 online collaborative tools, 99 Rich Site Summary (RSS) feeds, 96 social media tracking, 98 web monitoring tools, 97– 98 Performance attributes, 155– 156 Pew Global, 62 Photo sort questions, 24 Pollfish, 62 PowerPoint, 53 Presentations graphical representation building, 167– 168 decision tree modeling, 168– 169 description, 164– 166 overview, 161– 162 qualitative data flowcharts, 174– 175 overview, 170– 171 qualitative matrixes, 173– 174 quotes to reinforce, 171– 172 visual layouts to display, 172– 175 quantitative data, 162– 169 identification and evaluation step, 163– 164 tools infographics, 181– 183 The 10/20/30 rule, 179– 180 slideshows, 176– 180 visual storytelling software, 180– 181 Primary market research data collection methods Delphi method, 65– 66 focus groups, 44– 54 in-depth interviews, 35– 44 mystery shopping, 72– 74 observation, 66– 71 online surveys, 57– 64 traditional surveys, 54– 57 designing data collection tool, 15– 19 formulating questions choice modeling questions, 25– 26 Index ◾ 199 closed-ended questions, 20– 22 mindful surveys, 27 open-ended questions, 22– 23 projective questions, 23– 25 question banks, 26 importance of market research tool, 14– 15 incentives, 31– 35 overview, 13 Print media, 82– 83 Projective questions, 23– 25 PSPP, 126 Public company data, 81– 82 Q QDA Miner, 140 Qualitative data analysis, 113, 126– 140 automated text analytics, 131– 133 computer software for, 137– 140 data coding, 134– 137 directed content analysis, 133– 134 manual iteration, 129– 131 overview, 126– 127 process, 127– 137 Qualitative data presentations flowcharts, 174– 175 overview, 170– 171 qualitative matrixes, 173– 174 quotes to reinforce, 171– 172 visual layouts to display, 172– 175 Qualitative matrixes, 173– 174 Quantitative data analysis, 113– 126 descriptive and inferential analysis, 114– 116 multivariate analysis, 120– 124 contingency tables, 120– 121 correlations, 121– 123 general linear models, 124 regression analysis, 123– 124 overview, 113– 114 software for, 124– 126 univariate analysis, 116– 120 central tendency, 118– 119 dispersion, 119– 120 frequency distribution, 116– 118 Quantitative data presentations, 162– 169 identification and evaluation step, 163– 164 Question banks, 26 Questionnaires, 54 R Regression analysis, 123– 124 Researcher bias, 141 Reverse attributes, 156 Rich Site Summary (RSS) feeds, 96 RSS, see Rich Site Summary (RSS) feeds RSSOwl, 96 The 10/20/30 rule, 179– 180 S Sales data, 101 Salkind, Neil, 125 SAS, 125– 126 Scientific publications, 84– 85 Search engines, 92– 93 Secondary market research active blogs, 87– 88 discussion boards, 90– 91 Google, 93– 95 government data, 79– 81 market research firms, 85– 86 print media, 82– 83 200 ◾ Index public company data, 81– 82 scientific publications, 84– 85 search engines, 92– 93 social networks, 88– 90 specialized websites, 86 trade and industry groups, 83– 84 data triangulation, 102– 104 internal secondary data, 101– 102 limits of, 104– 105 overview, 77– 79 passive bots and data scrapers, 100– 101 Google Alerts, 96– 97 Google Trends, 99– 100 online collaborative tools, 99 Rich Site Summary (RSS) feeds, 96 social media tracking, 98 web monitoring tools, 97– 98 The Secret Language of Competitive Intelligence (Fuld), 92 Sentence and story completion, 24 Serviceable available market, 152 Serviceable obtainable market, 153– 154 Slideshows, 176– 180 Social media tracking, 98 Social networks, 88– 90 Social security number (SSN), 31 Software, for quantitative data analysis, 124– 126 SSN, see Social security number (SSN) The Strategic Triangle (3C’ s) implementing, 159 overview, 158 Strengths, Challenges, Options, Responses, and Effectiveness (SCORE) model, 148– 149 SurveyGizmo, 61 Survey Monkey, 60– 61 SWOT (strengths— weaknesses— opportunities— threats) model, 143– 149 four elements of, 144– 147 overview, 143– 144 strategy applications, 147 Strengths, Challenges, Options, Responses, and Effectiveness (SCORE) model, 148– 149 T TAM-SAM-SOM model, 103, 149– 154 overview, 149– 150 three parts of, 150– 154 Telephone interviews, 40 Telephone surveys, 56 Tepoztlan interview strategy, 34 Third-person technique, 24 Threshold attributes, 155 Total attainable market, 151– 152 Trade and industry groups, 83– 84 Traditional surveys, 54– 57 direct mail surveys, 55– 56 in-person/street surveys, 56– 57 telephone surveys, 56 Triad focus groups, 53– 54 U Univariate analysis, 116– 120 central tendency, 118– 119 dispersion, 119– 120 frequency distribution, 116– 118 V Visual storytelling software, 180– 181 Vouchers, 32– 33 Index ◾ 201 W Z Warble, 98 Web monitoring tools, 97– 98 Word association questions, 23– 24 Zintro, 44 Zoho Survey, 61 .. .The Handbook of Market Research for Life Science Companies? ?? The Handbook of Market Research for Life Science Companies? ?? Finding the Answers You Need to Understand Your Market By Jean-Franỗois... a potential market The objective of this book is to fill the role of a handbook in market research for life sciences organizations, helping them organize their market research efforts as well... determining the research design a Identify and formulate the problem : The first step of the market research process is to identify and formulate the problem (or the opportunity) By formally defining the