When investigating a market that is new to you, qualitative insights can help ensure you’re heading down the right path.
MarketResponse begins by having discussions with your target customers, which could include clinicians, patients, purchasers and administrators; by way of in-person or online interviews, focus groups, or in situ observations.
From these qualitative explorations we want to find out:
- What are customers’ attitudes and experiences with current products and practices?
- What rich insights regarding unmet needs and pain points can we uncover?
- Are target customers attracted to your new product idea? If so, why?
- What do they see as the value and ultimate benefits from using the new product?
To determine market viability, and finetune product design and positioning, we conduct quantitative research, featuring our proprietary MedCon DiagnosticTM model.
- Quantify customers’ unmet needs, and attractiveness and desire for your new product
- Reveal relative importance and attractiveness of product features and benefits – diagnostic insights that inform product design and positioning
- Obtain price/value perceptions and estimates of volume of use at various price points