Opportunity Assessment Projects
Market Potential Project
Issue
Client wanted to assess future growth in sales and market share of two new diabetes drugs. The client was interested in penetration and usage by two physician specialties.
Methodology
- Online survey with over 150 physicians. Pilot tested survey with four physicians and conducted follow-up telephone interviews
- Analyzed current and projected future usage of the new drugs, identified current therapies affected by new drug uptake, assessed drugs' promotion and education, quantified patients discontinuing the new drugs, and identified areas of upside sales potential
Results
Client utilized study findings in revenue models. Client planning to repeat study periodically to track product in early part of life cycle.
more information about Market Potential ServicesStrategic Analysis Project
Issue
Client with a novel drug/device for wound closure/healing market needed to determine applications most likely to produce the highest revenue stream.
Methodology
- Identified a three phase market research study design: each phase to look at progressively less likely candidate areas
- Secondary research to identify market size, growth, current standards of care, evolving technologies
- Primary research with physicians in each specialty to assess satisfaction levels with current options, initial reactions to features and benefits of client drug, likely usage, and perceived strengths and drawbacks
Results
Client actively pursuing recommended areas; sales ahead of plan.
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