Advice You - Business

For people considering market research, a point that often trips them up is the difference between qualitative and quantitative market research. Unfortunately, there are such important dis

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

tinctions between those two types of research methodologies that it’s difficult to consider the pros and cons of conducting market research until those differences are made clear. That’s t

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

e goal of this article.

I know that it’s stating the obvious, but the terms really are made much easier by remembering their root words – quantitative market research measures the quantity o

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

respondents who feel or act in a certain way. While qualitative market research is helpful in understanding the quality of a customers’ behavior or attitudes – why do they feel or act in

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

a certain way.

Qualitative = Quality (hows and whys or “directional”)

Quantitative = Quantity (less depth, but includes solid numbers)

Quantitative Market Research

Quantitative research i

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

a rigid research tool that typically asks every respondent an identical set of questions, generally allowing the respondent only to select from a group of pre-defined answers. In order to

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

provide a set of answer-categories, the team writing the research survey must have a very good understanding of the respondent’s feelings and attitudes before conducting quantitative research

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

. However, the benefit of quantitative market research is that it’s possible to compare the preferences or satisfaction levels of groups of people to understand the inter-related factors tha

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

drive key outcomes (like brand preference). Quantitative research studies generally include far more respondents – often hundreds or thousands of respondents and are not typically done fa

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

e to face. Examples of standard quantitative market research methodologies include: phone interviews, web or mail questionnaires. Quantitative studies also tend to be shorter in general

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

because they involve an overview of a topic and less of an in-depth discussion – a typical quantitative study might take a respondent 10 or 20 minutes to complete.

Qualitative Market Researc

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

Qualitative research is generally much less structured, and is often described as being more “exploratory” or “directional” because it seeks to reveal new attitudes or perspectives that may

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

exist toward a topic or product category. Qualitative could be described as more freeform, often with broad questions such as “what do you like about that?” or “what would your ideal product

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ook like?” Often questions asked of respondents in qualitative research don’t include specific answers; instead they simply prompt the respondent to answer the questions in their own word

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

s. Allowing customers to answer in their own words, without constraint or suggestions, does tend to uncover factors that may be working underneath the surface, although it also makes statis

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ical analysis impossible. Qualitative research is often conducted face to face and typical qualitative methodologies include focus groups, in-depth-interviews or phone discussions (as oppose

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

to more rigid questionnaires). Qualitative research often requires a greater time commitment from respondents and may last 45 minutes to a couple of hours. Qualitative research often

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

equires an incentive to convince the respondent to participate.

There are also research projects in which both qualitative and quantitative market research methodologies are combined togethe

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

. This approach allows the ability to unearth difficult to find feelings or attitudes, just beneath the surface, as well as the ability to understand the size of the different groups and c

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

nduct statistical comparisons. There is another article that describes an example of this type of approach entitled “Market Research: An Example with Qualitative and Quantitative Research”

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.adviceyou.org.ua/article/2610/adviceyou-Market-Research-Qualitative-Quantitative-and-Everything-In-Between.html">Market Research: Qualitative, Quantitative and Everything In Between</a>

BB link (for phorums):
[url=http://www.adviceyou.org.ua/article/2610/adviceyou-Market-Research-Qualitative-Quantitative-and-Everything-In-Between.html]Market Research: Qualitative, Quantitative and Everything In Between[/url]

Have you ever wanted to find your dream job? This article will show you how to find, interview for and land your dream job.

Packaging is often an afterthought when it comes to putting together a retail product for sale. But for a product to reach its potential it needs to have great packaging. This article explains how to get the most out of your packaging for your retail product.

Starting one's own business was never so easy. Now thanks to the advancement in web-based technology, you can virtually start your business without moving a muscle. All you need is an access to the Internet and you can go about starting your dream venture. The first thing that comes to mind when you are on the verge of starting your business is the business forms. When it comes to business forms, there are forms and forms. You will be amazed at the number of forms you need to maintain for running your business successfully.

Tags

Links

Advice You - Market Research: Qualitative, Quantitative and Everything In Between

Related Articles: