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Pharmaceutical Industry Turning to Emerging Market Research Tools to Better Understand Consumer Decision-Making
Date:11/8/2013

CHAPEL HILL, N.C., Nov. 8, 2013 /PRNewswire/ -- Rapid advances in technology have given consumers an array of tools for informing their purchasing decisions. Correspondingly, most industry sectors are turning to emerging market research tools – which also rely on new technologies - to better understand consumer decision-making.

In the healthcare sector – pharmaceuticals in particular – this shifting information-gathering landscape is pushing organizations to adjust their approach to consumer market research. Consequently, pharmaceutical companies are building up their comfort level with emerging tools like mobile research, Web-use tracking, social media listening and online patient communities, according to new research from Best Practices, LLC.

"Innovation in the Pharma Industry: Market Research Tools, Technologies and Approaches to Improve Consumer Interactions" is a 126-page report that highlights innovative approaches in the use of qualitative and quantitative tools for market research targeting consumers/patients. The study presents data on two segments: pharmaceutical companies and the total benchmark class.

The only emerging market research tools that the pharma segment said it was "using frequently" were mobile research and Web-use tracking, according to the study. Twenty percent of the pharma participants said they were using those tools frequently. At least half of the pharma segment is "sometimes using" mobile research, Web-use tracking, social media listening, and online communities. The pharma segment said it is not using gamification or geotracking.

Key chapters in the study include:

  • Innovation in Marketing Research Approaches
  • Innovation
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SOURCE Best Practices, LLC
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