Current marketing research techniques are not sufficient to meet future research trends according to PMRG’s “State of the Industry Survey.” At its annual conference in Phoenix, the Pharmaceutical Market Research Group (PMRG) released findings from its first annual industry survey. The survey of pharma manufacturers and research suppliers revealed that both groups have little confidence that the research methods being used today will help solve the problems of tomorrow.
Other findings indicate that new methods will have to be more cost-efficient, easier to use and applicable in emerging markets. The survey showed that most respondents did not expect pharma spending to increase dramatically, but that they did anticipate an increase in global research spending, especially in emerging markets. Added to this is the finding that the dollar volume of research managed by the typical pharma market researcher has increased by 50 percent.
Implications are huge. First, new methods that are more efficient must be found. Online research will likely be one solution. Second, data mining and social media monitoring will become a bigger part of marketing research plans. Third, mobile research will have to be further developed to reach the emerging markets where few consumers are online but most have mobile phones. This will require further development of mobile platforms, such as 20/20 Research’s QualAnywhere mobile qualitative research platform, that do not require a smart phone.
In my experience, pharma has been slow to adopt online qualitative research and mobile research solutions. However, the sessions today indicate that they are beginning to look for new solutions that will better meet their needs. Online qualitative research will undoubtedly be a significant part of the solution.