Concept testing is a research methodology that involves asking customers questions about a company’s concepts and ideas for a product or service, which allows the company to gauge customer acceptance, price sensitivity and willingness to buy prior to launching the offering in the market. Concept testing provides companies with in-depth insights about preferences for specific features and capabilities, as well as direction on pricing and market positioning.
What is U&A research-
U&A research is a methodology that helps a company to measure buying patterns, product preferences and unmet customer needs in order to determine which product to offer, which market or segment to target, and which channels will be most successful. The primary objective of a U&A research study is to identify white spaces in the market and market gaps that could potentially be served by a new or existing product or service.
U&A studies generally have market-wide coverage and normally provide a large number of customer and market insights, such as frequency of purchase, frequency of use, attitude towards product/service/brand/ technology, and strengths and weaknesses of offerings.
When to use/conduct U&A research –
U&A research is usually conducted when a company has knowledge gaps in areas including the market opportunity, brand perception, product opportunity, customer or market attitudes, behavior, needs and segments.
Why to conduct U&A research-
How is U&A research done- U&A studies are typically done using customized qualitative and quantitative approaches on an ad-hoc basis.
What is Patient Journey?
Patient journey represents the entire sequence of events that a patient experiences within a given healthcare system or across providers, from scheduling an appointment for a regular check-up to receiving treatment for an illness or injury. .It identifies patients’ most significant issues with physicians, medications and care takers.
Patient journey research encompasses patient flow (how patients move through the process, from symptoms to treatment decisions) and patient experience (how patients are influenced and what they need throughout the process).
Cetas Healthcare’s syndicated research provides a deep dive analysis in the patient journey based on a 5Ps Model:
All of this information together provides companies with a clear understanding of a patient’s Care continuum.
How is it performed? – Patient Journey research is typically conducted using qualitative research methodologies, such as in-depth interviews to explore the Hows, whats and Whys of patient treatment pathways. Information is captured from multiple respondent types involved in the patient journey, such as physicians, nurses, pharmacists, and the patients themselves.
Why is it performed?
Patient journey research is used by companies to support all phases of the product life-cycle. It provides companies with insights into patient experiences during diagnosis and treatment in a healthcare facility..
What is BHT research- Brand health tracking is a research program focused on the ongoing measurement of a company’s branding metrics, such as brand awareness and perception, saliency and purchase consideration, in order to determine brand health and identify opportunities to maximize the success of marketing campaigns and increase sales and market share.
When to use/conduct BHT research
Companies typically conduct BHT research when they are focused on managing and improving their brand performance in their market, measuring the impact and return of branding initiatives, and gauging branding and marketing campaign effectiveness.
Why to conduct BHT research-
How is BHT research done
BHT research can be conducted using multiple techniques, including social listening, focus groups, qualitative interviews and quantitative surveys.
These studies are typically run on an ongoing basis, either annually or multiple times throughout the year based upon the dynamics of the customer’s market.
This model results in a demand curve for the product that shows the percentage of respondents interested in buying at each price point, allowing a company to estimate willingness to pay for the product, as well as revenue-optimizing price points ,.
What is ad testing research?
Ad testing research is an evaluation of an advertisement before it is launched to answer one question: “How do we make this advertisement more effective to our customers?” It is done by displaying a series of advertisements (that can be in the form of an infographic, video, website, etc.) to the target customers and asking for their feedback on each.
These tests can be performed on the entire advertisement or certain sections, and feedback is gathered on anything ranging from the uniqueness of the ad to its credibility amongst the target audience.
When to use ad testing research?
Ad testing research is typically conducted before the launch of an advertising campaign to predict its effectiveness. It helps companies understand how customers will respond to an advertisement and the changes required to better align with target customers.
Why use ad testing research?
Ad testing allows companies. to ensure that their advertisements tap into customers’ interests, and minimize any intrusion by measuring the advertisement impact and evaluating improvements that will make the ad more effective
How is Ad testing research done?
A standardized process for Ad testing is based and identified based on the elements to be tested, such as headline, imagery, and format. Typical methods utilized to perform Ad testing are:
What is market sizing and forecasting?
Market sizing is necessary for a company to understand their target market size and market share.. Forecasting involves estimating market growth based on various macro and market dynamics in order to estimate market size and share for the next 3 or 5 years
Market Sizing involves estimating:
Market Sizing and Forecasting is done to accurately estimate the size of the market,the obtainable market share, and the level of investment required, and also helps companies to allocate budgets appropriately, and informs strategic planning for the upcoming financial year.
How is Market Sizing and Forecasting performed?
Market Sizing and Forecasting is performed by building robust market models, taking into account various macro and market-related factorsThere are two approaches to building market sizing models: