MARKET RESEARCH

PBM conducts extensive primary and secondary market research to determine whether there is a demand for medical companies' products and services in Asia. Our research scope may include assessment of market attractiveness (e.g. size, pricing, regulatory issues, etc.), competitor analysis, or other issues -- we will tailor our research to your company’s specific needs.

Primary Market Research. Several years ago PBM completed a market research study for a major U.S. multinational firm regarding the market potential for their pharmaceutical (Rx and OTC) products in China. To understand the market, PBM first set up an ad-hoc advisory group composed of a number of reputable Chinese physicians. After several consultations with the group, PBM determined that it should conduct its market survey via a three-pronged approach. First, PBM collected and analyzed all available information and data to understand the macro-environment and products already on the market (secondary research). Next, PBM surveyed the opinions of over 600 Chinese doctors in several sample cities (Shanghai, Beijing, Guangzhou, Zhengzhou, Chengdu, Yantai, and Yichang) through targeted questionnaires. Finally, PBM held focus group discussions with consumers in each city to understand the needs and desires of potential "end users."

To survey doctors, PBM prepared targeted Chinese-language questionnaires and translated and analyzed the results for our client. Likewise, we kept a detailed transcript of focus group discussions and translated and analyzed these results as well. Staff members responsible for the surveys and focus groups were trained extensively in a three-day session in order to assure quality results from our efforts. In our final report to our client, we included copies of all original primary research, including doctor’s names and contact information so that the client could spot check the data (if it wanted to) and keep the raw data for its records.

The above is an example of just one of PBM’s many market research projects. Interested in determining the potential market for your product in Asia? Contact us to learn more about how we can help you!

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