Spade Health’s Post

The trouble with market research is…what David Ogilvy famously said and it's illustrated by... ...this thing that happened... Once upon a time, in preparing for a product launch of a reagent for molecular biology assays, we conducted thorough interviews with researchers and lab managers through several voice of customer surveys. Questions were developed by various stakeholders inside the business, collaboratively, to ensure product, R&D, sales, marketing and regulatory concerns/viewpoints were addressed. Many scientists gave their time and contributed in interviews emphasising the importance of sensitivity and precision—telling us that’s what mattered the most. It all made complete sense. We crafted messaging to reflect our survey findings, we knew our product was sensitive and reduced time to result but when the reagent was rolled out, sales were slow. Why? One of the explanations…is that it turned out that while our would-be customers said precision mattered most, when it came to purchasing, price and ease of integration into their current workflows had a far bigger impact than people stated. This was a powerful reminder that what customers *say* in research doesn’t always reflect the full picture unless your questions attempt to anticipate the granularity. We then had to test each reagent property or benefit against the other to get closer to what matters on the ground. For #sciencemarketers it’s critical to balance insights from research with an understanding of real-world behaviours. To try to look beyond stated preferences to see what truly drives human decision-making. Humans, eh? What has been your biggest surprise in market research? Have you ever encountered a significant gap between stated preferences and actual behaviour? Image from "Talking to Humans" book. #Marketing #LifeSciences #ConsumerBehavior #MarketResearch #ProductLaunch #QincadeContent -------------------------------------- 📈 I post about science marketing, as part of Qincade's mission to help Life Science companies thrive. 🤲 If you want to join us on our journey, follow me, Jen Wells or Qincade 💙 Show this post some ❤️ ✨ , if you've found it useful🙏🏻

Turning insights into innovation. Market research is the starting point! Share your thoughts on the importance of market research in the comments below! ✨ #marketresearch #innovation #productdevelopment

It's been proven that life science organisations make poorly informed decisions, lack understanding of market trends and their audience needs and this leaves them lost in the greatly competitive life science business space. Without research, you are missing crucial data-driven information that can skyrocket your organization's success. Are you about to launch your life science startup or a new project with your organization? These 2 kinds of research are crucial 👇 ✅MARKET RESEARCH. 1. Primary Market Research: This is when in-depth research is conducted to collect data that do not exist. The research tools include surveys and questionnaires, in-depth interviews and focus groups. This helps your organisation gain specific insights that address your organisation's objectives like your audience's desires, pain points and unmet global needs that you should focus on. 2. Secondary Market Research: This involves collecting data that already exists by collecting data from life science market trends/ reports, competitor analysis, other research papers, etc. This gives you detailed information and a competitive advantage by positioning your organisation above market trends and performance. ✅DATA ANALYSIS. This involves processing and interpreting large data collected to deduce data-driven, meaningful and actionable plans for your organization. It requires employing various techniques to identify trends and patterns, correlate variables and relationships and understand customers' needs. Research offers you a whole lot of advantages by providing data-driven insights to guide decision-making and strategic planning for your life sciences organization. Contact us today via info@lifescience.ng and let's discuss how we can assist your organization succeed by getting data drive information your organisation can work with through research. #lifesciencenigeria #lifescience #research #researchforbusinesses #researchanddevelopment #contractresearchorganization #businessowners #founders

Unlock Strategic Insights for 2025! As we approach the end of Q4, it’s the perfect time to refine your strategic planning for the upcoming year. Are you looking for answers to your burning questions? Market Dynamics: Understand patient preferences, treatment outcomes, and emerging trends to adapt strategies accordingly. Competitive Analysis: Stay updated on competitors' strategies based on market research findings to maintain a competitive edge. Custom Inquiries: Get quick answers to any focused question, no matter what it is. Don’t miss this opportunity to get essential insights to guide your strategy. For more information, feel free to reach out at info@biovid.com. #StrategicPlanning #MarketInsights #HealthcareTrends #Q4Planning #CompetitiveAnalysis

Introduction to Market Research

Are you getting your insights from the same sources as everyone else? It’s common for companies to use the same market research platforms, trend reports and article sources. But most brands end up with the same tired and generic strategies because they use the same data points and information as competitors. I recently came across an article in Wired on how Tassos Stassopoulos, Founder Trinetra Investment Management LLP looks inside refrigerators in homes around the world to predict the future. While other investors use the same sources of information like S&P 500 reports, The Economist and the Financial Times for market intelligence. Thassos travels around the world exploring the fridges of families in India, China and Brazil. The main source of insight for him is the fridge! Companies are over-reliant on secondary research. Conducting primary and ethnographic research can bypass the “say-do-gap”. Most importantly, it can provide a competitive edge and a point of difference. When looking for opportunities and exploring the future – small data before the information hits the mainstream – is more valuable and advantageous. We cover stories like this in our weekly newsletter which you can sign up for below 💫 💖 💌 The full article is featured in the comments below 👇🏼

How to avoid “pop culture” science? As a molecular biologist I am almost bound to be obsessed with the gut microbiota-host interaction and its implication in almost every aspect of human health. In the last couple of decades this obsession seems to have reach the general public through social media, with plenty of podcasters, youtubers and so-called “life style influencers” predicating about the importance of "what you eat", since now "we know" that this can actually be traced to a very exciting and full of opportunities scientific research field, just to give an example. Although is very positive that scientific research is part of the day to day discussions, it can also be misinterpreted or miscommunicated. While the growth of the gut microbiota therapy market presents exciting opportunities, with the increased competition and commercialization there is a risk of hype outpacing scientific evidence. It has been estimated that the gut microbiota market will have a Compound Annual Growth of 22.5% between 2024 and 2032, reaching 3 600.1 million US$. One cannot avoid thinking about the risks, when somehow ironical combinations exist, like Nestle Science Health commercializing VOWST (fecal microbiota spores, live-brpk) capsules. What do you think?

Emphasizing on both #Objectives and #DecisionMaking, a researcher not only collects valuable data but also provides strategic #insights, enabling decision-makers to make informed decisions and achieve their goals efficiently.

The Role of Market Research in Product Development Market research is not only for understanding current customers, but it’s a powerful tool for developing new products that meet changing market needs. #ProductDevelopment #MarketResearch

Launching a new product in the life sciences space? A Product Landscape Assessment helps you navigate the competition, identify market gaps, and position your innovation for success. Learn why it's a critical step. #FacetLifeSciences #MarketResearch #ProductStrategy #BiotechInnovation https://hubs.la/Q02ZJGPk0