Copyright © 2012 Quintiles

A Brief Introduction to Market Research

Consulting at QuintilesBoston University School of Public

HealthNovember 12th, 2013

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Agenda• Introductions and Backgrounds

• Quintiles Overview

> Consulting> Market Research

• Typical Business Questions Asked

• Types of Research > Qualitative> Quantitative

• Data Collection and Presentation

• How to Get Into the Industry

• Types of Jobs and Practice Settings

• Final Thoughts / Questions

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Erik: Education and Work Experience

• Brandeis University [1995-1999]> Bachelor of Arts (BA) in Biology

• Boston University School of Public Health [2000-2003]> Master of Public Health (MPH)

- Concentration in Epidemiology and Biostatistics

> Research Analyst

• MedPanel, Inc. [2003-2008]> Sr. Director of Research Services

• Quintiles Market Intelligence [2009-Present]> Associate Research Director

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• Fairfield University [1999-2003]> Bachelor of Science (BS) in Biology > Cell biology lab research – antioxidant proteins / oxidative stress

• Boston University School of Medicine [2003-2005]> Master of Pharmacology (MA)

- Cell and Molecular Biology Program- Concentration in Neuroscience

> Thesis on molecular effects of MDMA (‘ecstasy’) on neurodegeneration

• Quintiles Market Intelligence [2005-Present]> Associate Research Director

Nicole: Education and Work Experience

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Exceptional Industry Know-how

Deep Therapeutic Expertise

Global Resources

Unparalleled Capabilities

World’s Largest CRO Top 10 Biopharma Sales Org.Leading Pharma Advisor

Quintiles OverviewQuintiles is the only fully integrated bio-pharmaceutical services company which allows us to offer unique perspective, expertise and capabilities to our MR clients

ClinicalPh.1-3 Trials

Late Stage (3b-4)Outcome

Lab Services

ConsultingCommercial Strategy

Market IntelligenceMarket Access

Clinical & RegulatoryPortfolio Strategy

CommercialCommercial and

Brand SolutionsMedical Communications

Health Management

100%of 2011’s Top 50 best-

selling products72%of all new NME/BLA products approved 2004-2007 110

products launched

5,500Commercial Sales Representatives

2,953Studies 59

Countries

8.4MM+Patients

1,500Medical Doctors and PhD’s

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Claiming A New Space

Unlike specialized biopharma consulting firms, Quintiles has a more comprehensive knowledge of the entire product lifecycle from portfolio strategy to commercialization

Compared with the general business strategy firms, Quintiles Consulting has a more in-depth and practical understanding of the biopharma industry

The World’s Leading Healthcare Consultancy

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Size>250+ consultants globally

Locations > US (New York/Boston)> EU

(Amsterdam/London)

Culture> Young, thriving and

entrepreneurial

Levels> Analyst ->Consultant -

> Senior Consultant -> Principal Consultant I/II/III -> Director -> Senior Director -> Vice President

LondonCambridge Amsterdam

D e l i v e r i n g L o c a l K n o w l e d g e w i t h G l o b a l B r e a d t h

M a r k e t A c c e s s & H E O R

M a r k e t I n t e l l i g e n c e

R e g u l a t o r y & Q u a l i t y

P r o d u c t D e v e l o p m e n t &

C o m m e r c i a l i z a t i o n

ParisFrankfurt

BarcelonaRTP

New York

DC

San Francisco

Singapore

Consulting Overview

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Quintiles Consulting

Quintiles Consulting

Portfolio Management &

Transaction Services

Clinical Operations Excellence

Regulatory & Quality

Compliance

IT Strategy & Implementatio

n

Medical Device Development

Market Access & Commercial-

ization

Market Intelligence

Change Management

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Market Research?

• Formal Definition> The systematic and objective identification, collection, analysis, and dissemination

of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing. [1]

• Functional Definition> An orderly process of:- Identifying a business question- Designing a research program to collect and analyze the data necessary to

answer the question- Reporting of conclusions and recommendations for action

[1] Malhotra, Naresha K. (2002), Basic Marketing Research: A Decision-Making Approach, Upper Saddle River, NJ: Prentice Hall, ISBN 0-13-376856-2 9780133768565 0130090484 9780130090485

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> Market Landscape> Unmet Needs in the Market

Typical Types of Projects

• Market Assessment (what does the market look like today?)

> Product Development / Licensing Decisions> Potential Demand for New Products

• New Product Opportunity (how well will a new product perform?)

> Positioning> Messaging> Customer Segmentation> Brand Element Testing> Concept / Visual Aid Testing

• Communications (how should we describe the features and benefits of the new product?)

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Methods

Phone Interview

In-person Interview

Focus Group

Online Survey

How is Data Collected and Analyzed?

• Qualitative Research> Goal is to get an in-depth understanding of behavior and

understand how and why customers make the purchasing decisions that they make

> Smaller sample sizes and results are not meant to be projected to a broader population

> Phone, in-person, or focus groups

• Quantitative Research> Goal is to collect numeric data that can be used to describe

how much a product is used — either currently or in a future marketplace

> Larger sample sizes used to generalize results to a broader population

> On-line surveys are by far the most common method of data collection- However, “pen and paper” surveys are still used sometimes due

to technology limitations

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How is Data Presented?

• PowerPoint Reports > 50-100+ pages> More dense than what is typically shown

in a presentation> Interim, top line, final

• Simulators> Complex excel models showing

preference share, forecasted sales, etc.

• Provenance> Proprietary Quintiles data analysis

software

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Paths to Market Research

Very few market researchers have a formal college degree specifically in market research

> However, graduate-level programs (Master’s and PhD degrees) in market research, marketing analytics, or survey research are somewhat more common

Regardless of background, key skills are:> intellectual curiosity> active listening> attention to detail> planning, organization, troubleshooting, and follow-through

Many market researchers have a background in:> business administration (with a concentration in marketing) > science (biology, chemistry, psychology, etc.)> public health> mathematics (especially statistics)

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Market Research Job Categories

>Client-side- Typically work in the marketing

or market research department within a company

- Support brand teams by overseeing research needed to inform brand strategy decisions

Market researchers work on one of two “sides” of the industry:

>Vendor-side- Typically work for market

research or consulting firms- Work with clients to design

and execute research projects to inform brand strategy decisions

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Typical Career Path

• Most client and vendor organizations follow this general model:

Directors

Managers

Analysts

• Entry-level position• Perform assigned tasks• Learn about industry

• Oversee whole projects• Assist with new sales• Begin to specialize skill set

• Oversee large programs• Develop client relationships• Drive project sales

• Provide practice leadership• Develop new services• Represent organization to the broader industry

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Different Jobs in the Industry

• The “vendor-side” of the market research industry contains many different specialties:

MR Consulting

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Final Thoughts:My favorite part of my job is…

Erik• Combines interest in survey

research, statistics, and medical / public health issues

• Ability to work with several different clients across a wide variety of therapeutic areas

• Presents opportunities to collaborate with, and learn from, colleagues who have different areas of expertise

• Provides opportunities for domestic and international travel

Nicole• Learning about a variety of clinical

categories – cardiovascular, metabolism, oncology – from high level to very detailed

• Research methods and problem solving – start with business question and use creative approaches to get to answer

• Working with smart, motivated, curious, hard-working colleagues

• Each project unique / different challenges

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Questions?

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– Hand in resumes today or send to Alexandra Dombalagian, Recruiter, at Alexandra.Dombalagian@quintiles.com

– Apply online• www.quintiles.com/careers

Opportunities

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Resources for More Information

• American Marketing Association (www.marketingpower.com)

• Marketing Research Association (www.marketingresearch.org)

• Pharmaceutical Marketing Research Group (www.pmrg.org)

• Quirks Marketing Research Portal (www.quirks.com)

• Council of American Survey Research Organizations (www.casro.org)