Market Research Reports
Ichelon’s market research capabilities include both primary and secondary research methods. They conduct in-depth interviews, focus groups, and surveys to gather primary data directly from customers, healthcare professionals, and other key stakeholders. They also gather and analyze secondary data from various sources such as industry reports, government publications, and online databases.
Ichelon’s research is also quantitative and qualitative in nature. They use statistical and analytical methods to analyze quantitative data, and use interpretive methods to analyze qualitative data. They also provide customized research solutions to meet the specific needs of their clients.
The company also specializes in competitive intelligence research which provides clients with information on their competitors, including market share, product offerings, and pricing strategies. This helps clients to understand their position in the market and make strategic decisions.
Process of Market Research for Healthcare Industry
1. Define the research problem and objectives
The first step in the market research process is to define the research problem and objectives. The problems could further be of multiple types :
Understanding patient needs and preferences
Identifying market trends
Assessing market potential
Evaluating the effectiveness of marketing campaigns
Understanding the competitive landscape
Identifying opportunities for cost savings
Measuring patient satisfaction
2. Develop a research plan
Once the research problem and objectives are defined, the next step is to develop a research plan. This includes determining the research design, sampling plan, data collection methods, and data analysis techniques.
3. Collect data
The third step is to collect data. This includes conducting surveys, interviews, focus groups, or other research methods to gather the information needed to answer the research questions.
4. Analyze data
The fourth step is to analyze the data collected. This includes reviewing and organizing the data, identifying patterns and trends, and interpreting the results. Couple of models that Ichelon uses Include :
SWOT analysis
PESTEL analysis
Porter’s Five Forces
Market Segmentation
Conjoint Analysis
Descriptive Analysis
The choice of model will depend on the research question, the type of data and the objective of the research.
5. Communicate the results
The final step is to communicate the results of the research. This includes presenting the findings in a clear and concise manner, making recommendations based on the findings, and sharing the results with stakeholders.
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