The Industry: Biotech

Health & Wellness Provider

Our Client
Biotech Company

Industry
Biotech

Our Tools
Online IDIs, Attitudes & Usage, Custom Idea Workshop, Concept Screening & Optimization

The Challenge:

A biotech company is at a critical point in its evolution and is seeking to place an emphasis on marketing efforts going forward. To ensure that its marketing efforts have maximum impact, it seeks to:

  • Size and profile potential consumer markets
  • Identify and quantify consumer needs for each potential market
  • Understand the brand’s strengths and weaknesses relative to the competition
  • Identify the importance of product/service attributes and benefits
  • Understand consumer shopping behavior and channel perceptions as it relates to product purchasing

Our Customized Approach:

Online Text-Based IDIs – To understand consumer perceptions, attitudes and needs

Quant. AA&U (with omnibus incidence check) – To identify & quantify target consumers’ needs, brand perceptions and distribution channels

Idea Workshop (client-led) – To identify potential new product / service ideas based on target market understanding

Concept Screening & Optimization – To begin assessing new product / service ideas

Key Insights

Two identified target markets demonstrate the most potential in terms of overall volume & frequency of use. These two segments share many of the same key needs, namely accuracy and privacy, with some minor differences.

Though not the deciding benefit every time, accuracy is the product’s most critical benefit regardless of target segment. Client Company can communicate accuracy benefit in a more compelling way to differentiate from its competitive set.

Privacy is a huge product benefit in this space, but competitive products own this benefit over the Client Company due to superior packaging and ability to read results at home.

The internet plays a tremendous role in the Client Company’s key products exploration and education (due to the importance of privacy).

The Results

  1. Client Company to re-vamp their current website to make recommended accuracy and privacy adjustments, as well as add relevant content.
  2. Client Company to explore additional packaging changes to improve accuracy and privacy claims on-pack.
  3. Client Company exploring avenues to improve their online prescience.

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