Wonder

Research Outline

Prepared for Shelli | Delivered April 14, 2020

Market Research Strategies for Healthcare Companies

Goals

To gain insights into the market research strategies for healthcare companies.

Early Findings

Market research is a critical strategic investment in healthcare as it helps any company in the health industry to determine the demographics of their target audience. The data gathered are also essential to plan and implement the most effective strategy to be included in the campaign".
Some reasons why market research should be a priority for companies in the healthcare industry include; 
To stand out amidst competition and convergence. 
To gain valuable insights for products and service development 
To fill gaps in service delivery. 
To determine the suitable marketing mix.  
According to Bruno and Ridgeway, the best four market research strategies in healthcare include; 
Physician Satisfaction Research to establish better ways to communicate with physicians, discover new opportunities for their growth, and improve their work-life balance. 
Consumer Market Assessment (CMA)-which seeks to gain insights into consumers’ perceptions, ’ attitudes, and usage of an institution’s products and services. 
Employee Engagement Research to understand employees’ experiences, attitudes, and perceptions about the hospital. 
 Ad Testing to “determine the most effective ad concept prior to a campaign launch and test for advertising recall among consumers post-launch. ”
 Other research strategies in the healthcare industry include; 
Branding and positioning studies
Awareness and knowledge of product lines
Patient satisfaction research
Community image and awareness research
Advertising testing and effectiveness research
Needs assessment studies
Research regarding new products/services
Communications concept testing