The Client - Specialists in Global Marketing Strategies
Based in Connecticut, the client is a Hedge Fund Corporation that specializes in new product innovation, business model design, and marketplace launch leadership. Their main aim to this healthcare market research project is to convert business opportunities into commercial realities by addressing the go-to-market needs from product inception to retail execution. Assisting companies across multiple categories, the client has years of experience and has successfully taken many companies to new heights through guidance and successful implementation.
Requirements for the Healthcare Market Research Project
The client approached our team at Research Optimus (ROP) with a need for market research and the creation of a data analysis report within the medical industry of the USA.
In a generic sense, they had set their sights on the Wellness (Supplements, diagnostics, and App) industry and wanted to develop new consumer solutions to improve and benefit. They wanted to use a “Jobs to be Done” format to define market opportunities in this industry, but this came with a need to determine and understand competitive products currently being offered to the public. The specific details they needed included primary active ingredients, claims, and product forms; If available and for us to develop and provide an understanding of current sales. Research Optimus assigned the best research analysts to this task.
Challenges Faced by ROP’s
Market Research Analysts
In taking on this project, the challenges we faced were mostly due to the vast amounts of data we had to source. The industry is rife with advertising, official and informal data sources that need to be verified and categorized. Because the client needed accurate information, our team’s pace was somewhat reduced to create an accurate report.
We combated this problem by having numerous meetings with the client to better understand exactly which information they needed and in doing so were able to streamline our process and move forward more smoothly.
Process Outline of Our Information
Gathering and Analysis Process
Using years of experience in data analysis and utilizing the clients’ inputs, we were able to start the project immediately and created the reports needed. Our process was as follows:
- We started this project by outlining our report according to the guidelines that the client needed us to follow.
- Assigning our best researches to this task, they scoured sources of big data to find the needed information to complete the report as accurately as possible.
- We created a rough draft that included the most important information and structured it according to our needed outline.
- Once this was completed, we generated graphs and visual statistics to demonstrate which products were the most competitive in the industry and how the overall sales were affected by this.
- We included ingredient details for each product and the requested claims and product forms.
- Finally, we sent the analysis report to the client via a PDF transfer for final checking.
End Benefits for the Client and
the Research Optimus Team
In reaching the completion of this project, our team at Research Optimus was able to create an accurate and informative analysis report according to the client’s specifications. At the same time, we also saved the client time and money. We provided them with the needed insight into the targeted medical industry complete with graphs and current statistics to better aid them in their future decisions and plans to create beneficial customer solutions.
Due to our success, the client was highly satisfied and immediately requested for more projects to be handled by us, and so a prosperous business relationship has been created to the benefit of both parties.
PRICING & ENGAGEMENT
Flexible hourly pricing methodology for one-time research needs, and dedicated
ISO 9001:2008 standard quality assurance and defined quality polices to ensure data
Customer information and project confidentiality secured by Non-disclosure Agreements
Testimonials - What Clients Say
We achieved substantial cost and time savings on several difficult projects. The services provided by Research Optimus
was prompt attention to our requests and attention to details were excellent.
Even though most of our communication was done via email, it was extremely easy to work with Research Optimus.
Superbly quick turnaround time which was quicker than needed. They were there when I needed them!
After carefully reviewing the documents you provided, we are suitably impressed with the meticulous details and extracted data which is truly high-quality