Quantitative
Most quantitative projects at IDR Medical are executed over the web. We also conduct telephone interviews when deemed appropriate.
IDR Medical work with dedicated, global panels and communities of surgeons, hospital physicians and other healthcare professionals to provide reliable and responsive web research services as input to our projects. The below list indicates the analytical approaches we use day to day.
Analytical Methodologies: Supporting Product Design & Positioning
Conjoint Analysis (ACA, CBC, A-CBC & MBC)
- A research technique used to assess the different weights individuals place on the variables presented to them in a given purchase situation.
- This involves showing respondents product profiles and asking them to indicate (in a variety of ways) how much they like or prefer these alternative product profiles.
- Statistics are used to calculate the contribution that each product attribute is making to the overall perceived value which allows us to calculate scenarios and price sensitivities.
Max Diff
Maximum Difference Analysis (Max-Diff) will be used to prioritize the importance of the 30 requirements. Respondents will evaluate multiple sets of four to six attributes. For each set, the respondent indicates both the most important item and also the least important item. Responses are analyzed using Hierarchical Bayesian techniques to derive attribute importance scores at the individual respondent level. Using Max-Diff leads to clearer differentiation among items and eliminates straight-lining and scale usage effects that can complicate rating scale analysis.
KANO
Must-be, one-dimensional and attractive requirements as well as product requirements towards which the customer is indifferent can be classified by means of a questionnaire.
Analytical Methodologies: Supporting Pricing Strategy
Conjoint Analysis
IDR Medical utilizes CBC, A-CBC and MBC (Menu Based) methodologies where appropriate to test the price sensitivity of a surgical marketplace in response to a new product. A key output of a choice based conjoint project is a market simulation tool that can predict preference share across relevant market scenarios.
Gabor Granger
Potential customers are asked if they would purchase a medical product at a particular price point. If they agree; the price is increased incrementally and respondents are asked the same question. This process continues until the respondent says that he / she is not willing to buy the product at the given price point. A maximum price is then recorded for each respondent.
Using this estimate of demand, the price elasticity (or expected revenue) can be calculated and so the optimum price-point in the market established.
Van Westerndorp
This technique uses four questions about a product or service and requires the respondent to rate each price on a scale from too cheap to too expensive. Analysis of the data yields several distributions. Various intersections on the curves yield inputs for pricing decisions. This analysis approach is particularly suitable for projects where we are comparing price points across multiple products or a portfolio of products.
Monadic Designs
Split sample into groups (arms or cells). Each arm is asked a single response question with a specific price in each cell.
By focusing the respondent’s attention upon one product, the monadic test provides an accurate and actionable representation of price sensitivity.
Analytical Methodologies: Supporting Segmentation Studies
CHAID
CHAID (Chi Squared Automatic Interaction Detection) is used to build a predictive model, based on a classification system that segments groups of respondents that share similar specific response variables.
