A Brief Introduction to
Market Research Consulting
at Quintiles
Boston University School of Public Health
November 12th, 2013
Copyright © 2012 Quintiles
Agenda
• Introductions and Backgrounds
• Quintiles Overview
> Consulting
> Market Research
• Typical Business Questions Asked
• Types of Research
> Qualitative
> Quantitative
• Data Collection and Presentation
• How to Get Into the Industry
• Types of Jobs and Practice Settings
• Final Thoughts / Questions
2
Erik: Education and Work Experience
• Brandeis University [1995-1999]
> Bachelor of Arts (BA) in Biology
• Boston University School of Public Health [2000-2003]
> Master of Public Health (MPH)
- Concentration in Epidemiology and Biostatistics
> Research Analyst
• MedPanel, Inc. [2003-2008]
> Sr. Director of Research Services
• Quintiles Market Intelligence [2009-Present]
> Associate Research Director
3
Nicole: Education and Work Experience
• Fairfield University [1999-2003]
> Bachelor of Science (BS) in Biology
> Cell biology lab research – antioxidant proteins / oxidative stress
• Boston University School of Medicine [2003-2005]
> Master of Pharmacology (MA)
- Cell and Molecular Biology Program
- Concentration in Neuroscience
> Thesis on molecular effects of MDMA (‘ecstasy’) on neurodegeneration
• Quintiles Market Intelligence [2005-Present]
> Associate Research Director
4
Quintiles Overview
Quintiles is the only fully integrated bio-pharmaceutical services company which allows us to offer
unique perspective, expertise and capabilities to our MR clients
Clinical
Consulting
Ph.1-3 Trials
Commercial Strategy
Late Stage (3b-4)
Market Intelligence
Commercial and
Brand Solutions
Outcome
Market Access
Medical Communications
Lab Services
Clinical & Regulatory
Health Management
Commercial
Portfolio Strategy
World’s Largest CRO
Leading Pharma Advisor
2,953
Studies
1,500
72%
of all new NME/BLA
products approved
2004-2007
Medical Doctors
and PhD’s
Exceptional
Industry Know-how
59
Top 10 Biopharma Sales Org.
100%
of 2011’s Top 50 bestselling products
Countries
8.4MM+
Patients
Deep Therapeutic
Expertise
Unparalleled
Capabilities
5,500
Commercial Sales
Representatives
110
products launched
Global
Resources
5
Claiming A New Space
The World’s Leading Healthcare Consultancy
Unlike specialized biopharma
consulting firms, Quintiles has a more
comprehensive knowledge of the
entire product lifecycle from portfolio
strategy to commercialization
Compared with the general business
strategy firms, Quintiles Consulting
has a more in-depth and practical
understanding of the biopharma
industry
6
Consulting Overview
Size
Market
Intelligence
> 250+ consultants globally
Market Access
& HEOR
Locations
> US (New York/Boston)
> EU (Amsterdam/London)
Culture
> Young, thriving and
entrepreneurial
Cambridge London
Amsterdam
New York
Frankfurt
San Francisco
Paris
DC
Barcelona
RTP
Levels
Singapore
> Analyst ->Consultant ->
Senior Consultant ->
Principal Consultant
I/II/III -> Director ->
Senior Director -> Vice
President
Regulatory &
Quality
Product
Development &
Commercialization
Delivering Local Knowledge with Global Breadth
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Quintiles Consulting
Portfolio
Management &
Transaction
Services
Clinical
Operations
Excellence
Change
Management
Market
Intelligence
Quintiles
Consulting
Market Access
&
Commercialization
Regulatory &
Quality
Compliance
IT Strategy &
Implementation
Medical Device
Development
8
Market Research?
• Formal Definition
> The systematic and objective identification, collection, analysis, and dissemination
of information for the purpose of assisting management in decision making related
to the identification and solution of problems and opportunities in marketing.[1]
• Functional Definition
> An orderly process of:
- Identifying a business question
- Designing a research program to collect and analyze the data necessary to
answer the question
- Reporting of conclusions and recommendations for action
[1] Malhotra, Naresha K. (2002), Basic Marketing Research: A Decision-Making Approach, Upper Saddle River, NJ: Prentice Hall,
ISBN 0-13-376856-2 9780133768565 0130090484 9780130090485
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Typical Types of Projects
• Market Assessment (what does the market look like today?)
> Market Landscape
> Unmet Needs in the Market
• New Product Opportunity (how well will a new product perform?)
> Product Development / Licensing Decisions
> Potential Demand for New Products
• Communications (how should we describe the features and benefits of the
new product?)
> Positioning
> Messaging
> Customer Segmentation
> Brand Element Testing
> Concept / Visual Aid Testing
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How is Data Collected and Analyzed?
• Qualitative Research
> Goal is to get an in-depth understanding of behavior and
understand how and why customers make the purchasing
decisions that they make
> Smaller sample sizes and results are not meant to be
projected to a broader population
Methods
Phone Interview
In-person Interview
> Phone, in-person, or focus groups
• Quantitative Research
> Goal is to collect numeric data that can be used to describe
how much a product is used — either currently or in a
future marketplace
> Larger sample sizes used to generalize results to a broader
population
Focus Group
Online Survey
> On-line surveys are by far the most common method of
data collection
- However, “pen and paper” surveys are still used sometimes due
to technology limitations
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How is Data Presented?
• PowerPoint Reports
> 50-100+ pages
> More dense than what is typically shown
in a presentation
> Interim, top line, final
• Simulators
> Complex excel models showing
preference share, forecasted sales, etc.
• Provenance
> Proprietary Quintiles data analysis
software
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Paths to Market Research
Very few market researchers have a formal college degree specifically in
market research
> However, graduate-level programs (Master’s and PhD degrees) in market research,
marketing analytics, or survey research are somewhat more common
Many market researchers have a background in:
> business administration (with a concentration in marketing)
> science (biology, chemistry, psychology, etc.)
> public health
> mathematics (especially statistics)
Regardless of background, key skills are:
> intellectual curiosity
> active listening
> attention to detail
> planning, organization, troubleshooting, and follow-through
13
Market Research Job Categories
Market researchers work on one of two “sides” of the industry:
> Client-side
- Typically work in the marketing
or market research department
within a company
- Support brand teams by
overseeing research needed
to inform brand strategy
decisions
> Vendor-side
- Typically work for market
research or consulting firms
- Work with clients to design
and execute research
projects to inform brand
strategy decisions
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Typical Career Path
• Most client and vendor organizations follow this general model:
VPs
• Provide practice leadership
• Develop new services
• Represent organization to
the broader industry
Directors
• Oversee large programs
• Develop client relationships
• Drive project sales
Managers
• Oversee whole projects
• Assist with new sales
• Begin to specialize skill set
Analysts
• Entry-level position
• Perform assigned tasks
• Learn about industry
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Different Jobs in the Industry
• The “vendor-side” of the market research industry contains many different
specialties:
Research
Operations
Translation
Services
Survey
Programming
MR
Consulting
Recruitment
and
Fieldwork
Research
Facility
Staff
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Final Thoughts:
My favorite part of my job is…
Erik
• Combines interest in survey
research, statistics, and medical /
public health issues
• Ability to work with several
different clients across a wide
variety of therapeutic areas
• Presents opportunities to
collaborate with, and learn from,
colleagues who have different
areas of expertise
• Provides opportunities for
domestic and international travel
Nicole
• Learning about a variety of clinical
categories – cardiovascular,
metabolism, oncology – from high
level to very detailed
• Research methods and problem
solving – start with business
question and use creative
approaches to get to answer
• Working with smart, motivated,
curious, hard-working colleagues
• Each project unique / different
challenges
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Questions?
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Opportunities
– Hand in resumes today or send to Alexandra Dombalagian, Recruiter, at
[email protected]
– Apply online
• www.quintiles.com/careers
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Resources for More Information
• American Marketing Association (www.marketingpower.com)
• Marketing Research Association (www.marketingresearch.org)
• Pharmaceutical Marketing Research Group (www.pmrg.org)
• Quirks Marketing Research Portal (www.quirks.com)
• Council of American Survey Research Organizations (www.casro.org)
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