NEW YORK, Sept. 18, 2007 (PRIME NEWSWIRE) -- Ziment, a leading global marketing research company, announces the worldwide launch of "Benchmark Discrete Choice," a groundbreaking solution that gives brand teams unprecedented flexibility and optimal accuracy in determining the market potential of compounds in early- and late-stage development. Ziment's novel approach overcomes the long-standing industry dilemma of quantitatively measuring large numbers of a compound's potential attributes to determine top-tier and secondary product attributes and the importance of each one, set clinical trial endpoints, and provide preference share.
"Today, pharma companies compete in an increasingly pressure-packed pharmaceutical environment, which drives a substantial need for better, earlier, more flexible insight into the market potential of compounds in development," said John Tapper, PhD, Chief Operating Officer of Ziment Custom. "Benchmark Discrete Choice is a significant advance in early-stage forecasting. Now brand teams have access to a dynamic model that quantitatively measures a large number of potential product attributes, determining market information at the earliest stage with great flexibility. The results enable them to make more accurate decisions and maximize the commercial value of a compound early on."
Benchmark Discrete Choice was presented at the 46th Annual European Pharmaceutical Marketing Association conference on June 22, 2007 in Malta.
Unlike traditional market research tools, which can only reliably measure eight to ten attributes quantitatively, Ziment's Benchmark Discrete Choice can quantitatively test up to 50 potential attributes and 200 levels of each attribute's importance, as well as measure preference share, to determine what drives physicians' prescribing decisions. Traditional methods for measuring many attributes typically begin with qualitative research to reduce the number of attributes and then measure them quantitatively. They also require design compromises. Full-profile techniques are limited by cognitive overload (a doctor can only absorb a limited number of choices a limited number of times), and a newer technique, partial profile, is limited by its inability to tie share to output.
"Benchmark Discrete Choice is the first technique that makes it possible to combine both accuracy and flexibility into a single model," said Venk Ramakrishnan, Chief Methodologist at Ziment Custom. "This tool can provide tremendous value to our clients and impact business decisions previously unreachable with marketing research."
Benchmark Discrete Choice is particularly advantageous for marketers who have many questions about their compound or competitors' compounds. It answers the most common, as well as complex, prelaunch marketing questions: Which attributes will drive market share? How important is each attribute that will drive share? Two of my competitors are launching products -- How much of a competitive threat will they be?
Ziment's new capability has been adopted by leading pharmaceutical companies, who have used it to solve complex pre-launch challenges. Brand teams closer to launch also benefit, obtaining a deeper understanding of what drives physicians' prescribing decisions.
About Ziment Custom
Ziment Custom is the strategic primary marketing research division of Ziment Group, providing customized intelligence and solutions to the healthcare and pharmaceutical industries worldwide. As a strategic partner, Ziment Custom offers a full range of qualitative and quantitative marketing research approaches, as well as business solutions and consultation, that help marketers reach business objectives, from Compound to Profit. For more, visit www.ziment.com.
About Ziment Group
Ziment Group is a leading global marketing research group of companies serving the healthcare, pharmaceutical and biotechnology industries for more than 30 years. Ziment Group is the global healthcare research brand for The Kantar Group, the Information and Consultancy Division of WPP, plc. The group consists of Ziment Custom, the strategic primary marketing research division; AllGlobal/WebSurveyResearch, syndicated marketing research services using the largest dedicated panel of physicians; imap Research, syndicated market tracking research; and Consumer Health Sciences (CHS), which conducts the National Health and Wellness Survey (nhwsurvey.com), the leading annual disease-specific consumer survey for patient information. For more information, visit www.zimentgroup.com.
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