Healthcare market research examined. Relevant, rigorous and highly regulated

Abstract

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Market research is invariably confused with marketing – but, in fact, the two disciplines are very different. Put in its simplest terms, marketing is about promotion whilst market research is about understanding. Accordingly, data collected for market research purposes are used in a completely different way to that gathered for marketing, with research practices heavily regulated to ensure high ethical standards.

Let’s begin with a definition of what, exactly, market research is. According to the ICC/ESOMAR International Code 2007 (a definition also adopted by the European Pharmaceutical Market Research Association), it is: «the systematic gathering and interpretation of information about individuals or organisations using the statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision-making. The identity of respondents will not be revealed to the user of the information without explicit consent and no sales approach will be made to them as a direct result of their having provided information».