Other Lecture or Seminar

Applications of Statistics in Pharmaceutical Marketing Research

Daniel Lockhart, Ph.D.
Eli Lilly & Company

Start Date and Time: Mon, 3 Dec 2001, 4:30 PM

End Date and Time: Mon, 3 Dec 2001, 6:00 PM

Venue: LAEB B222

Abstract:

The goal of market research is to facilitate market oriented decisions. Market researchers collect information related to products and services. They then attempt to generalize to how those products and services may perform in the market. Market researchers also track markets to understand how a company's products and services are selling in comparison to the competition.

Market researchers at Lilly work in two primary areas: Country Affiliates and Global. The country affiliates assist with decisions oriented toward selling products available today in their specific countries. The global market researchers assist with the development of new chemical entities and facilitating communication across affiliates in disparate geographic environments

Market research uses three primary methods of collecting data. One method does not attempt to be statistically projectable and the other two may. The first is qualitative data. Qualitative data is not statistically projectable. Qualitative data is based on conversations with people. The second source of data is secondary sources. These sources may be statistically projectable if collected in a specific manner and of sufficient size. IMS data is one secondary source that attempts to be statistically projectable. The final major source of data is quantitative market research studies. These studies are generally surveys that attempt to project attitudes and behaviors that drive product sales.