These are the classic mistakes with conjoint analysis when used in market and pricing research for pharmaceuticals:
Pharma product profiles are far more complex than, say, mobile phone profiles. Using the same type of conjoint (which is often done) can produce disastrous results.
Pharma respondents are much more expensive to recruit than, say, cola drinkers. As a result, pharma conjoint sample sizes are often way too small to deliver meaningful results.
Pharma market shares are driven by more than just product profiles. Market access, usage across lines of therapy, and many other factors, can be just as important. If these are ignored, conjoint predictions can be useless.
In this recorded webinar from 22 October 2024, pharma forecasting & pricing expert Gary Johnson shares his insights about highly effective solutions:
Simple alternatives to traditional conjoint methods that handle complex product profiles much more effectively.
Alternative approaches that require smaller sample sizes.
Leveraging the vast repository of over $50 million worth of published pharma conjoint studies.
Why (unfortunately) you cannot survey ChatGPT instead of doing conjoints (Harvard academics have tried!).
Submit your details to receive a link to the recorded webinar:
Please note that this webinar is only open to managers working in pharma/biotech/medtech companies. So, please enter your COMPANY EMAIL address.
Learn more from this expert at the following short duration course(s):
The Pharma Forecasting Course
With Gary Johnson & Sam Johnson
How to Price Better Than Your Competitors for Successful Market Access
Essential Insights, Principles & Techniques
With Gary Johnson & Sam Johnson