The Life Science Product Manager's Toolkit

Product Manager Toolkit

gene2drug.com Life Science Industry Market
Research

Questions?

2 gene2drug.com Life Science Industry Market
Research

About BioInformatics LLC

 A full-service market research
firm since 1994:
• Consulting and strategy
development
• Expert interviews
• Focus groups
• Surveys
• RateMyProduct™

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 Conducting market research
exclusively on scientific
markets:
manufacturing & material science environmental testing • Lab products
clinical diagnostics
• Analytical instrumentation
• Biotechnology research
& bioprocessing
laboratory products chemical, food & beverage

• Drug discovery &
life sciences development
• Molecular diagnostics
pharmaceutical agriculture biotech

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Project team includes
scientists, statisticians and
business analysts.

Question 9*
Instant access to a 71,000
What are your MAJOR area(s) of interest with respect to your epigenetics research?
(check all that apply) member scientific online panel.
Respondents 200
Gene regulation 135
Disease mechanisms 115 Gene regulation 68%

Biomarkers 110
Disease mechanisms 57%
Basic biology of epigenetics 94
Therapeutic targets 46
Biomarkers 55%
Stem cells 41
Genomic imprinting 27
Basic biology of epigenetics 47%
Transgenerational epigenetic
inheritance 21
Therapeutic targets 23%
Tissue repair/regeneration 20
X chromosome inactivation 10

Conduct market research for all
Stem cells 20%

Genomic imprinting 14%

Transgenerational epigenetic

major suppliers in the industry.
10%
inheritance

Tissue repair/regeneration 10%

X chromosome inactivation 5%

0% 10% 20% 30% 40% 50% 60% 70% 80%

* Totals are based on number of times an item was selected.
* Percentages are based on number of respondents.

An Overview of Your Epigenetic Research
© 2009 BioInformatics, LLC www.gene2drug.com 3-17

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BioInformatics LLC Presenters

Bill Kelly
President

Robin Rothrock, Ph.D.
Director of Publications

Mary Follin
Marketing/Sales Manager

6
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Why Conduct Market Research in
New Product Development?
 The product must appeal to the customer
(however widely defined)

 Timely market research can help you mold the
product to the consumer’s need/wants

 Market research tends to point out successes and
failures before products are launched “for real”

 Being first to market pays dividends

 If you are going to fail — fail early

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Classifying New Products

 Improvements and revisions of existing products 26%
 Additions to existing product lines 26%

 New Product lines/functions/applications 20%

 Cost reductions 11%

 New-to-the-world products 10%

 Repositioning 7%

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Tell Us
How would you classify the new
product that is commanding MOST
of your attention right now?

A. Improvements and revisions of an existing product
B. An addition to the existing product line
C. Whole new product lines/functions/applications
D. Production cost reductions
E. New-to-the-world products
F. Repositioning

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Causes of New Product Failure

 Design failure
 High development cost/price
 Gaps in knowledge of market:
• Overestimated demand and size of market
• Positioning problem
• Ineffective communication/promotion
• Unexpected reaction from competitors
• Poor timing

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The Stage-Gate Process

Ideas Feasibility Development Launch
(Stage 1) (Stage 2) (Stage 3) (Stage 4)

GATE 1 GATE 2 GATE 3
Establish Commit Major Approval
Project Resources for Launch

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Use Market Data to Reduce Risk

High
Project Risk

Project
Knowledge

Low
Project Time

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Tell Us
Is your company using a
Stage-Gate new product
development process?

A. Yes
B. No
C. Not technically, but we are borrowing concepts from Stage-Gate
D. Not yet, but we are planning to make the switch

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Generate and Screen Ideas (Stage 1)

 Generate ideas for new product development

 Use VOC to ensure your customers are part
of the innovation process

 Select the best ideas using market data

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Use Data to Support Go/No Go Decisions

High
Project Risk

Project Knowledge
Project Cost

Low
Project Time
Stage 1
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Research Options in Stage 1
Refine New Ideas with Thought
Leader Interviews

In-Depth Interviews

Measure Receptivity to New Ideas
Among Potential Customers

Online Survey

Conduct VOC to Capture Customer
Input into Design Process

Customer Focus Group(s)

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Focus Groups
Chief, Molecular Diagnostic & Epidemiology
Columbia University Core Facility Manager M.D. Anderson
Medical Center Cancer Center
Academic Clinical

Moderator
Associate Scientist
Altana Research Institute
Pharma

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So if I have limited funds to dedicate
to the Stage 1 Screening of
Ideas, what would be a
recommended method of feeling
confident that a new idea is worth
pursuing?

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Live Focus Groups

1X 2X
~$5,000 ~$8,000
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Virtual Focus Groups
Chief, Molecular Diagnostic & Epidemiology
Columbia University Core Facility Manager M.D. Anderson
Medical Center Cancer Center
Academic Clinical

Moderator
Associate Scientist
Altana Research Institute
Pharma

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Parallel Activities Fuel Feasibility
(Stage 2)
R&D activities: doing experiments, scoping out
the IP landscape, assessing the
competition, setting specifications

Marketing/Product Management activities:
building the business case, estimate market
size, number of customers, pricing, competitive
environment, VOC

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Determine Product Feasibility

 Build business case: estimate market size, number of
potential customers, pricing, demand and revenue
estimates (this can be an iterative process)

 Understand product trade-offs, price implications and
implications on demand based on product features

 Use market data to refine your concept to ensure success

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Market Test New Product Concept
Online Survey

Determine “Must-have” and “Preferred” feature
sets of the new product concept.
Understand end-user barriers to adoption and
workflow bottlenecks.
Features and Benefits to Customers

Focus Group(s)

Estimate Demand and Revenue for Proposed Concept
Short Online Survey

Demand estimates can be generated very quickly and economically
to determine market feasibility before R&D investment.

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Obviously, the feasibility of a new
product is a critical stage where the
size of a potential market needs to be
determined.

So back again to the cost issue —
aren’t market size estimates one of
the most expensive types of market
research projects?

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Relative Number of End-Users
Number of researchers performing specific techniques in a given region
Real-Time PCR
(qPCR)

Western Blotting

Cell/Tissue Culture

DNA Microarrays

Transfection

Cell-Based Assays

Mass Spectrometry

NGS

High-Throughput
Screening (HTS)

Stem Cells

Bisulfite
Conversion

Number of researchers

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Conjoint Analysis

Product Product
Feature Feature
A B

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Tell Us
Have you ever used conjoint analysis
to determine the desirability of
specific product features?

A. Yes
B. No
C. Not sure

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Cross-Functional Teams Come
Together in Development (Stage 3)

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Activities that Occur in Development

 Confirm end-user receptivity

 Finalize product design: size, packaging and
performance-specifications

 Determine pricing

 Develop (tactical) marketing plans and prepare
for launch

 Validate the business case

 Transfer to operations: scale-up, production
and quality control
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Identify Beta-test Sites
Screening Survey and Follow-Up

Assess Pricing Strategy to Determine
Appropriate Price Positioning
Test Marketing Messages
Structured Questionnaire
End-User Market Survey
Utilize the van Westendorp pricing
Assess end-user receptivity to concept method and/or Juster Probability Scale
names, message, logos and advertisements. to understand pricing.

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Let’s say I want a “gut-check” on all of the above:
customer receptivity, pricing and marketing
effectiveness.

And let’s pretend I don’t have the budget to do it all.

In fact, at this point I don’t have the budget to do
ANY of it.

What are my options?

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RateMyProduct™

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$1,500
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Product Launch (Stage 4)

 Measure awareness
 Fine-tune pricing
 Calibrate sales strategy
 Assess customer satisfaction
 Monitor inventory

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Post-Launch Research Options

Determine Awareness of New Product
Introduction
End-User Market Survey

Assess end-user awareness to product
name, message, logos and advertisements.

Understand Customer Perceptions of Launched
Product, Assess Follow-on Features

Focus Group(s)

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What does a systematic program look like?

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Tracking and monitoring

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RateMyProduct

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Questions?

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Contact

Mary Follin
Marketing/Sales Manager
703.778.3080 x13
m.follin@gene2drug.com

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The Life Science Product Manager's Toolkit

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