For market validation research, three common research methods are surveys, interviews, and focus groups. For more information on these, and other research methods, see: Chapter 2 of The Handbook for Market Research for Life Sciences Companies.
|Surveys||Participants are asked to respond to a pre-defined series of questions. Can include both open- and closed-ended questions. Can yield a mix of quantitative and qualitative feedback, depending on how the survey is designed. Can be conducted in-person, by telephone or mail, or online.||
|Interviews||One-on-one conversation between the researcher and the participant. Usually involve open-ended questions. Yields mostly qualitative responses. Can be conducted in-person or virtually. Option for audio/video recording of responses.||
|Focus Groups||Discussion of a topic amongst a small group of participants. The researcher facilitates the groups’ discussion by asking questions and observing responses. Yields mostly qualitative responses. Can be conducted in-person or virtually. Option for audio/video recording of responses.||
A sample is a portion of the larger population that you are researching. There is not one, “standard” sample size that applies to all primary research projects. A sample size that is too large may present issues regarding time and money, while a sample size that is too small may invalidate your results. Consider the size of your market and use your best judgment when determining your sample size.
For more information, see: Chapter 1 of The Handbook for Market Research for Life Sciences Companies.
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