Perception and Sentiment Analysis

Case Study How is a specific over-the-counter (OTC) drug perceived – and what are the opportunities for product extensions?
Challenge The manufacturer of a number- 2 position branded pain-management OTC drug wanted to prepare for a change in FDA guidelines. The impending changes  were expected to shift the overall market, and our client wanted to take preparatory, strategic action.
Engagement RESEARCH: LISTENING LOUDLY  -  We needed to have a deep and representative understanding of consumer sentiment.

  • We determined that the normal approach to market research to understand 3,000 consumers’ perceptions of an OTC brand would take 12 weeks – if done quickly. That would allow for both qualitative insight research and statistically significant predictive models.
  • We performed the research in a record three weeks, by tapping into social feedback. We particularly relied on  Twitter to monitor the conversations on specific brands.

ANALYTICS ENGINE

We identified drug brand sentiment, and how it compared with the other top player in the market. Sociometric analysis helped map perceptions of patients who had used the client’s product as their first choice. It also helped us assign relative weights to brand-recall metrics for the various sub-brands and how the users were applying these for a variety of pain- management efforts, from migraines to menstrual cramps etc.

STRATEGIC INSIGHT

Based on the research and sociometrics we were able to show where the strongest brand associations were made (by the pain condition/context) and the perceived by consumers. We identified specific approaches in marketing that had the potential to expand the market. We also found that the client’s brand was not perceived as broadly as the principal competitor and thus likely to be differently affected by impending changes in guidelines.
Tracking Results The engagement was initiated and completed within 3 weeks, delivering reliable insight within 1/3 of the cost and 1/4 of the allotted time. The method was adopted as the ongoing tracking study, to help monitor brand repositioning progress.

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