Large Quantitative Surveys

Objective: Snowfish was asked by an innovative biomedical company to conduct a survey-based analysis for a potential new arthritis product for the North American market.

Methodology: We started by developing a questionnaire with the client team’s involvement. The questionnaire comprised of 30 questions within sections on demographics, medical coverage, arthritis treatment, the new product and distribution methods. We then invited 5,000 orthopedic surgeons to complete the on-line survey, aiming for a confidence level of 90% (+/- 10%). The survey took only 3 days of the anticipated 1 week to achieve 100 successfully completed questionnaires. We used proprietary analytic and statistical software to compile the results.

Results: Overall the survey showed, with a high degree of confidence, that there was a significant market for the product in North America, with over 60% of orthopedic surgeons willing to try the product. We were able to forecast the market potential for the product in annual sales for different possible prices. We were also able to find targetable physician groups who would be more likely to try and sample the new product. In addition, we found different marketable applications for the product.