Market segmentation by drugmakers studied

North Carolina, USA-based pharmaceutical business intelligence leader Cutting Edge Information has published a new report, Pharmaceutical Market Segmentation: Spending, Strategy and Implementation, assessing drugmakers' market segmentation spending, structures, strategies, staffing and implementation practices. Compiled from interviews and surveys with marketing, market research and sales executives in the pharmaceutical and biotechnology industries, the report allows drug companies to improve their own market segmentation methodologies.

Physicians "remain the main target"

The study found that the average market segmentation budget of $597,222 was largely spent on segmenting physician audiences. "Physicians still remain the main target for pharmaceutical companies, therefore, it is of no surprise that the majority of companies' segmentation budgets focus on segmenting this important audience," said David Richardson, lead author of the report. "The data shows that physician segmentation normally gobbles up almost two-thirds of the average brand's market segmentation budget," he added.