The Importance of Secondary Market Research

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Secondary Market
Research
Presented by
The Rehabilitation
Engineering Research Center
on Technology Transfer
Secondary Market Research
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T2RERC
• Rehabilitation Engineering Research
Center on Technology Transfer
• Funded by the National Institute on
Disability and Rehabilitation Research
(NIDRR) -- US Department of Education
• grant number H133E980024
Secondary Market Research
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Secondary Research takes
advantage of the work
performed and published by
other researchers.
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Sources of Secondary
Research
• Internet
• Company catalogs
• Data base
• Product Literature
• Industry buyer
guides
• Trade show
exhibitions
• Industry/profession
al journals
• Retail outlets
• Conferences
(presentations)
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Secondary Research is less
expensive and saves time
when compared to performing
primary research activities.
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Get to Know the Customer
• Who will use the product?
• Who is involved in the purchase
process?
• Under what circumstance will the
product be used?
• Are there additional products that
are required to interact with the new
device?
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Populations & Markets
• U.S. Bureau of the Census
– www.census.gov
• Center for Disease Control &
Prevention
– www.cdc.gov
• American Demographics
– www.demographics.com
• Consumer Spending Trends
– www.consumerspendingtrends.org
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Once the primary customer is clearly
defined, identify others who may be
involved with the product.
and/or
Find new populations that may also
benefit by the product or service who
are not part of the primary market.
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Professional Association &
Other Useful Websites:
• American Occupational Therapy Association
– www.aota.org
• American Physical Therapy Association
– www.apta.org
• RESNA
– www.resna.org
• RERC on Technology Transfer (T2RERC)
– http://cosmos.ot.buffalo.edu
Secondary Market Research
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AT Industry Publications
• HomeCare Magazine
– www.homecaremag.com
• Home Health Care Dealer Provider
– www.hhcdealer.com
• Home Health Products
– www.hhponline.com
• New Mobility
– www.newmobility.com
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Visit the local home
medical equipment (HME)
dealer or attend trade
shows and conferences.
Secondary Market Research
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Industry & Government
Regulations
• Food and Drug Administration
– www.fda.gov
• Underwriters Laboratory
– www.ul.com
• Health Industry Manufacturers Association
– www.himanet.com
• Health Industry Distributors Association
– www.hida.org
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Payment Information
Resources
• Medicare and Medicaid are the industry leaders for
setting standards of pricing and coding of products in
the health care field.
– www.hcfa.gov
• Third Party payer companies such as Blue Cross &
Blue Shield, Independent Health etc.
– Check local listings for offices.
• United Communications Group provides business
consulting information, such as pricing policies.
– www.ucg.com
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Be honest with yourself.
False information to make a market
appear larger will only make the product
look as though it has failed when it reaches
the market.
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The answers may not
always be where first
expected!
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Be curious!
Think outside the Box!
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Secondary Research
and issues to consider . . .
• Bringing a product to market or
transferring technology/products to
the marketplace -- doing it on your
own.
– Know the consumer
– Know your competitor
– Identify distribution channels
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Useful Websites:
• AbleData
– www.abledata.com
• Health Care Finance Committee (HCFA)
– www.hcfa.gov
• National Center for the Dissemination of
Disability Research (NCDDR)
– www.ncddr.org
• National Institute on Health
– www.nih.gov
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• National Institute on Disability and
Rehabilitation Research (NIDRR)
– www.ed.gov/offices/OSERS/NIDRR/index.html
• Small Business Administration
– www.sba.gov
• U.S. Department of Commerce
– http://home.doc.gov
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Concluding remarks
Secondary research provides:
• Information gathered through the expertise
of others,
• Data that is less expensive than
performing primary research,
• Valuable information in relatively short
period of time, and
• A greater breadth of information than a
single source.
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T2RERC
Center for Assistive Technology
University at Buffalo
515 Kimball Tower
3435 Main St., Buffalo, NY 14214--3079
Telephone: (716) 829-3141
Fax: (716) 829-3217
Website: http://wings.buffalo.edu/ot/cat/
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