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An increasing number of our MedTech clients are looking for faster, leaner market research programs, which don’t compromise methodological rigor. Research Partnership’s MedTech division have been successfully offering SIMALTO to address demand assessments, pricing and value proposition needs, well before agile became part of the common narrative.
We are now seeing a surge in interest in trade-off methodologies which can offer more visibility into customer decisions and greater flexibility in understanding those decisions, without the large-scale samples needed in conjoint designs.
SIMALTO (Simultaneous Multi-Attribute Level Trade-Off) is a robust, unambiguous choice-modeling tool, developed to overcome the limitations of traditional approaches to multi-attribute product market research – chiefly that the customer can select features in an unrestrained environment.
Why is this important? As economic decision-makers tighten the screws, clinicians are becoming increasingly budget-conscious. Now more than ever, they are tasked to articulate the perceived value as they advocate for new devices or systems. SIMALTO treats price as a constraint and recognizes that benefits often do cost different amounts. Because the design gives full exposure to all the attributes and features, the methodology allows for significantly smaller samples, a greater number of attributes and data is analyzed at the respondent level – there is no averaging of preference of values.
In this webcast our research experts, Sabera Hyderally and Kristin Lovallo, consider the practical benefits of SIMALTO and share a case study with a demo of a survey.
What are the key takeaways?
- Learn how to overcome the limitations of traditional approaches to multi-attribute product market research
- Identify how to conduct trade-off research, which mimics real-life decision-making behaviour
- Understand how to identify the minimum customer requirements in a new product or service