Response: Certainly, Abhi. In the life sciences sector, market research is crucial due to the highly regulated environment and the need for precise solutions that address specific industry challenges. My approach to market research typically involves a combination of quantitative and qualitative methods.

Firstly, I start by identifying key stakeholders, including healthcare professionals, regulatory bodies, and end-users, to understand their needs and pain points. I then conduct surveys, interviews, and focus groups to gather qualitative insights. This helps in understanding the user experience, unmet needs, and potential areas for innovation.

On the quantitative side, I analyze industry reports, market trends, and competitor products to identify gaps and opportunities in the market. I also use data analytics tools to assess customer behavior, preferences, and feedback from existing products.

Once the data is collected, I ensure that it is actionable by mapping it against our product strategy. This involves prioritizing features and functionalities that align with market needs and regulatory requirements. The insights gained from this research are then used to inform product development, ensuring that the final product is not only compliant but also highly relevant and valuable to the target audience in the life sciences sector.