Navigation Links
Role of Market Research Evolving to Take on a More Strategic Responsibility
Date:1/21/2011

CHAPEL HILL, N.C., Jan. 21, 2011 /PRNewswire/ -- Leading organizations understand the value of using market research to inform their strategic planning and operational tactics across numerous functions. As pharmaceutical, biotechnology and medical device companies evolve, market research in these companies must also evolve and develop new capabilities while refining current ones to support intelligent planning and decision making.

"The Future of Market Research: Challenges and Changes in a Core Pharmaceutical Function" is a new Best Practices, LLC report that provides executives and managers working in the market research/business intelligence area with forward-looking insights around critical market research topics.

Among the issues addressed in this report are:

  • Market Research Roles & Responsibilities

Currently, New Product Development and Strategic Planning responsibilities are split between Market Research and other organizations. A strong refocusing on development and planning suggests Market Research's vital role in strategic decision support.

  • Use of Outside Resources

Most respondents suggest that spending on outside resources is likely to grow, in part because vendors will be expected to be able to function as full partners—delivering fully vetted recommendations, not just data—and to provide access to innovative methodologies and techniques.

  • Market Research Talent Selection & Development

In the next three to five years, applicant expectations and hiring criteria will change. Senior level market researchers will be strategic thinkers. Mid level market researchers will provide insights and add value to projects. Junior market researchers must have the potential and adaptability to move around and up.

  • Metrics & Performance

Respondents emphasize different aspects of what almost all agree on: Market Research has to be measured on the timeliness and impact on the business of actionable insights.  The quality of the work (based on feedback from stakeholders) is often the mechanism for measuring these attributes.

Data for this study were collected utilizing primary research via an online survey that drew 42 representatives from 35 companies in the pharmaceutical, biotechnology and medical device sectors. In addition, six interviews were conducted with selected participants. Participants included eight top 20 pharma companies.

To learn more about this report, download a complimentary report excerpt at http://www3.best-in-class.com/rr1039.htm. For related research, visit our Best Practices, LLC Web site at www.best-in-class.com/

ABOUT BEST PRACTICES, LLC

Best Practices, LLC serves 48 of the world's 50 top pharmaceutical companies.  For more than 17 years, we have conducted work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.  For more information about the company, go to www.best-in-class.com.


'/>"/>
SOURCE Best Practices, LLC
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Concentric Medical(R) Announces Co-Marketing Agreement With InTouch Health(R) to Advance Acute Ischemic Stroke Care
2. XTL Biopharmaceuticals Receives Notice of Non-Compliance with Nasdaq Marketplace Rule Due to Changes in Board Composition
3. BMP Sunstone Receives Production License from the SFDA to Manufacture and Market Pediatric Multivitamin Granules in the PRC
4. Huifeng Bio-Pharmaceutical (HFGB) to Attend CPhI South America 2008 Pharmaceutical Conference; The First CPhI Conference to be held in the Emerging Market of Brazil
5. Oncothyreon announces receipt of notice of non-compliance with market value of listed securities standard for listing on The NASDAQ Global Market
6. Sonus Pharmaceuticals and OncoGenex Technologies complete business combination; OncoGenex Pharmaceuticals to commence trading on NASDAQ Capital Market today
7. PAREXEL Data Indicate U.S. Marketing Applications for New Molecular Entities Bounce Back
8. Mymetics Corporation Information to be Available Through Standard & Poors Market Access Program
9. Frost & Sullivan Recognizes Kionixs Dominance in the MEMS Accelerometers Market Through Product Line Strategy
10. CV Therapeutics Reports Option Grants Under Nasdaq Marketplace Rule 4350
11. CoreValve Successfully Treats the First Pacific Rim Patients with Its ReValving System for Percutaneous Aortic Valve Replacement : Australia/New Zealand Regulatory-Cleared Evaluation Registry is Expected to Lead to Market Clearance for These Countries
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... While the ... such as the Cary 5000 and the 6000i models are higher end machines that ... the height of the spectrophotometer’s light beam from the bottom of the cuvette holder. ...
(Date:6/23/2016)... 2016 /PRNewswire/ - FACIT has announced the creation ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" or "the ... a portfolio of first-in-class WDR5 inhibitors for the ... WDR5 represent an exciting class of therapies, possessing ... for cancer patients. Substantial advances have been achieved ...
(Date:6/23/2016)... 2016  The Biodesign Challenge (BDC), a university competition ... harness living systems and biotechnology, announced its winning teams ... New York City . The ... projects at MoMA,s Celeste Bartos Theater during the daylong ... senior curator of architecture and design, and Suzanne ...
(Date:6/23/2016)... , June 23, 2016 Apellis Pharmaceuticals, ... 1 clinical trials of its complement C3 inhibitor, ... and multiple ascending dose studies designed to assess ... of subcutaneous injection in healthy adult volunteers. ... either as a single dose (ranging from 45 ...
Breaking Biology Technology:
(Date:6/21/2016)... , June 21, 2016 NuData Security announced ... new role of principal product architect and that ... director of customer development. Both will report directly ... officer. The moves reflect NuData,s strategic growth in ... to high customer demand and customer focus values. ...
(Date:6/9/2016)... , June 9, 2016 ... deploy Teleste,s video security solution to ensure the safety of ... during the major tournament Teleste, an ... systems and services, announced today that its video security solution ... to back up public safety across the country. The ...
(Date:6/2/2016)... , June 2, 2016 ... Manned Platforms, Unmanned Systems, Physical Infrastructure, Support & Other ... provider visiongain offers comprehensive analysis of the ... this market will generate revenues of $17.98 billion in ... acquired DVTEL Inc, a leader in software and hardware ...
Breaking Biology News(10 mins):