Navigation Links
Creating an Effective Market Research Group to Generate High-Impact Business Results
Date:10/16/2007

CHAPEL HILL, N.C., Oct. 16 /PRNewswire/ -- As the pace of global competition quickens, organizations are turning to their market research groups to keep up. Effective market research departments build influence within their organization by using customers, markets and competitors as reference points to help leaders with critical decisions, according to research from benchmarking leader Best Practices, LLC.

Best-in-class market research groups are able to deliver forward-looking insights and recommendations, in part, because their leaders effectively manage workloads, according to the research. More than 60 percent of the firms participating in the study annually manage 20 or fewer projects per market research professional.

The report, "Developing the High-Performance Market Research Function," contains more than 400 metrics and 70 best practices gleaned from 85 companies across 20 industries. The report is available online with a complimentary excerpt at http://www3.best-in-class.com/rr866.htm

Market research managers and executives across all industries can use this report to compare their operations in terms of structure, project management productivity, investment per staff member and market research strategy. The findings are based on surveys and interviews with 90 market research professionals at 85 companies, including Bayer, AstraZeneca, FedEx, Hewlett- Packard, IBM, Eli Lilly, Wyeth and Xerox.

"This research links insights with action items," said Chris Bogan, chief executive officer at Best Practices, LLC. "Consider this: 70 percent of the companies in the study use a decentralized market research structure and yet often don't provide training for the skills that make cross-functional decentralized structures work."

Download the report excerpt online at http://www3.best-in-class.com/rr866.htm to view sample best practices and performance metrics.

The study shows how leading companies:

* Build influence for business decisions through market research -- This

starts with your staff. One market research leader hires experienced

business strategy consultants to instruct market researchers on how to

synthesize data and present findings in a format that has the most

impact for senior management decisions.

* Enhance market research processes -- High-performing market research

organizations develop processes and job descriptions to better

integrate marketing, CI and market research analysts together for

efficiency and better insights.

* Develop market research staff and culture -- More than 50 percent of

respondents reported providing 1-3 weeks of annual training to their

market research professionals.

To learn more about Best Practices' other research, visit: http://www3.best-in-class.com or contact Cameron Tew at 919-767-9246 or ctew@best-in-class.com.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a research and consulting firm that conducts work based on the 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, call (919) 403-0251 or visit http://www.best-in-class.com.


'/>"/>
SOURCE Best Practices, LLC
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Creating brain cells from bone marrow
2. Creating A Greater Awareness Among Smokers
3. Doctors take part in walk: a step towards creating diabetes awareness
4. Creating Awareness about Sports Medicine
5. Innovative Method for Creating a Human Cytomegalovirus Vaccine Outlined
6. Creating Memories During Sleep
7. Overuse Of Antibiotics-Creating Monsters Out Of Common Microbes
8. Indoor Smoking Bans Creating Unhealthy Outdoor Second-hand Smoke Zones
9. New Way to "See" Genes, Evaluate Effectiveness of Gene Therapies Discovered
10. Inhaled Steroids Safe & Effective for Children with Asthma
11. Morning after pill effective up to five days after having unprotected sex
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/2/2016)... ... 2016 , ... Dr. Philip Shindler, dentist in Agoura Hills , now ... past, many necessary dental treatments could require multiple appointments to complete. This could mean ... chair time. Not only could this be inconvenient, but it could also be overwhelmingly ...
(Date:5/2/2016)... Rhinebeck, NY (PRWEB) , ... May 02, 2016 , ... ... Valley, reopened for its 2016 guest season which runs through October. Omega is offering ... talks . , “There has never been such widespread interest in or ...
(Date:5/2/2016)... , ... May 02, 2016 , ... ... itself around major organs, such as the kidneys, liver and pancreas. If not ... M.D ., a board-certified physician in Internal Medicine, Medical Oncology and Palliative Care, ...
(Date:5/2/2016)... ... May 02, 2016 , ... Pregnancy Awareness Month offers a great time ... , “If you are ready to have a baby, it’s best to get ... Journal Babies is your Personal Conception & Pregnancy Organizer, written for women who plan ...
(Date:5/2/2016)... PARSIPPANY, N.J. (PRWEB) , ... May 02, 2016 ... ... - Healthcare Research & Analytics EVP and GM Jim Callandrillo and Duane ... during the 55th Annual Pharmaceutical Business Intelligence and Research Group (PBIRG) General ...
Breaking Medicine News(10 mins):
(Date:4/28/2016)... April 28, 2016 Oramed Pharmaceuticals Inc. ... pharmaceutical company focused on the development of oral drug delivery ... upcoming PIONEERS 2016 conference, presented by Joseph Gunnar ... New York . Nadav Kidron , ... conference. Presentation Details:   PIONEERS ...
(Date:4/27/2016)... Inc. (Nasdaq: HOLX ) announced today ... quarter ended March 26, 2016.  GAAP diluted earnings ... non-GAAP diluted EPS of $0.47 increased 14.6%.  Revenue ... basis, and 6.3% on a constant currency basis.  ... highlighted by 14.6% growth in non-GAAP EPS," said ...
(Date:4/27/2016)... York , April 27, 2016 ... report titled, "Skincare Devices Market - Global Industry Analysis, ... According to the report, the global skincare devices market ... is anticipated to expand at a CAGR of 10.1% ... in 2023. Browse the full Skincare Devices Market ...
Breaking Medicine Technology: