Navigation Links
Creating an Effective Market Research Group to Generate High-Impact Business Results
Date:12/6/2007

CHAPEL HILL, N.C., Dec. 6 /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 AstraZeneca, Bayer, Eli Lilly, FedEx, Hewlett-Packard, IBM, 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://www.best-in-class.com or contact Robert Naylor at 919-767-9244 or rnaylor@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. Texas Aviation Services: Over 20 Years of Creating Flying Emergency Rooms for Airborne EMS Customers in US and Latin America
2. New Herbal Water Creating Taste Sensation: Ayalas Herbal Water Has No Calories, No Preservatives and No Artificial Additives. Just All the Natural Benefits of Herbs!
3. Blue Cross and Blue Shield Association Nationally Recognized by BusinessWeek and AARP for Creating a Unique Workplace Environment for New and Mature Employees
4. Creating Effective Cross-Functional Teams for Pharmaceutical Commercialization Success
5. Hormone May Play Key Part in Creating Memories
6. CareTech Solutions Executive to Conduct Presentation on Creating a Healthy Revenue Cycle at AHIMA Convention and Exhibit
7. Creating an Effective Market Research Group to Generate High-Impact Business Results
8. New treatment effective in counteracting cocaine-induced symptoms
9. Use of certain lipid measures not more effective in predicting coronary heart disease
10. HPV vaccine does not appear to be effective for treating pre-existing HPV infection
11. Effectiveness of mouse breeds that mimic Alzheimers disease symptoms questioned
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/3/2016)... ... May 03, 2016 , ... ... – a web application that helps people assess their risk of developing Alzheimer’s ... app will provide users a “Risk Reduction Score™” that summarizes how their lifestyle ...
(Date:5/3/2016)... Baltimore, Md. (PRWEB) , ... May 03, 2016 , ... ... devastating consequences of inappropriate or excessive levels of alcohol use. Alcohol and its ... fetal alcohol spectrum disorders to the susceptibility to strokes in those 65 years and ...
(Date:5/3/2016)... ... May 03, 2016 , ... SELEX (systematic evolution of ... a random library of sequences depending on their attraction for a target molecule. ... selection is commonly performed using filters, panning, or affinity chromatography separations. However, these ...
(Date:5/3/2016)... Chicago (PRWEB) , ... May 03, 2016 , ... ... has hired award-winning creative director Joe Ferrazano to serve in the newly created ... Ferrazano will be overseeing the agency’s creative efforts in the Chicago and LA ...
(Date:5/3/2016)... (PRWEB) , ... May 03, 2016 , ... Elizabeth Murray ... pet parrots to join her with one on her shoulder and one on her ... a parking lot because of years of mitral valve prolapse. , The valves of ...
Breaking Medicine News(10 mins):
(Date:5/2/2016)... , May 2, 2016  While nearly three-quarters of ... can have on their health, only about half report ... to the results of a new survey announced today ... the start of National Osteoporosis Month, Hologic is raising ... affects nearly 56 million Americans. Osteoporosis is ...
(Date:4/29/2016)... April 29, 2016 ReportsnReports.com ... 2016" market research report that provides an overview ... analysis at various stages, therapeutics assessment by drug ... (RoA) and molecule type, along with latest updates, ... reviews key players involved in the therapeutic development ...
(Date:4/29/2016)... , April 29, 2016 ... life science laboratory due to the growing demands for ... advance technology, contemporary automated systems are already adept of ... by slow, tedious and manual labor. Instrumentation continues to ... not even conceivable just a few years ago. Originally ...
Breaking Medicine Technology: