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Market Research Leaders Exploring Innovative Tools & Technologies

CHAPEL HILL, N.C., Aug. 8, 2014 /PRNewswire/ -- New tools and technologies are changing the way in which consumers educate themselves and make critical purchasing decisions. Correspondingly, consumer market research analysis approaches are evolving to better identify winning tools and techniques.

One of the emerging areas that leaders are examining is the use of online communities, as they offer an open window into consumer attitudes. They also offer a rich source of insights around brand research, messaging, position and concept testing. Despite this, pharmaceutical and other industries are struggling with how to best use this tool.

The report, "Innovation in the Pharma Industry: Market Research Tools, Technologies, and Approaches to Improve Consumer Interactions," addresses topical issues that include: new media for interacting with consumers, new qualitative techniques for insight mining and new quantitative techniques for research data analysis.

Key study topics include:

  • Innovativeness of MR Tools for:
    • Forecasting
    • Patient Flow Mapping
    • Positioning 
    • Segmentation 
    • Brand Research 
    • Concept Testing 
    • Brand Awareness 
    • Customer Insights 
    • Direct-to-Consumer
    • Tactic Testing
    • Target Product Profile Testing
  • Utilization of Emerging MR Tools
  • Effectiveness of Consumer Marketing Tools
  • Best Practices, Pitfalls & Lessons Learned

This benchmarking research drew participation from 59 Market Research leaders at 58 companies through a benchmarking survey instrument. In addition, research analysts conducted deep-dive interviews with eight selected respondents to collect qualitative data and insights.

To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link:

For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at

Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the 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.

SOURCE Best Practices, LLC
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