New Technologies Spur Innovation in Consumer Market Research Strategies for the Pharmaceutical Sector

CHAPEL HILL, N.C., June 6, 2014 /PRNewswire/ -- In today's information-rich world, consumers' desires, preferences, and unmet needs evolve and change rapidly. And with consumer habits and purchase decisions being driven by many factors, market research groups are continually searching for innovative consumer research and marketing communication tools.

New technologies and online platforms have dramatically increased the ability of consumers to educate themselves about products and companies. Likewise, these same technologies and online platforms have expanded the tools and techniques available to market researchers seeking insights into consumer behavior.

To help organizations better understand current and evolving innovative approaches for understanding consumer decision-making, research and consulting leader Best Practices, LLC recently conducted a wide-ranging study on new market research tools and technologies. The resulting research delivers evidence-based benchmarks on what consumer marketing communication and research approaches are proving most impactful for understanding and engaging consumers.

The new study, Innovation in the Pharma Industry: Market Research Tools, Technologies, and Approaches to Improve Consumer Interactions, presents data on two segments: pharmaceutical companies and the Total Benchmark Class.

The project addresses many critical consumer marketing issues, including new media for interacting with consumers, new qualitative techniques for insight mining and new quantitative techniques for research data analysis. The research includes narratives from market research leaders regarding the use of mobile research, social listening and gamification.

One of the many findings from the study: Mobile research, with its rapid delivery of point-of-care and point-of-sale data, will be an important tool for marketing research in the future. Seventy percent of the Pharma Segment is using mobile research either sometimes or frequently. 

Key chapters in the study include:

• Innovation in Marketing Research Approaches
• Innovation in Marketing Research Tools
• Using Innovation to Update the Use of Analysis Tools for Key Market Research Activities
• Marketing Research Trend Changes – Qualitative Trends
• Marketing Research Trend Changes – Quantitative Trends
• Emerging Market Research Tools in Pharma Sector
• Communicating with Consumers
• Trends in Consumer Communication
• Evaluating Direct-to-Consumer Marketing
• Lessons Learned and Pitfalls to Avoid
• Secondary Research on Future Trends in Market Research

Best Practices, LLC engaged 59 Market Research leaders at 58 companies - including 18 pharma companies - through a benchmarking survey instrument. In addition, research analysts conducted executive interviews with eight selected respondents to collect qualitative data and insights.

To learn more about this report, download a complimentary report excerpt at http://www3.best-in-class.com/rr1292.htm.

For more information on other recent primary research studies, contact us at 919.403.0251 or visit our website at http://www.best-in-class.com/.

ABOUT BEST PRACTICES, LLC
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.

SOURCE Best Practices, LLC