Pharmaceutical Market Research: A Strategic Business Partner in 2011

Jun 17, 2010, 16:10 ET from Best Practices, LLC

CHAPEL HILL, N.C., June 17 /PRNewswire/ -- The balance of opportunities and activities in pharmaceutical market research is shifting overall toward a more strategic positioning, putting a premium on innovation and partnership.

"The only way you can be seen as a strategic partner is if you provide interpretation and application of findings," explains a market research executive. "If you just provide the findings, what have you really added as value?"

Ensuring that recommendations are actionable and engaging with key stakeholders are critical practices for adding value, according to "The Future of Market Research: Challenges and Changes in a Core Pharmaceutical Function," conducted for a partner of Best Practices, LLC.

Download a complimentary white paper at http://www3.best-in-class.com/rr1007.htm that includes selected best practices drawn from extensive primary research with executives from 35 leading biopharmaceutical companies including, GlaxoSmithKline, Merck, Abbott, Pfizer and Bausch & Lomb.

Key topics of this primary research include:

  • Market Research Roles & Responsibilities
  • Use of Outside Resources
  • Market Research Talent Selection & Development
  • Metrics & Performance
  • Practice Insights

The full 46-page report contains more than 120 benchmark metrics and 30 best practices, providing pharmaceutical market research executives a roadmap for defining how the market research function can continue to provide value through staffing, vendors, development, metrics and practices in the next three to five years.

For more information on this study or other recent primary research studies, contact us at 919.403.0251 or at bestpractices@best-in-class.com.

BEST PRACTICES, LLC, conducts 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. Best Practices, LLC has been a leader in pharmaceutical research and consulting for more than 17 years; our clients include 48 out of the top 50 pharmaceutical companies.

SOURCE Best Practices, LLC



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