NEW YORK, March 29, 2011 /PRNewswire/ -- That's Nice LLC announced results from the release of its first Nice Insight marketing intelligence report for the Pharmaceutical Contract Research and Manufacturing (CRAMs) market on March 15, 2011. In less than two weeks, the report's clear validation of industry trends – gathered from primary research among key audience-specific organizations – highlights the need for marketing intelligence to improve strategic decision-making.
CRAMs companies can access the data through Nice Insight's two products – Marcom Tracker and Brand Index. Marcom Tracker interprets the visual concepts and messaging strategies of 400 peer CRO and CMO organizations, while Brand Index provides a valuable baseline measurement for customer perception and customer awareness.
Significant data from this first Brand Index report includes 85% of companies scoring less than 40% in overall customer awareness among survey respondents. Given that 40% of survey respondents work in Big Pharma, 26% in biotechnology, and a further 14% in emerging pharma or biotech, this indicates that many CRAMs companies' services are not well known beyond their existing customer base. Lower awareness suggests a narrow strategic marketing focus, rather than communication to a broader prospective customer base to ensure sustainability.
Jean-Francois Leclair, Director of Marketing for Amcor Specialty Packaging, said, "The Nice Insight product offering is extremely interesting to us because we are looking for ways to better understand our prospective customer audience so we can customize our messaging, optimize the market's awareness of our capabilities, and improve our interaction with a wide range of relevant companies."
When selecting a CMO / CRO partner, survey respondents ranked Quality as their number one priority, followed by Reliability, Regulatory Track Record, Pricing, Productivity and Accessibility. The average company indication was that they would outsource five different services in 2011, with a slight increase reflected in annual expenditure.
Two-thirds of respondents indicated that their company would outsource consulting services, making it the most common service in which companies in this segment seek external partners, yet only 7% of companies providing consulting services scored highly in brand awareness and perception.
Half of the respondents reported that their company would be outsourcing pharmaceutical analytical testing in 2011, yet only 5% of companies providing these services scored well in awareness and perception. And one-third in the survey said their company would outsource custom manufacturing, but only 7% of companies serving the market scored highly in awareness and perception.
Cliff Bridges, Global Marketing & HR Communications Director of PGI, said, "The early results released by That's Nice from the Nice Insight survey highlight how much work companies need to do to improve awareness and perceptions. This type of marketing intelligence is not easily available, which is what makes Nice Insight an appealing product offering in terms of a basis for better strategic decisions."
The Nice Insight products, encompassing data from the first survey, were launched at a party thrown by That's Nice at its new, expanded New York offices during DCAT Week on March 16, 2011. Alongside Marcom Tracker and Brand Index, the Nice Insight company database has built-in filters that enable the end user to search for partners within service sectors, by region, and by market and market sector. So it is a tangible tool as well as an intelligence-reporting framework with quarterly updates. More survey results and information on Nice Insight products can be found at www.niceinsight.com.
About That's Nice LLC
That's Nice is a full-service agency providing brand and marketing management with value-added business support. Its brand represents years of knowledge in client markets, a passion for strategic thinking and comprehensive services that meet the needs of global companies.
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