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Products & Services Market Research, Analytics and Forecasting Building Influence and Enhancing Business Value

Increasing the Credibility and Value of Market Research Departments

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ID: 4584


Features:

Metrics, Graphics


Words: 3,011


Published: Pre-2013


Delivery Format: Online PDF Document


 

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Single User: Authorizes use by the person who places the order or for whom the order was placed.

Sitewide: Authorizes use of the report for a geographic site. All people at site can view the report for a year and copies can be printed.

Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.




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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Study Overview

High-performance market research organizations transcend traditional roles as technical support services. They evolve to become valued business advisors to the operating units, product teams, senior leadership and other diverse corporate constituents. This document presents market research leaders with practices that focus on increasing market research departments' sphere of influence through building credibility with senior leadership and providing value-added services to all constituents. Market research leaders will also learn tactics to effectively communicate insights to key leaders, partake in high-level meetings and assess market research value and ROI.

This 17-page document also includes benchmark survey data, conceptual graphics and executive quotes.

Sample Best Practices

  1. Invest time and staff resources to ensure senior management understands the role and value of market research to the organization’s economic and market success.
    *One Market Research Director implemented a department-wide communication mandate: all market research staff in this company must designate 10 percent to 15 percent of their budgeted time presenting, publishing and communicating with senior stakeholders throughout the company to ensure these decision-makers are getting maximum value from market research investments and projects.
  2. Position the market research team as “internal consultants” to troubleshoot problems.
    *The Group Manager of Market Research for one multi-national pharmaceutical company promotes her group’s expertise and flexibility to answer a broad-spectrum of problems that senior management team members routinely encounter during product, group, category or business unit decision-making.
  3. Employ a standardized approach to assess market research value and ROI (return
    on investment) of research projects to the business.
    *At one pharmaceutical company, the Director of Global Market Research for a key therapeutic area is developing a common template for measuring ROI for all research work.

Methodology
This research originates from a Best Practices, LLC consulting project for a client and is based on interviews and surveys with market research benchmark partners.

For further questions on this research or if your company would like to explore opportunities to work with Best Practices, LLC to conduct customized benchmarking research, contact Tracy Hollister at 919-767-9225.

Industries Profiled:
Pharmaceutical; Insurance; Medical Device; Telecommunications; Research; Health Care; Biotech; Shipping; Manufacturing; Consumer Products; Diagnostic; Chemical; Computer Hardware; Computers; High Tech; Electronics


Companies Profiled:
AstraZeneca; Sanofi-aventis; Zurich North American; Towers Perrin; Royal & SunAlliance; Raymond Corporation; Ranbaxy; Penn National Insurance; Alexion Pharmaceuticals; 3M Pharmaceuticals; Aliant Telecom; LexisNexis; Arrow International; aaiPharma; Centocor; Inc.; Abbott Laboratories; DSM Pharmaceutical; Mattson Jack Group; FedEx; GE Financial; Bayer; Genentech; Bristol-Myers Squibb; Hewlett-Packard; DuPont; IBM; Eli Lilly; Janssen; Ortho Biotech; Roche; Mead Corp; Merck; MetLife; NCR; Novartis; Novo Nordisk; Organon; Texas Instruments; Dow Chemical; Xerox


If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.