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Products & Services Competitive and Business Intelligence Contracting Vendor/ Outsourcing

Market Research Vendor Excellence: Exclusive Vendor Management

ID: PSM-340


11 Info Graphics

24 Data Graphics

130+ Metrics

1 Narratives

Pages: 49

Published: Pre-2019

Delivery Format: Shipped


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Market research groups within the biopharmaceutical industry rely extensively on vendors for primary and secondary market research to support their internal clients. Many market research groups opt to work with exclusive vendors to attain greater work efficiency and faster turnaround.

Like other functions that work with vendors, market research groups often struggle to find the optimal balance between controlling vendor costs and delivering quality insights.

Best Practices, LLC conducted benchmarking research to examine both well-established and newly emerging models and trends in market research vendor management. In particular, this report provides benchmarks around managing exclusive vendor partnerships, use and extent of outsourcing of exclusive vendors, evaluation and return on investment, vendor management automation and key lessons learned.

Industries Profiled:
Pharmaceutical; Manufacturing; Biotech; Consumer Products; Diagnostic; Medical Device; Health Care; Biopharmaceutical; Clinical Research; Laboratories

Companies Profiled:
AstraZeneca; Bayer; Boehringer Ingelheim; EMD Serono; Janssen; Merck; Mylan; Nevakar; Pfizer; Sanofi; Stryker; Teva Pharmaceutical Industries Ltd; Upsher-Smith; Vifor Pharma; Japanese - HQ Development Stage Company

Study Snapshot

16 Market Research and Business Intelligence leaders from 15 leading biotech and pharmaceutical companies were engaged in a benchmarking survey to distill insights on exclusive market research vendor management. More than 40% of study participants serve at the director level or higher.

Key topics covered in this report include:

  • Managing Exclusive Vendor Partnerships
  • Use and Outsourcing of Exclusive Market Research Vendors
  • Evaluation and Return on Investment
  • Automation in Vendor Management
  • Lessons Learned in Exclusive Vendor Management

Key Findings

  • Vendors' Primary Research Activities Governed by Project by Project Contracts: Thirty-six percent of primary research outsourced to vendors is governed by project by project contracts while another 36% are governed by preferred vendor contracts. Companies also employ some other partnership models with external vendors - tiered rebate vendor model (used by 75% of companies) and pay for performance vendor model (used by 25% of companies).

Table of Contents

I.Executive Summarypgs. 3-10
Research Overview: Objectives & Methodologypg. 4
Universe Of Learningpg. 5
Key Recommendationspg. 6
Key Findings and Insightspgs. 7-10
II.Structurepgs. 11-15
III.Managing Exclusive Vendor Relationshipspgs. 16-25
IV.Use and Outsourcing of Market Research Vendorspgs. 26-31
V.Evaluation and Return on Investmentpgs. 32-34
VI.Vendor Automationpgs. 35-37
VII.Lessons Learnedpgs. 38-41
VIII.Participant Demographicspgs. 42-43
IX.Appendixpgs. 44-47
X.About Best Practices, LLCpgs. 48-49

    List of Charts & Exhibits

    • Levels at which Exclusive Vendors are contracted for outsourced market research projects or activities
    • Exclusive Vendor Partnership Model used at the listed business unit levels
    • Types of primary market research studies for which Exclusive Vendors are used
    • Vendors with whom participants have enjoyed a successful Exclusive Vendor Partnership
    • Do you have a penalty system built into your contracts with Exclusive Vendors (to prevent complacency and poor performance)?
    • Benchmark companies’ relationship with Exclusive Vendors
    • Do you centralize your vendor management in a vendor management organization (VMO)?
    • Benefits, if any, realized by companies from using a VMO
    • Management of Exclusive Vendor Relationship within internal market research group, in the absence of a VMO
    • How often do your Exclusive Vendors work directly with marketing teams (on market research activities)?
    • Types of training employed by participating companies when onboarding an Exclusive Vendor
    • Impact of use of an Exclusive Vendor on internal employee engagement
    • Reaction of internal market research employees to the organization’s use of an Exclusive Vendor and reasons for the same
    • Percentage of primary market research outsourced to Exclusive Vendors
    • Other types of partnership models utilized with external vendors for market research
    • Participating companies’ primary goals in using an Exclusive Vendor for market research
    • Benefits, if any, realized by participating companies as a result of moving to an Exclusive Vendor for market research
    • Challenges encountered by participating companies as a result of moving to an Exclusive Vendor for market research
    • Metrics used to measure return on investment in use of Exclusive Vendors
    • Ability to demonstrate a positive return on investment using the specified metrics
    • Have benefits of using an Exclusive Vendor outweighed the benefits of other models/using multiple vendors?
    • Automated aspects in participating companies’ vendor management
    • Efficiency from automation of vendor management
    • Briefly describe how you are automating vendor management
    • Top three lessons learned in transitioning to an Exclusive Vendor model or in working with an Exclusive Vendor
    • Anticipated changes in use of Exclusive Vendors in the next 12-36 months