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From Classroom to Boardroom: Training Can Propel Market Researchers from Order-Takers to Trusted Business Advisers

ID: PSM-284


Features:

30 Info Graphics

32 Data Graphics

300+ Metrics

21 Narratives

11 Best Practices


Pages: 82


Published: Pre-2013


Delivery Format: Shipped


 

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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
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Market Research and Analytics organizations increasingly serve expanded global regions, supporting complex product portfolios with brands spread across lifecycle stages in diverse country marketplaces. This creates a pressing challenge: how best to efficiently and effectively train, educate and develop skilled Market Research professionals who can serve and inform the global enterprise.

Best Practices, LLC conducted this cross-industry benchmarking study to probe critical experiences, winning strategies and important resource trends regarding how best to develop and deploy Market Research Training and Development in today’s increasingly complex global marketplace with ongoing resource constraints.

As resources shrink, companies must develop organizations that can turn out high performing market researchers effectively and efficiently, regardless of their location, specialty or service area. Market Research leaders can use this study as a reference point in future budgeting and strategic planning.

Industries Profiled:
Manufacturing; Medical Device; Pharmaceutical; Health Care; Diagnostic; Biotech; Banking; Consumer Products; Science; Financial Services; Energy; Market Research; Biopharmaceutical; Clinical Research; Laboratories; Computers; Computer Software; Utilities; Telecommunications; Professional Services


Companies Profiled:
3M; Abbott; Alcoa; Amgen; Astellas; Bank of Ireland; Baxter Healthcare; Bayer; Becton Dickinson; Boehringer Ingelheim; Boston Scientific; Bristol-Myers Squibb; CareFusion; Caterpillar; Central Life Sciences; Covidien; CUNA; Dow Corning; Dresser-Rand; Eisai; EMD Serono; Ferring Pharmaceuticals; GlaxoSmithKline; Invoy; Ipsos; Johnson & Johnson; Medtronic; Pfizer; Sanofi; Sanofi Pasteur; SAS; The Chamberlain Group; The Coleman Company; Inc; Thomson Reuters; Westinghouse Electric


Study Snapshot

The report is based on the qualitative and quantitative insights of 41 Market Research & Training leaders from 35 companies. In addition, research analysts conducted deep-dive executive interviews with six selected respondents to collect qualitative data and insights.

Key Findings

Perceived Value of MR Function Is in Decline: The perceived value of the Market Research function is eroding at many of the participating companies, where market researchers may be seen as simply order-takers rather than strategic partners.

Training Can Play a Key Role in Restoring the MR Function’s Value: Training can help Market Research create value and earn recognition from its internal clients by developing the analysts to fill new roles as strategic partners who help drive business results.

Partnership/Advisory Role for MR Is Top Objective of Leading Teams: Quantitative/technical skills are needed to build competent analysts whose work is accurate and trusted. Analysts also need insight development skills to improve decision support and consulting skills to help them evolve into strategic business advisors who partner with their clients.

Leading MR Programs Provide Tech Skills & Consulting Training: Interviewed participants have begun hiring market researchers for consulting skills over quantitative skills and offering mentoring and specialized external classes in consulting to evolve technical-oriented analysts.


Table of Contents

  • Executive Summary  3
  • Research Overview  4
  • Participating Companies  5
  • Key Findings  6
  • Key Trends Observed  9
  • Market Research Must Undergo Transformation: Training Can Help  10
  • Market Research Skills Training  14
  • Effective Approaches & Tools  21
  • Increased Outreach Requirements Drive Training Differentiation  32
  • Program Sustainability Is High Priority in Time of Flat Budgets  40
  • Operations &  Effectiveness  52
  • Case Examples & Proven Practices  57
  • Pitfalls to Avoid & Key Lessons Learned  61
  • Market Research Training Excellence  64
  • Verbatim Responses: Pitfalls, Lessons Learned & Best Practices  67
  • Appendix: Participant Demographic Data  75