Leveraging Employee Insights to Produce Cutting-Edge Market Research

CHAPEL HILL, N.C., July 2, 2015 /PRNewswire/ -- Leading organizations have increasingly started utilizing their own employees to capture critical product and market insights in internal market research studies. While there are many benefits to employee-based studies, it is essential for executives to fully understand how to leverage their own internal employees to capture critical business-related insights.

According to a recent study by benchmarking firm, Best Practices, LLC, most benchmarked companies find it impossible to capture data that is fully representative of the market solely from their employees.  A third of the pharmaceutical segment captures internal primary research – but also tends to treat it as "directional" and use it to supplement or pave the way for deeper external market research, which follows after it.

The related report, "Internal Market Research Excellence: Leveraging Employees for Key Insights & Greater Engagement," will provide leaders with insights on what motivates companies to use employees for market research; how internal study participants are targeted; how data is collected, vetted for bias, and disseminated; and how participant privacy is protected.

Key study topics include:

• Internal Market Research Programs
  • Governance
  • Study Volume, Types, & Frequency
• Effective Research Formats & Settings
• Internal Market Research Program Objectives
  • Evaluating Goals, Benefits, & Limitations
• Participant Targeting Strategies & Tactics
  • Incentives
  • Employee Segments & Regions Targeted
• Data Collection & Privacy Protection
  • Official Policies for Internal Market Research
  • The Role of Internal Market Research vs. Vendors
• Quotes & Insights from the Field

This benchmarking research drew participation from 50 Market Research, Marketing, and Human Resources leaders at 46 global organizations through a survey instrument. In addition, deep-dive interviews were then conducted with 7 executives to capture qualitative insights.

To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1363.htm

For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://www.best-in-class.com/

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the 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.

SOURCE Best Practices, LLC

Related Links

http://www.best-in-class.com

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