Utilizing Cost-Cutting Tactics to Maximize the Effectiveness of Market Research Groups

CHAPEL HILL, N.C., June 6, 2014 /PRNewswire/ -- In order to provide maximum value to internal clients, organizations must continue to innovate. In the healthcare sector particularly, market research executives must also continually evaluate the need for outsourced personnel. In today's competitive marketplace, cost-saving tactics such as outsourcing and automation can enhance efficiency and maintain performance across different functions, including market research.

According to research by benchmarking firm, Best Practices, LLC, 73% of surveyed companies use outsourced personnel for some type of market research. Many market research groups are faced with static headcounts, with internal full-time employee constraints driving the majority of moves to personnel outsourcing. To enhance business impact and reduce redundancy, savvy pharmaceutical and biotechnology companies must determine the right mix of internal staff, external personnel, and automated reporting.

The report, "Market Research Efficiency Benchmark: Using External Personnel and Automation to Maximize Market Research Effectiveness," pinpoints innovative approaches and strategies for increasing efficiency through the use of automation and outsourced labor in market research groups. The report will help Market Research and Business Intel leaders to identify strategies and tactics for cutting costs without sacrificing results.

Key study topics addressed include:

• Market Research Group Structure & Staffing Levels
• Using Outsourced Personnel
• Reasons For Outsourcing
• Contractor Selection & Management
• Assessing The Value Of Outsourced Market Research Labor
• Using Automation To Enhance Market Research Performance
• Outsourcing Competitive Intelligence

The research emerges from survey data gathered from 22 participants representing 19 leading biopharmaceutical companies. Best Practices, LLC analysts also conducted deep-dive interviews with seven participating executives to gather additional 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/rr1293.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

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