The Future of Market Research: Challenges And Changes In A Core Pharmaceutical Function

Industries Profiled:
Medical Device; Pharmaceutical; Professional Services; Health Care; Diagnostic; Research; Biotech; Technology; Manufacturing; Consumer Products; Media; Consulting; Energy


Companies Profiled:
3M Pharmaceuticals; Adler Life Sciences; LLC; Abbott; Charles River; Auxilium; BioChain; Bayer; Boehringer Ingelheim; Inventiv Health; Alcon; Labopharm; Actelion; IRIS; Bausch & Lomb; Cubist Pharmaceuticals; Cephalon; Inc.; CSL Behring; EMD Serono; GlaxoSmithKline; IDS Canada; Ethicon Endo-Surgery Inc.; Galderma; IMS; Medrad; Orion Energy; MSD; Vertex Pharmaceuticals; Ortho-McNeil; Merck; Novo Nordisk; Pfizer; Vistakon; Johnson & Johnson

Study Snapshot


In an effort to identify recent changes, new directions, and best practices prevailing in Market Research functions of pharmaceutical, biotech and medical device organizations, Best Practices, LLC has compiled this exclusive research report drawn from surveys and interviews of 42 representatives from 35 companies with a median of 11 years experience in the pharmaceutical, biotech and medical device industries.

This study will help define how the market research function can continue to provide value through:

• Market Research Roles & Responsibilities
• Use of Outside Resources
• Market Research Talent Selection & Development
• Metrics & Performance
• Practice Insights

• Currently, New Product Development and Strategic Planning responsibilities are split between Market Research and other organizations. A strong refocusing on development and planning suggests Market Research’s vital role in strategic decision support.

• More than two-thirds of respondents believe Market Research will balance strategic and tactical work. Few believe tactical market research will be the main focus of the function in three to five years.

Project Methodology and Study Objectives 4
List of Participating Companies 5
Job Titles of Participants 6

KEY INSIGHTS 7
Market Research Functions Along a Continuum 8
The Overall Balance is Shifting 9
Service Orientation 10
Support for Other Functions/Activities is Expanding 11
Managing Talent Must Address Future Needs 12
Innovation is an Integral Part of Evolution 13
Vendor Relationship 14
Measurement and Value 15
Ensuring a Successful Future for Market Research 16

DETAILED FINDINGS 18
Type of Companies Represented 19
Centralized & Distributed Market Research FTEs 20
No. of Brands Supported by Market Research 21
Current Market Research Support 22
Responsibility for Activities 23
Strategic Market Research 24
Strategic vs. Tactical Market Research 25
Expectations for Using Outside Resources 26
Expected Spending on Outside Resources 27
Expected No. of Market Research Contractors/Suppliers 28
Future of Market Research Statements 29
Market Research Staff Hiring Criteria 30
Changes in Hiring Criteria 31
Traits of a Senior Leader in Market Research 32
Most Effective in Developing Market Research Staff 33
Least Effective in Developing Market Research Staff 34
Key Metrics 35
What Constitutes a “Good Year?” 36
Changing Metrics/Definition of Success 37
Characteristics of Future Market Research 38
Recent Innovations 39
Fostering Innovation 40
Adding Value 41
Biggest Mistakes 42
Obstacles to Future Success 43

APPENDIX 44
Additional Quotes 45
About Best Practices, LLC 47

• Expected Spending on Outside Resources
• Average number of brands supported by market research at benchmarked companies
• Extent of support currently provided by MR to different parts of benchmarked companies, and how - if at all - do is the expected changes in these support levels in 3-5 years
• Responsibilities of functions tied to different activities?
• Expected usage of outside resources (contractors, consultants, suppliers) for each of the following market research activities at benchmark companies in the next 3-5 years
• Expected spending in total on outside resources for market research at benchmarked companies in the next 3-5 years
• Anticipated growth of market research function in the next 3-5 years with respect to several characteristics as explained by research participants