SOURCE: Cutting Edge Information

October 24, 2007 07:27 ET

Global Centralized Market Research Teams Increase Efficiency and Cohesion

RESEARCH TRIANGLE PARK, NC--(Marketwire - October 24, 2007) - According to a study by pharmaceutical business intelligence leader Cutting Edge Information, even the largest of companies cannot afford to assign more than one full-time equivalent (FTE) to affiliate market research teams (http://www.PharmaMarketResearch.com). This dearth of personnel and funds leads most pharmaceutical companies to establish a centralized market research team at the global level which holds responsibility for the bulk of the company's market research.

The study found that 68.2% of companies maintain some sort of global, centralized structure for their market research teams. Even those without a centralized structure commit definite resources, with 90.9% of surveyed companies indicating that they have a dedicated market research team. A centralized structure allows companies spread across continents and countries to develop consistent core messages, whereas decentralized teams may develop an array of messages that could cause internal confusion. Although each country or market demands different, individualized messages, a central core message that can be adapted brings cohesion that facilitates efficiency.

Also, a centralized structure enables companies to lend support to areas that require specified or additional market research without dedicating serious resources to develop a team in that specific area or affiliate. The central teams can provide resources and aid to the smaller market research teams spread across affiliate markets.

According to Elio Evangelista, some companies, coping with insufficiently equipped affiliates, strategically establish centers of excellence across key geographical markets to ensure global dissemination of market research. "For companies, having centers of excellence requires the global or central market research team to be in constant communication with other researchers at affiliates or in other markets. Of course, this is not a one way street. While it is paramount that the global team shares its findings globally, it is just as important that the affiliate researchers communicate specific needs to the global team. If this fails, a market research gap can develop."

"Developing Integrated Market Research Functions: Decision Support for 2008," available at http://www.PharmaMarketResearch.com, is an extensive guide outlining surveyed companies' market research structures, budgets, staffing and outsourcing metrics. The report also includes best practices and strategies for elevating the market intelligence function to a stronger, more strategic decision support organization.

To download a free summary of this 173-page report, visit: http://www.cuttingedgeinfo.com/pharmamarketresearch/PH102_Download.asp#body

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