RESEARCH TRIANGLE PARK– A cutting edge information study found that 43 percent of pharmaceutical and biotechnology companies primarily outsource their market research workload, while other companies combine in-house work with outsourced vendors.
Cutting Edge Information’s study found that corporate culture was one of the leading factors in a company’s decision to outsource market research. Cultures more comfortable retaining control are less apt to outsource, whereas others view outsourcing as a more efficient means to an end.
“Pharmaceutical Market Research: Decision Support for Brand Growth,”
available at http://www.pharmamarketresearch.com, contains more than 250 metrics and details how top companies allocate resources, develop strategy and conduct effective market research activities.
The report contains market research budgets, staffing, strategies and tactics from 19 top pharmaceutical companies including Bayer, Eli Lilly, P.zer, Procter and Gamble Pharmaceuticals, and Wyeth.
“Outsourcing also enables companies to expand their capabilities as
needed, providing greater flexibility and responsiveness,” said Elio
Evangelista, senior analyst at Cutting Edge Information. “Outsourcing market research simply helps companies operate a lean organization with fewer resources.”