70% of surveyed market research executives acknowledge that "soft" intrapersonal skills such as negotiation and "listening" are critical competencies for market research professionals - yet most organizations do not have training programs nor systems to monitor and develop these skills in their market research staff.? These organizations risk operating with an under skilled, and less effective market research staff than their competitors. Training and development gaps in market research programs are one of many critical insights that emerged in a new study - which sampled 85 market research organizations across 20 industries - by benchmark leader, Best Practices, LLC.
Profiled in a free white paper online at best-in-class, this breakthrough study probes best practices that market research organizations use to train and develop effective market research staff.
Key findings include:
-Market analysis, competitive assessment and launch tracking were identified as the top 3 of 22 skills and competencies important to high performance.
-More than 50% of market research professionals have a masters or PhD.
-More than 95% of senior market research managers identified market trends and changes as the top two activities critical for market researchers to provide proactive business insights to business leaders.
N-early 90% of market research heads identified anticipating future business needs and challenging brand thinking as other top activities most valued by their internal business customers.
-More than 80% of market research leaders identified essential marketing management and brand management skills lacking in their research staff.
-Integrating competitive intelligence skills into the overall market research function to forge deeper insights about the market and competition.
-Designing and utilizing enhanced data representation methodologies and tools that help communicate the meaning, impact and relevance of market insights to your internal customers.
-Segmenting and packaging market research information to make it relevant to specific user groups.
Cited in Pharma Market Research Report, this study is recognized as a valuable tool for market research leaders: "The integrated insights of the 'best of the best' create an improvement roadmap for a single company's current performance levels. This most intensive and insightful analysis of MRD activity, prowess and best practices in the last decade focuses notable attention on the global healthcare sector..."
For an assessment of your market research department, contact Chris Bogan,
President & CEO at (919) 767-9228 or by email
ABOUT BEST PRACTICES, LLC
Best Practices, LLC, is a research and consulting firm that conducts work based on the 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.? For more information call (919) 403-0251.