RESEARCH TRIANGLE PARK, NC -- (Marketwire) -- 11/07/08 -- A new study from businessintelligence leader, Cutting Edge Information, shows that companies aremoving away from attempting to assess a hard-metrics return on investmentof market research. Instead, market research groups work to ensuresatisfaction of their internal clients.According to survey data, 74% of companies do not attempt to calculate ROI.Of that 74%, 39% do not conduct any sort of performance measurement.Because market research comes so early in the chain of events leading to aproject launch, and often informs decisions and strategies rather thandriving tactics, many companies have abandoned hard ROI measurements asinfeasible.
Instead, many market research teams concentrate on building internal clientsupport to leverage for internal support. "Because of its increasedprominence in contributing to central strategy and key stakeholderdecisions, many market research groups have shifted their focus from tryingto directly tie market research to the success of products," says leadauthor of the report, Jordan Stone. "With clients such as businessdevelopment, ensuring the customer is satisfied and utilizing to thefullest the deliverables and insights communicated has become a bettermeans by which to gauge market research success."
"Improve Market Research Impact" examines structure, spending, staffing,and compensation data. Developed from surveys and interviews with topexecutives from 30+ companies, the report provides strategies formaximizing market research's reach and impact and winning stakeholdersupport.
The 210-page report contains 500+ metrics, including:
-- Select surveyed companies' organizational structures-- US and rest-of-world market research budgets, 2007 and 2008, by company size-- Departments that contribute funding to market research-- Brand-level market research spending, by phase-- Market research spending for 13 therapeutic areas, by phase-- US and rest-of-world market research spending 2007 and 2008, by phase-- Market research analyst compensation based on experience-- Starting phase for various market research studies-- Percentage of overall US market research budget spent outsourced activity, by company and company size-- US market research dollars outsourced by year and by company size-- Percentage of overall rest-of-world market research budget spent on outsourced activities
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CONTACT INFORMATION:
For more information, contact
Project Leader
Jordan Stone
Email Contact
919-433-0376
For media inquiries, contact
Marketing Specialist
Lucas Einstein
Email Contact
919-433-0207
