The term sustainability is often misunderstood and misused; however, it can be a powerful tool for creating better value in pharmaceutical market research. In this article, we’ll explore what sustainability means in pharma market research, how to achieve it, and how you can use it to help your organization improve its drug development pipeline and overall effectiveness.
By using digital technology, data protection and privacy laws compliance, understanding the environment in which you operate and reducing food waste by reusing leftover food items from meals and lunch meetings, we can achieve sustainability in our pharmaceutical market research activities.
How to Achieve Sustainability in Pharma Market Research?
Here are 5 simple ways to achieve sustainability in pharmaceutical market research:
1. Use of Digital Tech in Pharma Market Research for Reporting
As a result of the increasing digitalization trend in the pharma market research industry, many companies are now using digital tech for reporting. The use of digital tools for reporting has several advantages:
- It enables you to get your data faster and more efficiently than ever before. This means that you can make better decisions in real time based on the information you have at hand–and it also reduces costs because there’s no need to have expensive analysts work overtime crunching numbers or preparing reports manually.
- You’ll be able to access data from anywhere, which means less travel time spent traveling back and forth between offices and more time spent actually doing work!
- Digital reporting also helps you to minimize human error because it’s more accurate than manual report preparation. This is especially important for pharma research companies, which rely on scientific accuracy in their work.
2. Data Protection and Privacy Laws Compliance
Data protection and privacy laws compliance is an essential aspect of a sustainable business. If you want to be seen as a reputable company, you need to show that you take data protection seriously. You can do this by making sure that your market research process is compliant with all relevant laws and regulations, including the General Data Protection Regulation (GDPR).
To achieve data protection and privacy laws compliance:
- Follow industry best practice guidelines for collecting consumer information such as those provided by ICMRG International Conference on Market Research & GDPR Compliance Guidelines for Market Research Professionals
- Make sure any third parties working on behalf of your organization are also following these guidelines
- Ensure that any employees who work with customer data have been trained in how best practices should be applied
3. Understanding the Environment in Which You Operate
It’s important to understand the environment in which you operate. This means understanding how your actions impact the environment, as well as how they affect your customers, employees and suppliers. It also means understanding how these actions may affect investors.
For example:
- If you’re a pharmaceutical company that produces drugs for cancer patients who are undergoing chemotherapy, it would be prudent to conduct research into what effects those drugs have on human health and the environment before releasing them onto the market (and potentially harming people).
- If you work for a cosmetics manufacturer that uses ingredients derived from animal products such as beeswax or fish oil then it would be prudent to consider if there are plant-based alternatives available
- Before committing yourself fully to using only animal-derived materials doing so could alienate some potential consumers who don’t want their cosmetics tested on animals (or simply prefer not having any part of their purchase come from animals).
4. Reduce Food Waste by Reusing Leftover Food Items from Meals and Lunch Meetings
If you’re like most business professionals, you probably eat out at least once a day. And if this is the case, it’s important to consider how much food waste your company produces on a daily basis–and how much money they could save by reducing this amount of waste.
Here are some simple ways to reuse leftovers in the office:
- Use leftover food items from meals and lunch meetings as ingredients in another meal (like soup or casserole).
- Make sure that employees know how long certain foods can be stored safely at room temperature before they go bad (this will vary depending on what type of food it is).
5. Invest In Green Energy Sources for Office Needs and Facilities Maintenance
The next step to achieve sustainability is to invest in green energy sources for office needs and facilities maintenance. This includes using renewable energy such as solar, wind and hydropower. You can also use energy-efficient products like LED lights that consume less electricity than conventional bulbs or CFLs (compact fluorescent lamps).
It’s not just about saving the environment but also saving money. If you save enough money on your electricity bills by switching from incandescent bulbs to LEDs, then you could donate this amount to charity or make an impactful contribution towards climate change mitigation projects worldwide!
Make sure that any waste generated during office operations gets recycled by following these simple steps:
- Use recyclable paper products such as notebooks instead of printing unnecessary documents directly onto paper sheets;
- Buy items made from recycled content–for example, plastic bottles are made into new bottles after being collected at recycling centers.
Conclusion
Pharma market research has come a long way in the past few years. There are more ways than ever before to conduct your research and get the information you need from it. But even though technology has made it easier, there are still some things that only humans can do well–and sustainability is one of them.
