We kicked off the new year with a brand-new Question of the Month (#KCR_QoM)! In January, we asked our community about “boutique” CROs. The word, originated in the fashion industry, is now widely used to describe industry services. We asked our followers what they thought “boutique” meant and the majority (66%) of responders believed that CROs with a boutique designation were “able to provide highly customized solutions”. The rest of the votes were split nearly evenly with 19% of votes signaling that boutique CRO’s were “high price and high-quality provider” and 15% thinking that the term referred to a “small [CRO], with limited geographic coverage”.
In today’s pharmaceutical atmosphere, where big CROs have been dominating the market, the word “boutique” often comes as a contradiction. Although they are associated with a small scale and high price, a competitive advantage of the boutique CRO is the ability to invest more heavily in the client vision and goals. This allows them to be more responsive and precise when providing solutions. Steffen Runge, KCR’s Associate Director of Regional Clinical Operations, summarizes the “boutique” discussion, noting that a boutique CRO is “kind of a tailor – providing clients with exact measured, well fitted solutions… solutions that fit 100%”.
Expect the next Question of the Month (#KCR_QoM) in February.
Results of #KCR_QoM from previous months:
December 2018 - Do you enjoy Xmas/Holidays parties with your work colleagues?
November 2018 - What is the biggest value investigator meetings bring?
March 2018 - Consolidation in the CRO industry makes my work...
Associate Director, PR & Marketing
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