Clinical development programs: Investigate competitors clinical development programs to support specific treatment and diagnostics claims.
Key questions: What is competitor “A” doing in their clinical development program for the launch of a specific product in a market?
Portfolio management strategy: Profile competitors’ management of the product and/or service portfolio, specifically in terms of brand positioning, marketing and sales activities.
Key questions: How do my key direct competitors currently manage their portfolio of products? What are the product lines of priority? How are these products positioned in the market? What are their marketing programs?
Sales force management activities: Profile competitors’ sales force management, including sales force size, geographical distribution, collaboration with intermediaries, sales compensation and incentive schemes. Review past and ongoing marketing and sale efforts in order to determine results vs. objectives. Establish ROI, efficiencies and inefficiencies to refocus spending. Implement programs to optimize marketing investments.
Key questions: How can we achieve more sales with less marketing spend? What ultimate sales force structure should we adopt to drive growth? What are my competitors doing to motivate their sales force? How big are my competitors’ sales teams? How are they organized?
Comparative analytics: Profile ‘best-in-class’ competitors and implement proactive strategy. Anticipate and qualify choices and consequences made by competitors, suppliers, customers, and governments organizations. Assess competitors in terms of their strengths and weaknesses and compare and contrast their different key success factors vis-à-vis the client.
Key questions: How do I compare against my main competitors? How can we overtake our competitors’ market position? Are we optimally set-up to anticipate and react upon competitors’ moves? What do we need to do to redefine the market and make competition less relevant? How will the entry of a new competitor in the market affect our bottom line? How can we identify and test the plausible trends that will affect our company’s future?