IMS Health has built a world-class Brand Strategy/Competitive Intelligence Team. Any strategic issue that involves the question "What is the other guy doing?" requires the development of competitor information to support brand strategy.
In the emerging hyper-competitive oncology market, analysis and planning occurs throughout the product life cycle. The PEST factors change rapidly -Political, Environment, Social and Technical. The competitive oncology marketplace is evolving day by day and the business issues are becoming more complex. Sustained success in such a complex environment depends on the quality and foresight of early therapeutic strategies and optimization planning. Competitive intelligence is a crucial step in building those strategies.
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What sales, marketing, medical, or clinical organizational structures do my competitors have?
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What line extensions or new formulations are under development?
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What is the likely timing of approval and launch of key registry trials?
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What is the trial length, number of patients, comparators and key endpoints?
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How will my competitors' products affect the market landscape five years out?
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How important is this product to a competitor? Are they developing a portfolio?
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Where are my competitors focusing their promotional spending?
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What pricing strategy will they use?
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What anecdotal comments regarding safety, efficacy, and product viability can be obtained from KOLs?
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How deep is my competitor's pipeline?
Intelligence gathering is an iterative systematic process using a broad range of sources:
- Existing database
- Trade associations, universities, advertising agencies and government agencies
- Physicians, thought leaders and other medical personnel
- Distributors and raw materials suppliers
- Clinical trial investigators
- Competitors
- Company personnel