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A recent study indicates that 87% of pharmaceutical companies supplement standard market research activities by collecting competitive intelligence, allowing them to better position their products against competitors' efforts, according to a study released by pharmaceutical intelligence firm Cutting Edge Information.
Over the last few years, there has been a trend in the pharmaceutical industry of companies integrating the collection of competitive intelligence with market research to create a comprehensive strategic plan for the release of a new drug.? Competitive intelligence includes almost any information on competitors' products, positioning, prices, organizational structures and strategies.
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"Competitive intelligence information helps companies anticipate market changes, and even more importantly, anticipate their competitors' reactions to these industry events," said Elio Evangelista, senior analyst at Cutting Edge Information.? "This information is also useful in determining a product's competitive positioning, which includes the product's price positioning and promotional strategy."
"Pharmaceutical Market Research: Decision Support for Brand Growth," available at http://www.pharmamarketresearch.com , contains more than 250 metrics and details how top companies allocate resources, develop strategy and conduct effective market research activities.? The report contains market research budgets, staffing, strategies and tactics from 19 top pharmaceutical companies including Bayer, Eli Lilly, Pfizer, Procter and Gamble Pharmaceuticals and Wyeth.
"Pharmaceutical Market Research: Decision Support for Brand Growth" showcases metrics and real-life techniques for bettering the efficiency of pharmaceutical market research departments, in three areas:
???? *Structure and Investment - budgets, sizes and structures of major
????? pharmaceutical market research teams
???? *Market Research Strategy - Setting objectives and plans to support key
????? development activities
???? *Market Research Activities - Translating strategies into actions
To download the online summary of this 146-page report, visit http://www.pharmamarketresearch.com .? For more information on this report or to learn about other Cutting Edge Information research, contact Elio Evangelista at
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
or 919-433-0214.
Senior Analyst Elio Evangelista is a research project leader with Cutting Edge Information.? Mr. Evangelista's customized research work in competitive intelligence, cardiovascular marketing, market research, and key opinion leader management practices are currently in place at several Fortune 500 companies.
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