How to Leverage Sales Force Competitive Intelligence in the Pharmaceutical and Medical Devices Industry

Benchmarking refers to the comparison of the metrics, processes and practices of a particular business to the others in the industry. It brings external perspective to the table, triggers sanity checks, eliminates internal biases, reveals blind spots and provides an opportunity to emulate or exceed. Sales force is the most significant resource deployed by healthcare companies in order to drive the uptake of their assets. The utilities of sales force benchmarking and assessment exercises are numerous, for both emerging and established healthcare, pharmaceutical, biotechnology, diagnostics and medical devices companies. The primary stakeholders of sales force intelligence are brand teams, competitive intelligence, commercialisation strategy, licensing and partnering, new product planning, search and evaluation etc. Based on our prior experience, some of the applications of sales force intelligence are summarised below:

  • Performance improvement and understanding the practices and praxis of best player in the industry
  • Understanding peers’ sales force strategy, and refining one’s own strategy
  • Assessment of human resources requirements for launch of new products
  • Assessment of investment requirements to establish/augment sales capabilities
  • Elimination of any uncertainty associated with the estimation of resource requirements for commercialisation
  • Optimisation of go-to-market strategy for launch and commercialisation
  • Comparison of in-house commercialisation effort with licensing and partnering deals
  • Negotiation assistance with respect to deal terms

About Author

BiopharmaVantage is a specialty consulting firm that provides high quality worldwide sales force intelligence amongst other competitive intelligence and decision support services to pharmaceutical, biotechnology, diagnostics and medical devices companies. If you would like to explore how we can assist, then please contact us.

BiopharmaVantage Competitive Intelligence Services

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