Often what separates successful marketing from bad is good competitive intelligence. This is true in life sciences as much as other industries. Many companies approach CI in a way that is unplanned, indirect and harmful to their business. But how does one know if they are conducting their company’s CI in the best way?
If you are trying to determine how to use competitive intelligence better, if you are attempting to judge your efforts compared to companies that have been successful, and if you want to know what computer resources might assist you, this guide can help. If you want to get more attention for CI in your organization, and develop a professional and worthwhile approach, this guide is the most useful, current and relevant published on the subject.
Prepared by Dr. Laura Ruth, PhD and the experts at Fuld & Company, jointly published with Kalorama Information, a premier life sciences market research publisher, can assist executives in the life science tasked with implementing competitive intelligence activities.
The utility and power of competitive intelligence for improving decision-making for strategy, operations, and tactical applications comes from knowing what CI can and cannot do and how it fits into the spectrum of widely used market analysis techniques. Data from a 2007 CI benchmarking survey from Fuld & Company, ‘From Stick Fetchers to World Class™’ indicates that CI is part of many pharmaceutical and biotechnology companies. The pharmaceutical and biotech companies are spending anywhere from less than $100,000 dollars to more than $2 million dollars. The years of experience the information in this guide represents is intended for anyone in the life sciences using CI, such as brand managers, R&D managers, regulatory affairs, or investor relations, who is either learning about CI for the first time or building on information they already know.
- Definition, uses, and anecdotes of what CI is from veteran CI professionals
- Tips, experience, and insight about the use of the Internet for CI
- How to use CI as part of strategy analysis
- Information about how CI software can help a CI research and analysis process
- Evaluating and improving the quality and efficiency of a CI process
- Glossary of over 100 CI terms
The information that follows has been collected from Fuld & Company thanks to the help and contributions from many of the staff. Fuld & Company opened its doors in 1979 and is the first and oldest competitive intelligence firm. Leonard Fuld, founder and president, is a pioneer of CI. The launch of the Pharma-Healthcare I3® (Internet Intelligence Index), a comprehensive online index of over 250 CI links, in January 2007, is just one of the many innovative intelligence resources the firm has created. Other CI resources created include intelligence-gathering techniques and books. Mr. Fuld has also continuously shared his innovative thinking for the last 30 years in Academy of Competitive Intelligence classes, lectures around the world, and with his staff.