Competitive business strategy:
In a fast-paced industry such as the pharmaceutical sector, it is integral to give your business the edge by staying one step ahead of your competitors. With patents expiring, technology developing, business models changing and new competitors emerging, a competitive intelligence strategy is quickly becoming imperative to companies in the pharmaceutical industry.
Competitive intelligence, the process of compiling and analysing intelligence focusing on competitor products, customers and market environment, can be a hugely efficient tool in identifying the direction or strategy of a competitor. This, in turn, can be used critically to shape a company’s strategic response, allowing it to maintain its advantage.
In order to enter the market in a strong way and to allow all other competitors aware of the new entrant to the market we will be applying the treat of new entrants strategy which will change major determinants of the market environment such as the market share and the customer satisfaction.
Encouraging medical studies would be used as a backup strategy for further sales increase.
Reasonable prices and offers would be offered to our customers that will allow us gaining and increasing the market share in this field.