Elevate your Competitive Intelligence Plan:
Prepare for a Winning 2024
As we approach the holiday season, pharma Competitive Intelligence (CI) professionals have a unique opportunity to set the stage for success in the coming year. Here, we dive into Atacana’s five critical planning steps, to ensure pharma CI professionals start with a winning strategy.
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5-Step Competitive Strategy Planning Process
1. Start by Defining Key Questions – Have Your Competitive Readiness Plan in Place Before the Holidays
The key to success in any competitive landscape is early preparation. Identify key business questions and decisions. What will the brands need to know to make strategic and tactical decisions next year?
2. Anticipate and Predict – Anticipate Catalysts that may Impact Strategic Plans
Within competitive intelligence, anticipating future trends and potential catalysts is paramount. Rooted in thorough research and insightful analysis, this approach not only cultivates directional clarity but also positions the organization to take action.
3. Organizational Alignment – Get Everyone On-Board with Priorities to Win in 2024
Organizational alignment is key for successful strategy execution. Prioritize strategic team engagements such as competitor simulations, portfolio and future world’s workshops or discussions. Engage the various internal stakeholders so everyone is rowing in the same direction. As the driver of a unified approach you will ensure your brands have an exponential advantage.
4. Action Plan – Define What Needs to Be Done, When, and by Whom
The successful implementation of a strong competitive intelligence (CI) strategy depends on having a comprehensive action plan. Assign specific dates and responsible parties to each tactic that aligns with the overall strategic plan. Prepare for potential competitive changes by incorporating them into your strategy, even if they don’t materialize. A thorough plan ensures that both you and the larger organization are well prepared to execute effectively in any conceivable competitive scenario.
5. Start 2024 Ready to Win – Be the Strategic Thought Partner You Are Meant to Be
Great competitive intelligence is integral to a great strategic brand plan. Make sure brand teams know CI is not news gathering, it is the development of actionable insights that continuously evolve their winning strategies. Champion vigilant compettive responsiveness, proactive scenario planning, and in-depth research for an exponential advantage. Become an indispensable strategic thought partners within the organization with a proactive plan.
