Understanding your competitors’ position and most importantly future strategy are key tools for taking strategic decisions within your company. Whether planning product development or sales strategy, being able to judge the threat from old or new competitors can determine your company’s success or failure.
Many segments in the healthcare market are highly contested and market share easily lost. Thus, keeping abreast of the developments and innovations of competitors is crucial.
Also, the influx of lower quality products from cheap labour competitors has not yet posed a meaningful threat to traditional companies in many markets, but this is changing. These companies are becoming market savvy, their products more advanced and their market entry strategies more sophisticated.
HBS seeks to understand not only current and future competitor offerings and their position within an specific market but also the company’s image that it is portrait according to customers and distributors. Equipped with this information our clients can decide how to best meet any challenges with the right sales and marketing strategy.