What is competitive landscaping?
Competitive landscaping involves identifying, evaluating, and monitoring the strengths, weaknesses, opportunities, and threats of both current and potential competitor products and/or competitor manufacturers.
Competitive landscaping might include, for example, the analysis of market share, product portfolios, research and development pipelines, pricing strategies and marketing tactics of key players to inform strategic decision-making.
Why is competitive landscaping important?
Competitive landscaping is an integral part of a number of product lifecycle management activities, including:
- asset evaluation
- clinical development optimization
- indication assessment
- launch sequence optimization
- product value communication
- strategic pricing and reimbursement.
Ultimately, competitive landscaping is key to understanding the market environment and developing effective strategies to outperform competitors.