SOURCE: Kalorama Information

November 17, 2008 13:19 ET

Competitive Intelligence Can Help Healthcare Firms Avoid Missteps in Uncertain Times

NEW YORK, NY--(Marketwire - November 17, 2008) - The role of Competitive Intelligence (CI) has grown in the last 10-15 years from the mere reactive collecting of assorted information, into strategic tool for profitable business -- and continues to do so in this uncertain economy -- according to a new joint publication from Kalorama Information and Fuld & Company, "Effective Competitive Intelligence: A 'How-To' Guide for Life Science Companies."

CI has probably been around longer in the medical arena than in most other industries, since it is science driven and must generate constant innovation to stay ahead of the competition. During times of economic uncertainty effective CI can help companies avoid costly missteps.

CI is an on-going process of learning about the competitive climate and making decisions based on analyzed information. CI firms look at macro issues -- such as social, technical, and economic factors, partnerships between companies, industry and universities, and emerging and alternative technologies -- investigating industry dynamics and immediate competitors in a variety of ways. Much of this involves travel and conference attendance. But today budgets are being cut or frozen, and companies can't attend as many conferences to learn about CI and competitors.

Decision-makers in the CI arena need to stretch their ever tighter budgets. As employers cut the number of people they send to conferences, those who do attend must get the most out of it. They need to be smart about their activities, maximizing their time on the ground and knowing what to look for.

"If a company is experiencing financial difficulty, CI is an area executives turn to for both tactical and strategic insight," notes Leonard Fuld, president of Fuld & Company. "If decision-makers know more about a market and how to best position the company in the competitive landscape, they may be less likely to have financial difficulties."

"Effective Competitive Intelligence: A 'How-To' Guide for Life Science Companies" is a guide prepared by Dr. Laura Ruth, PhD and the experts at Fuld & Company, and jointly published with Kalorama Information. The guide is designed to assist anyone in the life sciences tasked with implementing competitive intelligence activities and includes anecdotes of what CI is and can do from veteran CI professionals. For further information visit: http://www.kaloramainformation.com/redirect.asp?progid=13401&productid=1807610.

About Kalorama Information

Kalorama Information supplies the latest in independent market research in the life sciences, as well as a full range of custom research services. We routinely assist the media with healthcare topics.

About Fuld & Company

Founded in 1979, Fuld & Company (www.fuld.com) is the first and oldest competitive intelligence firm. Leonard Fuld, founder, president, and leading author, has created many of the intelligence-gathering techniques used throughout industry today, as well as the innovative Pharma-Healthcare I3® (Internet Intelligence Index), a comprehensive online index of over 250 CI links.

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