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It’s the first step in any marketing campaign or before a product is launched. A step that must be completed to ensure the success of the future marketing activity, begin a review of the current situation, and from a marketing perspective, an examination of the current (or previous) marketing plan and activities.
The process also involves gathering, recording, and analyzing information about customers, competitors, and markets in a systematic way. So, if the marketing plan/activity involves launching new products, repositioning an offer within a market, or refining a marketing plan, this will always be the first strategic step. An important one at that as it predetermines everything that follows.
An industry as large as the pharma industry will bring with it a range of intermediaries across the whole supply chain. Most of the pharma organizations that we work with are in fact intermediaries (organizations who act as a link between other organizations). We, as a marketing agency, are also an intermediary just as our partners in the media are.
Benchmarking gauges all kinds of aspects related to campaigns, such as on processes, tactics, and for the wider organization. assessing your competitor’s organizational headcount or resource allocation, or even marketing tactics and or CRM choice or traditional/digital media is important, this sort of information is gold.
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