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Competitive intelligence for the pharmaceutical industry

Competitive intelligence for the pharmaceutical industry: the case of Greece

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Original languageEnglish
JournalScience Journal of Business Management
Journal publication dateMar 2012
StatePublished

Abstract

The complex nature of the pharmaceutical market in Greece, combined with intensified rivalry that occurs among pharmaceutical firms, create an unstable environment forcing pharmaceutical companies to become more conscious of the market's behaviors. One way to better understand the market, in order to efficiently support business decisions, is Competitive Intelligence (CI). This research aims to investigate the awareness level and the presence of CI in the Greek pharmaceutical industry, in order to verify whether a formalized CI process would be applicable and beneficial for the industry, and the elements it could entail. The methodology chosen for the completion of the project is a feasibility study. This includes data collection from interviews, an online survey, an industry analysis based on Porter's (1980) five forces as well as extensive literature review, although literature on CI for Greece is limited. The main conclusions of the study are: the fact that, although CI awareness in the Greek pharmaceutical industry is high, actual knowledge on the topic is fairly low; as well as the fact that a CI process, currently not present, could be implemented in the industry. In fact research findings show that such a process would be welcomed by Greek pharmaceutical executives and managers alike.

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