Drive Business Success with In-Depth Evaluations using Benchmarking in Colombia
Colombia’s growing economy, rising consumer demand, and improving business climate present exciting opportunities. However, competition is intensifying, and companies must continuously evaluate their market position to stay ahead. Benchmarking helps businesses refine their pricing, optimize operations, and enhance their go-to-market strategies. Yet, challenges such as data scarcity and fragmented distribution networks make benchmarking in Colombia particularly complex
At Midas, we provide precise, ethical, and actionable benchmarking insights to help multinational companies navigate these challenges. Whether the focus is on pricing optimization, supply chain efficiency, or competitor strategy, our tailored approach delivers the insights needed to drive performance
Challenges of Benchmarking in Colombia
- Lack of Reliable Market Data – Public data is often incomplete or inconsistent, making it difficult to establish accurate benchmarks
- Fragmented Distribution Channels – Many industries rely on decentralized distribution networks, making competitor comparisons challenging
- Regulatory & Economic Uncertainty – Changing policies and economic fluctuations can impact benchmarking accuracy
Without a well-organized, ethical, and country-specific benchmarking approach, companies may rely on incomplete or wrong information, resulting in ineffective business strategies
How Midas Can Help with Benchmarking in Colombia?
We can help you significantly improve your performance in Colombia through:
- Reliable Competitive Benchmarking – We gather industry data through expert interviews, proprietary databases, and extensive research
- Distributor & Channel Benchmarking – We assess key players in supply chains to help companies optimize their go-to-market strategies
- Agile Benchmarking for Market Changes – Our dynamic approach ensures benchmarking insights remain relevant despite economic shifts
Midas empowers companies in Colombia with actionable insights to enhance their competitive edge. Are you ready to utilize benchmarking for smarter, faster decision-making in Colombia?
Case Example: Accelerating NIP Inclusion for a New Vaccine in Colombia
Background and challenges
A multinational subsidiary sought to fast-track the inclusion of a new vaccine into Colombia’s National Immunization Program (NIP). However, the company faced significant hurdles:
- No Previous Experience in the Vaccine Market – Without a track record in the sector, navigating the regulatory and institutional landscape was challenging
- Complex NIP Approval Process – The inclusion process involved multiple formal and informal steps, requiring deep knowledge of key stakeholders and decision-making dynamics
- Need for Strategic Positioning – To succeed, the company needed a clear roadmap based on best practices from previous vaccine approvals
Approach
To develop a winning strategy, we conducted a comprehensive benchmarking study:
- Selected two successful vaccines as reference points to understand what led to their approval
- Performed in-depth desk research to compile public data, media campaigns, and the formal approval pathway within Colombia’s healthcare system
- Conducted expert interviews with vaccine launch teams and key opinion leaders (KOLs) involved in the NIP decision-making process
Results
We developed a well-structured plan for NIP inclusion, ensuring alignment with government expectations and key stakeholder priorities. This approach also positioned the vaccine favorably within Colombia’s main HMOs, facilitating a successful market entry
What Our Benchmarking in Colombia Clients Say:
Company Name
Some of Our Benchmarking in Colombia Customers:
