In my experience, I believe that staying informed about the industry is one of the most important aspects. The first and biggest reason is knowing your competition how one can make sure that our product is best in its market. Second, and something directly related to the current situation of my company is being up to date with the industry suppliers and other entities connected to the company. My company is going through qualifying a new supplier for an important component and knowing the current market and what available helped us find a similar and effective component to the discontinued one. Lastly, being well informed about the industry will also ensure that customer needs are continually met.

Actually all the factors listed above are a very important tools for a successful product manager, but I think its very important for the product manager to Stay informed about industry and market data, because better pricing and better service starts with better information. So the product manager should collect detailed data about your customers and your reps' activity, this data can shed new light on your sales process, helping the product manager not only organize the business and track goals, but also improve the reps' effectiveness at the point of sale. For example; Collect Quality Data, and collecting data from sources such as electronic health records, registries, and pharmacy and insurance records.