TArticles tagged with: market research

10 Ways to mitigate competitive analysis risks

At the 2011 APMP International Conference, Lohfeld Consulting Group’s Managing Director Brenda Crist presented an informative session on mitigating proposal risks. Here are Brenda’s identified Competitive Analysis Risks and recommended Mitigation Strategies: You do not know the competitors or their relationships with the customer. Talk with your employees, the customer, stakeholders, users, and vendors to identify potential competitors. Determine if competitors have self-identified on market research databases. You have limited knowledge of competitors’ solutions and capabilities. Use open-source research information, e.g., Internet, news, annual reports, and professional associations, to identify competitors’ capabilities. Hire subject matter consultants who are knowledgeable about the market to describe the competitors’ capabilities. Look for job ads on competitors’ career web pages to determine the type and caliber of personnel they are looking to hire for the job. You have limited knowledge of competitors’ personnel. Use open-source research products or social media to identify competitors’ staff … Continue reading 10 Ways to mitigate competitive analysis risks

Continue reading...

7 Reasons to meet the client before RFP release

Best informed wins

The better you understand a new business opportunity, the more likely you are to make an informed decision about whether you should bid. Similarly, the better the government understands your firm’s capabilities, the more likely they are to want your company to compete. Meeting the client is an essential first step in this process. You must conduct face-to-face information-gathering meetings with clients to increase your knowledge about the opportunity and to begin positioning your firm as a leading competitor for the procurement. While market research provides a running start at understanding the opportunity, the clients are the ones closest to the opportunity and can provide information that outsiders cannot. By holding true conversations with a client as soon as possible in the opportunity identification and qualification stages – versus holding thinly veiled marketing meetings – you can gather information that helps you to understand the client’s requirements and objectives,  tailor … Continue reading 7 Reasons to meet the client before RFP release

Continue reading...