How is it that some companies always appear to be in the winner’s circle while others struggle to maintain their mind’s above water? What do the consistent winners understand that you do not? Those of you old enough to recall Judson LaFlash will recall that among the points he made was that, Marketing is doing the homework and the suggestion is taking the test. What it all boils down to is that you’re bid/no bid choices would not ever be as great or as precise as they are. You are throwing away a great part of your B&P budget and gaming with what is left.
Knowing your client makes the decision to submit a proposal less of a risk. The better you understand the client the less the risk. To make an intelligent bid choice collects the following information:
- Is there a real need within the client’s organization?
- Has a budget and procurement program been approved?
- How rigid is the procurement program?
- If the schedule slips what happens to the money?
- who’s the buyer, who’s the end user and who wrote the statement of work or spec?
- Who will assess the proposals, what are the evaluation standards and where do you stand with the purchaser and end user.
- Which sort of contract is expected and is there follow-on potential?
- Who are the potential competitions and competitive teams? How do they rank in the clients mind?
Is it necessary to have all of this information before deciding to bid? Probably not but the more you understand initially and the earlier the information is refined and upgraded the longer time you will need to make contingencies or take corrective actions in your general approach. It may also help save both the tangible and intangible costs of submitting another rate response. How many steps would you take toward the edge of a cliff in a dense fog?
Market intelligence steps are fairly new to the area of business. A few years back, nobody even heard about this mro industry. What are these measures anyhow? These procedures are, actually, tools which help you understand your competition. It will supply you with detailed reports about the condition of your business and the contest also. It is quite important for companies to have this knowledge so as to guarantee productivity and profitability.