Free Articles, Free Web Content, Reprint Articles
Tuesday, November 21, 2017
 
Free Articles, Free Web Content, Reprint ArticlesRegisterAll CategoriesTop AuthorsSubmit Article (Article Submission)ContactSubscribe Free Articles, Free Web Content, Reprint Articles
 

Why worry about what your competitors do?

Tips on improving your companyís business capabilities: to distinguish you from your competitors through research of competitive analysis.

Competitive analysis is your measuring stick against the rest of the world. To use a boxing analogy: your form may look impressive when you are boxing a punching bag, but it cannot hit you back. There are also no surprises and no unknowns. Ultimately, to see what you are made of, you have to be pitted against an opponent. Your capabilities, in and of themselves, may be impressive, but would they stand up to your leaner and meaner opponents? Letís look at the reasons why you should mind your competitors and predict their possible actions; what you need to know about your competition; how to find this information; and how to put all the pieces of the competitive analysis puzzle together to exploit your competitorsí shortfalls to you advantage and outdo them through strategic actions.

When I consult for companies, I often hear their business development professionals say, ďWhy should I worry about my competition? We have what we have to offer, and as long as we can give the government the best price we can honestly give them, we should be just fine. If they donít select us Ė well, so be it. We wouldnít want to perform this work at a loss anyway.Ē

Other companies donít worry about the competition because they simply donít have time to do competitive analysis. Some havenít seen much use out of the competitive analysis they have done before, and others simply donít know how.

What would you do differently if you knew that†with good competitive analysis and actions your win-rate would increase twofold? Competitive analysis impacts every single aspect of your capture efforts, and can make a tremendous difference in the outcome of your pursuit.

  • You have to identify competitive positioning with the customer, and ghost your competition to the customer. Knowing your customerís hot buttons will also help you determine where you stand versus your competition.
  • Through your intelligence gathering efforts, you will identify your competition and research competitor information.
  • Through your win-strategy analysis, you will make changes to your win-strategy to outdo your competition. You will be able to leverage your strengths, mitigate your weaknesses, neutralize competitorsí strengths, and exploit your competitorsí weaknesses Ė all based on customerís hot buttons. You will be able to develop discriminators and differentiators, ghosting win-themes, and preempt your competitorsí attacks through turnaround win-themes.
  • You will be able to determine Price-to-Win and your cost strategy based on this information.
  • You will make teaming decisions based on competitive strategy Ė because picking a teammate prior to figuring out the competitive landscape is a fallacy.
  • And, finallyArticle Submission, you will be able to determine a better solution that distinguishes you from competition.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


Olessia Smotrova-Taylor is the President and CEO of OST Global Solutions, Inc. (www.ostglobalsolutions.com). She is a currently practicing capture and proposal manager who has won more than $17 Billion in new business. As one of the proposal industry leaders, she is on the Board of Directors of the Association of Proposal Management Professionals' (APMP) National Capital Area (NCA) chapter and served as the editor and chair of the APMP NCA Executive Summary e-zine from 2008 to 2011, and as a chapter President for 2012.†



Health
Business
Finance
Travel
Technology
Home Repair
Computers
Marketing
Autos
Family
Entertainment
Education
Law
Communication
Other
Sports
ECommerce
Home Business
Self Help
Internet
Partners


Page loaded in 0.048 seconds