What is the best way to assess potential competitor? What information is the most important for effective bid strategy?
Assessing Potential Competitors
The best way to assess potential competitors is by maintaining a competitor database. There can be no effective bid strategy if a full assessment of the potential competitors is not done in advance. The competitor’s database should consist of all the assessments of that have already been carried out. Second, an up to date record of the bids the competitors have won and their press releases should be kept. Finally, under the freedom of information act, a copy of the winning bids of the competitors should be obtained.
There is a need to build and maintain a strategic marketing database that consists of information about market trends, programs, customer needs and expectations and competitor’s information. There is also a greater need to use this set of information in a meaningful manner. There must be a team of experts from the technical, marketing, proposal management, and finance and program management departments to prepare a bid proposal.