Often times, clients want to hire us to perform a Price to Win analysis late in the game. You know… when the RFP is out, the proposal is due in 28 days and their hair is on fire. They tell us they don’t need a Competitive Analysis, but are looking for Price to Win support for the program. And while we’re happy to help our customers in any way we can, this is not an ideal situation. Competitive Analysis and Price to Win Analysis go together like peanut butter and jelly. We don’t want to separate them! Competitive Analysis defines the solutions and strategies your competitors are likely to employ in approaching an opportunity. At Richter & Company, we define Price to Win as Cost + Strategy, so it’s pretty difficult to come up with a Price to Win number with only half of an equation. The ideal time to hire consultants (and start your own internal efforts) is early on in the procurement process. Your Competitive Analysis should first cast a wide net, before targeting specific competitors and identifying specific solutions. The Price to Win should also go through multiple iterations for best possible results. Contact Richter & Company today for more on our winning services!
- Evaluating Your Competitors’ Capabilities: Where to Start?
- Profit & Fee Are Good Things, But They’re Not the Only Things
- Total Evaluated Price (TEP) v. Performance: What’s the Difference?
- Winning in the Federal Marketplace: Does the Incumbent Still Have the Advantage?
- Assessing the Competition with a Non-Cost Evaluation Model