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Keeping track of your competition and the state of your industry is an integral part of operating any business. Traditionally, that information has been termed "market intelligence." In recent years, however, the practice of collecting market intelligence has expanded to include analysis and analytics that can help you improve your business model and projections.
At its core, market intelligence uses multiple sources of information to create a broad picture of the company's existing market, customers, problems, competition, and growth potential for new products and services. Sources of raw data for that analysis include sales logs, surveys and social media, among many others.
Robert Isenhart, CEO of the business consultancy group Mission Insight, says "it is both easy & extremely affordable for small companies to get started with a common-sense Market Intelligence approach. The cost of NOT deploying a Market Intelligence capability is a far larger cost to business then the cost of Market Intelligence implementation."
Successful market intelligence answers concrete questions about current and potential customers and competitors, and helps the company determine internal strategies & goals. Questions that market intelligence can address include:
While there is no set plan for how companies should gather market intelligence, many do so by performing various forms of high-level analysis.
Mission Insight is best positioned to provide that high-level analysis and then the required improvement initiatives to secure a competitive position that is both actionable & maintainable.
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The 'War Game' is a well-known and proven process to support 'intel' capture efforts to determine a winning strategy.
This process starts with extensive preliminary research & 'INSIGHT' to provide an understanding of one or more likely or confirmed competitors.
MISSION INSIGHT with our team of battle proven Veterans, takes this process several steps further by using a collaborative 'military-like' team process to anticipate and better understand probable opposing win strategies.
Without fail, War Game sessions improve visibility into possibilities for competitive strategies to own their market landscape.
Success in the federal market isn’t what it used to be. Federal contracts have became more competitive. What was once plentiful is no longer. Change is the new norm. NEW TIMES require NEW STRATEGIES.
Success – will be achieved through well-developed strategies that are driven by INSIGHT based on thoughtful and thorough market research and analysis, effective competitive intelligence, creative communications, and, above all, highlighting on what you do best, your unique selling proposition.
Understanding the federal market requires knowledge of ever-changing policies, contracting trends, risks, and a unique set of barriers to entry. The federal market is just too big to grasp alone. MISSION INSIGHT can be your partner to help you navigate the Federal Contracting waters.