An important step in considering whether to bid for a contract is assessing your likely competitors. Comparing your products, services and capabilities can help give you a better understanding of how you compare in the marketplace.

In preparing your bid, consider how your bid will compare to other businesses when viewed by a tender evaluation team. Are there any ways you can favourably differentiate your business from competitors? For example, are your delivery times faster, is your expertise superior or do you have more experience in servicing government accounts?

Competitor Analysis

When assessing your competitors, think about the attributes you share and those that are different with respect to the following:

• Who are their customers?
• What is their experience and expertise?
• What are their capabilities?
• What products or services do they offer?
• Where they are located?

Competition is a normal part of a market-based economy, so to compete in a highly competitive tender process, focus on showing the evaluation team why your business is the stand out option amongst the field of prospective suppliers.

Market Analysis

In addition to reviewing your individual competitors, it’s also important to think about the broader market. For example, think about both current and future market trends and if there are any barriers to entry in the market you operate in. The evolution of the marketplace should not be discounted when assessing your (or your competitors) ability to deliver on a government contract.