Detailed federal government market research on individual niches is a key requirement for success.
by Dave Alexander, Lincoln Strategies, LLC
Abstract of this article
Times are tough in the federal government market. Federal spending is barely growing (in real terms) in most segments and is falling in some. The firms that continue to thrive in the federal arena – or even expand their share as weaker players exit – do so in part by developing more granular approaches to the market. They develop strategies, and use marketing targets and tactics that are sensitive to differences in each niche of the market in which they have an interest.
For each such segment of the market, these firms typically can answer questions such as the following:
- What is being procured?
- Who is buying?
- How are agencies buying?
- From whom are they buying?
- What are the agencies’ buying preferences?
There has been a steady advance in the breadth, accuracy, and accessibility of federal procurement data. The primary acquisition database – the Federal Procurement Data System (FPDS) – has become more robust. More types of data are contained in the system than ever before, in part due to new data reporting requirements.
The increased amount and quality of federal acquisition data recently has become much easier to access. Relatively new systems, such as USASpending.gov, feature easy-to-use and powerful data query tools. This makes it easier than ever before to perform federal government market research.
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