Assessing Vendors

Phase 1

Preliminary Research

1.1 Preliminary Research

1.1.1 Identifying Vendorspaces

1.1.2 Identifying Candidates

1.1.3 Building Criteria

1.1 Preliminary Research

1.1.1 Identifying Vendorspaces

Vendors tend to create spaces for themselves in markets. This makes it easier for prospects to find them, but it also restricts the way in which you think about them. A vendor solidly branded in one “vendorspace” is less likely to be considered outside of it, regardless of how well they may fit other needs. This is made worse by analysis firms who like to say things such as “Vendor X should pick a market and dominate it instead of trying to be everything to everybody.” So, while vendorspaces can be very useful in identifying candidates, keep in mind ...