One of the most difficult areas to gather information is about the competition. You can get all of the product information you need from your marketing manager or sales engineers. You create customer information by asking open ended probing questions which specify the need for your product or service. There is no doubt that you need to dig for that information, but it s easier to find than you think. Sales people often have the tendency to become internally focused.
Customers have a very different focus.
Customers concentrate on obtaining a solution that delivers value for either themselves or their company. They are buying solutions that increase production, decrease costs and increase profits. In a rapid paced, technological world, they are making more decisions that have larger impacts, more frequently on their businesses. You have worked hard and landed a major new account only to hear the devastating news several days later that the customer has canceled. In a major account situation, the sales rep should spend as much time as needed to recover the lost business or until the customer has clearly indicated the order is absolutely going to the competition.