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The Market Paradigms

Excerpt

Engineering consultancy firms which nurtured in a cozy environment with guaranteed business sometime back, are facing new business realities. The era of awarding contracts on nomination or cost plus basis is over. Today they are operating in an ever more complex environment with constantly changing buyer’s market having stiff sales bottlenecks, wafer thin margins, from monopoly to market driven competition having presence of serious rivals, from budgetary support to self reliance, from cost plus approach to a market administered pricing, from quantity push approach to quality and timely delivery, from short term transaction to long term relationship, from life long technologies to fast changing technologies, emergence of new market players with comparable professional and technical competence, etc. Gone are the days when clients could be herded towards the services that were on offer as opposed to giving them/ providing them customized solutions what they needed.

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