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Market Research And Strategy Essay

810 words - 4 pages

Abstract

This paper discusses what arrangementsa firm should take to be more competitive in the federal acquisition market.

Market research is the continuous process of scientifically gathering, recording, and examining data about customers, competitors, and market conditions, to support organizations make superior business decisions about the improvement and marketing of new or prevailing products and services.Market research data can be used to figure the acquisition strategy, to decide the type and content of the product explanation or statement of work, to improve the support strategy, the terms and conditions encompassed in the contract, and the assessment factors used for source ...view middle of the document...

Create a set of five (5) best practices specific to your firm for conducting market research.

There are many practices or methods for conducting market research. Like defining responsibilities,identification of the problems,forming the research objectives,setting research project timelines,selection of research design, shaping the data requirements,choosing a research method, collect, analyze and reporting of data. Some of the best practices other than the casual and dictated, which will must to be a part in market research, are getting in touchwith educated persons in government and industry regarding market experiences to meet requirements. Second, analyze the results of recent market research to meet similar requirements with respect to company own products and services. Third, inquiring the government-wide database of agreements and other securedmechanisms, as well as other private and viable databases that provide information related to organization acquisitions. Fourth, locating and attainingfoundation lists of similar items from other contracting events or agencies, trade associations, or other sources. And last, broadcasting formal requests for information on the Federal as well as local Business Opportunities website.

2. Determine what steps the firm could take in the immediate future to be more competitive in the federal acquisition market.

In order for firm to become more competitive in the federal acquisition market, the following has to be done, after all the tenders have been evaluated, the government will then decide whether to grant a deal or not. If a deal or contract has not been awarded the contracting officer will establish a competitive range, which consists of a rank ordering...

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