WHAT IS MARKET RESEARCH?
A continuous process of collecting and analyzing data on products and services, capabilities, and business practices within the market to satisfy your customer’s needs.
DO I HAVE TO DO MARKET RESEARCH?
Market research is required before: Developing new requirements documents; Soliciting offers expected to exceed $100,000; Soliciting offers expected to be less than $100,000 when adequate information is not available and circumstances justify its cost; and Soliciting offers for acquisitions that could lead to a bundled contract.
IN REAL LIFE WE:
Review the marketplace by looking at ads, magazines, newspapers, yellow pages, television, compare goods at ...view middle of the document...
). Use it to locate capable sources (including preferential programs) that can satisfy our needs. Use it to determine the customary practices and terms and conditions (warranties, financing, and maintenance, and deliveries, etc.). Use it to find any laws or regulations unique to our requirements. Use it to determine the customary practices of customizing, modifying, or tailoring requirements to meet customers’ needs and associated costs. Use it to help state our requirements in terms that enable and encourage companies to provide commercial items or non-developmental items. Use it to shape and support the development of acquisition requirements such as an acquisition plan and acquisition strategies. Use it to craft solicitations (product descriptions, statements of work, and evaluation factors used for source selection) and contracts. Use it to facilitate the preparation of acquisition documentation leading to best-value acquisition decisions. Use it to acquire products or services faster, cheaper, and with better capabilities.
WHO IS RESPONSIBLE FOR PERFORMING MARKET RESEARCH?
Participation will vary based on the organization and types of supplies or services needed. A wide range of people may participate in market research, based on their area of expertise. A team approach may be best since many functional areas may need to be gathered during market research. The team may be composed of: Project Officers, End Users, Technical Specialists, Logistics Specialists, Scientific Researchers, Testing Specialists, Cost Analysts, Legal Counsel, Contract Specialists, and Contracting Officers. Conserve energy and time by making sure the individual responsible for the operational requirement is on the team.
WHAT ARE SOME OF THE TECHNIQUES OF CONDUCTING MARKET RESEARCH?
Reading trade journals. Φ Contacting knowledgeable people (Government and industry) in specific markets. Φ Contacting contracting officers, contract specialists, and project officers in other federal agencies and private industry (other users). Take advantage of the lessons that these individuals have learned in previous acquisitions. Φ Contacting known sources of supplies or services. Reviewing market surveys prepared by companies. Doing market surveys to obtain information from potential sources. Φ Contacting Government research laboratories and centers managing basic research. Conducting site visits. Attending trade shows, conferences, and symposia. Querying Government databases (FPDS, PPIRS, CPS, GSA, FedBizOpps, SBA databases, e-Portals in Commerce (e-PIC), etc.) that provide relevant information on acquisitions.
Using Internet tools and performing Web searches. Reviewing the Yellow pages. Reviewing results of recent market research on similar or identical requirements. Publishing formal requests for information, sources sought synopses, draft statements of work and solicitations in appropriate technical or scientific journals, business publications, and/or in FedBizOpps....