VT-136 market research and sourcing case exercise

Abstract

Market research is essential for Government and private commercial buyers to make qualified decisions in purchasing goods and services. While arguably a necessary component of all acquisition and contracting offices, the understanding, conduct and exercise of sound market research practices is often neglected or omitted as a precursor to effective and efficient market actions. What really is market research? Simply stated, market research is the process utilized to collect, organize, maintain, analyze, and present data for the purpose of maximizing the capabilities, technologies, and competitive forces of the market place to meet an organization's need for supplies and services. Market research is done to optimize the potential for the Federal Government to acquire and utilize commercial items, commercial services, and non-developmental items to meet its needs. Additionally, market research may enhance our capability to elicit greater competition within the market place.