Market Research, as defined in Federal Acquisition Regulation (FAR) Part 2, Definitions, is the process of collecting and analyzing information about capabilities within the market to satisfy Agency needs.
To elaborate, market research is a continuous process of gathering data on business and industry trends, characteristics of products and services, suppliers’ capabilities, and related business practices. The data resulting from market research are analyzed and used to make informed decisions about whether Agency needs can be met by commercial products or services. When making such decisions, several factors are considered: The degree to which commercial practices allow the products or services to be customized or tailored to meet Agency needs; terms and conditions, such as warranties, discounts, and customer support, under which commercial sales are made; and the need for users to be educated to meet government guidelines and compliance.
STAHL has a unique ability to research, analyze and define potential market services and supplier distribution and logistical support systems to meet Agency needs. ... Continue Reading