Discussion 2 Week 5 Market Research - Assignment Example

Market Research: Discussion 2 Week 5 al Affiliation Market Research: Discussion 2 Week 5 Take a position on whether a government agency should be allowed extensive leeway in determining the methodology used to develop a market research plan in the acquisition and distribution of supplies and services. Provide a specific example of government spending that would support your position. A government agency should be allowed extensive leeway in determining the methodology used to develop a market research plan in acquisition and distribution of supplies and services for the reason that the agency is in the most competent position to determine how its needs would be served through the results that would be generated from the research.

For instance, a government agency, CDC plans to purchase a medical equipment which would address health needs of a population at risk in a certain state. As such, it is in the most appropriate capacity, in terms of knowledge, resources, and skills to discern the best research methodology to use in justifying that purchasing the equipment would benefit the identified population and achieve health standards and goals of the federal government. 2. Analyze the importance and explain the value of a market research plan in the acquisition and distribution of supplies and services.

Support your position with examples. Explain which aspect of the market research plan is likely to be the most valuable for those seeking to acquire a company.A market research plan enables the government agency to identify in a more in-depth presentation and structure, their needs in the acquisition and distribution of supplies and services; as well as the manner within which these identified needs are to be satisfied through the results generated from the research. As emphasized, “agencies use the results of market research to determine if sources are available to meet their needs, especially any sources providing commercial or nondevelopmental items” (OConnor, 2007, p. 174). The market research plan is revealed to have no prescribed format; but should contain, at least, the following aspects: “explanation of the acquisition’s background and purpose; description of the agency’s minimum needs, in terms of function and performance; desired schedule of delivery; list of small business and other sources who were contacted, including the methodology used for compiling and refining the list of potential vendors; discussion of customary commercial practices; identification of price ranges discovered; and a description of available commercial or non‐developmental items” (U.S. Small Business Administration; Office of Government Contracting & Business Development, 2012, p. 7). O’Connor (2007) simplified the required aspects to be incorporated in market research to include the following: “type of source that can satisfy the requirement (commercial v.

noncommercial); the requirements of any laws or regulations unique to the item being procured; and the size and status of potential sources” (p. 174). For an agency seeking to acquire a company, the aspects of market research plan that are deemed to be most important are the description of the agent’s needs and the justification for acquiring a company through a cost-benefits analysis. The identification of needs is paramount since it provides the information for requiring external sources which would satisfy the need.

In addition, the market research plan would stipulate the extensiveness of options that were considered in serving the identified need, in terms of costs and benefits, as well as other pertinent factors that need to be considered to achieve the defined goals.ReferencesOConnor, T. (2007). Understanding Government Contract Law. Management Concepts, Inc.U.S. Small Business Administration; Office of Government Contracting & Business Development. (2012, July). Market Research: A Guide for Contracting officers.

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