Market Research Notes: Definitions & Explanations PDF | Download eBooks
Study Market Research lecture notes PDF with project management definitions and explanation to study “What is Market Research?”. Study market research explanation with project management terms to review project management course for online MBA programs.
Market Research Definition:
Market research includes examination of industry and specific seller capabilities.
A Guide to the Project Management Body of Knowledge by Project Management Institute
Market Research Notes:
In the process of procurement management, some tools and techniques can be used for data collection. One of them is called market research which is most commonly used. Market research, in general, is the act of collecting information regarding a specific topic from relevant sources. In case of procurement, market research can include the study and assessment of specific industry and potential sellers to analyze their capabilities. The potential sources of information for market research for procurement management are conferences, online reviews of sellers etc. It is also possible to refine the objectives related to procurement so that new technologies can be used and get benefited from while managing the risks associated with them and the sellers using those technologies.
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