CLC 004 -Market Research Questions with 100% Correct Answers.

Which three of the following choices represent primary reasons for performing market research? Correct Answer - Obtain data that provides information to support the development of acquisition requirements and strategies. - Satisfy federal mandates for assessing the commercial marketplace. - Investigate way to restrict the requirements definition. X - Define and document support strategies and plans. What best describes strategic market research? Correct Answer A process for developing and sustaining a knowledge base of relevant products, services, and technologies. The following type of information is LEAST useful for evaluating the range of products that may meet your requirement: Correct Answer A supplier's evaluation of the capabilities of his/her competitors. Which of the following three choices are true regarding documentation of your market research? Correct Answer - You results should be thoroughly documented so that you can have a ready source of information for follow-on and related procurements. -Market researchers from other government organizations may contact you for information if they are working a similar requirement for their agencies. - The documentations may assist acquisition professionals who may follow in your footsteps and who will need a trail of documentation to assist them with their own market research efforts. - FAR 10 requires that documentation be as brief as possible to avoid unnecessary complication of your organization's requirement. X