Grading used when procuring
commodities that are traded regularly on the
commodity exchange, such as lumber, steel,
food products, and fuel. Grading determines
the quality level of the commodities. Trade
associations, commodity exchanges, and
government entities are sources of market
Collecting and analyzing
information about capabilities within the
market to satisfy agency needs. The results of
market research are used to arrive at the
most suitable approach to acquiring,
distributing, and supporting goods and
A marketing term for the
division of prospective buyers or a targeted
market into more approachable groups with
common characteristics, traits, or needs.
The portion of a market for a good
or service controlled by a specific seller.
The amount of a good or service
that producers are willing and able to sell at
different prices over a specific period of time.
An attempt to determine whether
there are qualified sources capable of
satisfying the specific requirements for
supplies, services, or construction. May range
from written or telephone contacts with
knowledgeable experts regarding similar
requirements, to consultation with technical
or scientific journals, to solicitation for
information or planning purposes only.
A service contracting technique
that refers to the use of public-private competition to compare or benchmark inhouse
service delivery approaches and costs
against the private sector. (Ferrell and Hirt
The price that a product, service,
or property might be expected to bring if
offered for sale in a fair market (i.e., one that
is not prone to fluctuations).
A pricing strategy that sets
the value of a product from the market
perspective and is based on supply and
Price setting that occurs
when prices are defined according to the
range of the quality of the product or service
provided by the supplier.