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Market Research
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
services.
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Market Segmentation
A marketing term for the
division of prospective buyers or a targeted
market into more approachable groups with
common characteristics, traits, or needs.
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Market Share
The portion of a market for a good
or service controlled by a specific seller.
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Market Supply
The amount of a good or service
that producers are willing and able to sell at
different prices over a specific period of time.
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Market Survey
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.
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Market Testing
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
2002)
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Market Value
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).
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Market-Based Pricing
A pricing strategy that sets
the value of a product from the market
perspective and is based on supply and
demand.
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Market-Oriented Pricing
Price setting that occurs
when prices are defined according to the
range of the quality of the product or service
provided by the supplier.
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Marketing
The action of promoting and selling a
good or service, which includes market
research and advertising.
