Market Research Agency Strategic Sourcing

Market Research Agency Strategic Sourcing Services

Corcentric’s Market Research Agency Strategic Sourcing makes it possible to partner with the right firm and gain access to industry intelligence your company needs to make well-informed business decisions

Market research is an essential activity for any organization – influencing the strategies and actions of numerous departments within an organization, such as Sales, Marketing, R&D, and more. However, conducting and understanding the information acquired can be a sizable task requiring expertise in the market research category.

Partnering with the right market research agency means unlocking potential for your organization, gaining insights into opportunities for new growth in the form of new demographics and markets that can be used to develop concrete business strategies backed by data. These agencies are able to provide various and detailed research tasks, including but not limited to: Primary Research (focus groups and interviews, survey and polls), Secondary Research (reviewing published sources and databases and identifying relevant publications), and Data Acquisition (data mining and compiling and interpreting data sets).

Industry leaders know that market research agencies must have the right mix of capabilities and the ability to:

• Understand your organization’s core business and service offering
• Experience working in your industry and/or understand the associated challenges and market
• Possess expertise in conducting primary research, including focus groups, interviews, and other tactics
• Access to various secondary research sources and publications
• Understand data mining and interpreting large data sets for meaningful insights
• Provide a variety of services to fit different budgets
• Stay current on technological, industry, and regulatory trends

Corcentric understands the level of involvement a market research agency has in your organization, making the selection process a daunting task with various requirements and constraints. We have the expertise and experience to simplify the selection process. We’ll begin by thoroughly identifying your research needs, including the various departments and areas of your organization requiring services. Our experts will evaluate existing research agency relationships and contracts to gain a clear view of your current state. Next, we’ll establish a clear scope of work, detailing your organization’s current and future research needs.

Our marketing sourcing experts will collaborate with your team to ensure that you are able to acquire the desired market intelligence within your market research budget. Corcentric’s customized go-to-market strategy means our analysts do all the heavy lifting so you don’t have to, including:

• Developing and executing a Request for Proposal specific to your organization’s marketing research agency requirements and other qualitative needs such as industry/ product category expertise and access to various data sources
• Evaluating each supplier response and scorecard proposals, and determining a finalist based on a set selection criteria
• Negotiating pricing structure and contract terms based on market intelligence
• Establishing a transparent compensation structure outlining hourly rates, markups on materials, and other expenses
• Implementing contracts and ensure service levels and overall client expectations are met

Our sourcing professionals understand the integral role a market research agency plays in all aspects of your business. Corcentric can help ensure you choose the right market research agency that meets your research and market intelligence requirements.

Contact our Market Research Procurement experts today to learn more about how our strategic sourcing services can help you find the right market research agency.