Telephone Market Research Services | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Telephone Market Research Services Procurement

Overview

Several macro changes in the dynamics of overall Market Research as well as Telephone Market Research Services procurement trends are poised to change the business practices and procurement thumb rules. New locations and vendors are emerging as cost effective suppliers of Telephone Market Research Services, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

There are only a handful of \"Tier 1\" vendors in the Telephone Market Research Services market and they have traditionally enjoyed a premium in their pricing. However, Tier 2 suppliers are giving them a tough competition now as they can provide similar services at a lower cost. Many tier 2 suppliers achieve this parity by finding right talent at a relatively lower cost and maintaining lean operations without any frills.

The market is rapidly showing signs of a great divide - at one extreme is a low-cost market with almost commoditized services and at the other end is the market for high cost specialized services. Telephone Market Research Services vendors are adopting starkly different business models and cost structures to address both the markets.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

Telephone Market Research Services Procurement Best Practices

Telephone Market Research Services procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with Telephone Market Research Services procurement strategy.

For example, Buyers should specify a mechanism for agreeing to and recording changes in services provided by the interacting parties, usually buyers and service providers.

Buyers can engage in pilot projects with interested service providers to assess their capabilities. This also helps buyers to assess the cost benefits and value proposition of the proposal.

Adequate RFP response time should be built in for prospective suppliers to enable them understand the scope and performance requirements.

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Risks in Telephone Market Research Services procurement

Telephone Market Research Services procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Telephone Market Research Services procurement. Some examples include:

Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
Legal risks arise when the methods used violate a law of the land. Such risks lead to financial loss to the service provider as they pay huge penalties. It also leads to significant reputational damage to the service providers, thereby leading to a potential reduction in their client base
Poor project planning is one of the major risks faced in the category. Delay in activities that build the foundations of the project, reliability of information, and improper allocation of resources results in inaccurate outcomes. Therefore, this hampers the service providers' ability to offer improved services to their buyers

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Who should read this report

The report is intended to serve as a one-stop reference guide for Telephone Market Research Services procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Telephone Market Research Services: Procurement Report 101” as well as for category experts actively tracking the global Telephone Market Research Services procurement market.

You may have just initiated your research to design a winning Telephone Market Research Services procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

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Key questions on Telephone Market Research Services procurement answered by this report

Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!

The Telephone Market Research Services procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:

What is the spend potential in the Telephone Market Research Services market?
What is the correct price to pay for Telephone Market Research Services? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Telephone Market Research Services Suppliers Market?
Who are the top Telephone Market Research Services suppliers? What are their cost structures?
Which negotiation levers can reduce Telephone Market Research Services procurement cost ?
What are supplier margins in Telephone Market Research Services market?
What are the best practices for Telephone Market Research Services procurement and what are the potential risks?

SpendEdge Insights has helped procurement professionals and sourcing teams manage multiple spend areas and achieve more than $2 billion in savings. Activate your free account today!

Telephone Market Research Services Category Insights: What is inside

The Telephone Market Research Services market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.

Data

A key highlight of this report is the in-depth outlook created on Telephone Market Research Services procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Telephone Market Research Services. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.

Insights

Along with specific category and supplier intelligence, the publication also includes curated insights on Telephone Market Research Services market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.

Advisory

Additionally, the report also advises on the best practices and strategies to manage the Telephone Market Research Services category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.

Category Ecosystem

Buyer and supplier ecosystem
Competitiveness index
Buyer and supplier power
Threat of new entrants and substitutes

Global and Regional Sourcing Insights

Category spend
Spend growth
Dynamics
Opportunities

Pricing and Cost Analysis

Pricing outlook and data
Drivers of pricing
Cost structure and inputs cost
Total cost of ownership
Pricing models and margins

Cost Saving Opportunities & Negotiation Strategies

Buyer and supplier side levers
Quantified cost saving opportunities
Negotiation strategies and quantified outcome

Procurement Best Practices, Strategy and Enablers

Procurement excellence
Sustainability and innovation
KPIs and category enablers
Risk management and outsourcing

Vendor Analysis

RFx essentials and selection criteria
SLAs
Supplier evaluation metrics
Detailed supplier profiles

Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”

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Category Research Framework

SpendEdge presents a detailed picture of Telephone Market Research Services procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.