A buying guide for Primary Market Research category – enriched with research on Primary Market Research procurement spend patterns, Primary Market Research pricing intelligence, market dynamics and top suppliers of Primary Market Research.
GET FREE SAMPLEEcosystem of the global Primary Market Research category is intertwined with the larger parent market of Market Research. Our category definition describes that overall Market Research market includes all spend related to procurement of third-party market research services as well as cost incurred for in-house market research activities.
Several macro changes in the dynamics of overall Market Research as well as Primary Market Research procurement trends are poised to change the business practices and procurement thumb rules. Proliferation of supply pool in regions such as APAC is expected to intensify supply market competition. This will compel service providers to compete on price points to attract new buyers, which is expected to offset some of the increase in procurement cost arising out of increasing supplier OPEX. New locations and vendors are emerging as cost effective suppliers of Primary Market Research, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers. Data security and maintaining the confidentiality of client data and other sensitive information has towered over most of the discussions related to the category. Most geographies now have stringent regulations to protect data, privacy and confidentiality. Although suppliers now have a value proposition that puts data security and confidentiality at the forefront of marketing pitches, adherence to these standards have also increased OPEX of suppliers owing to increased compliance methods and requirement to change critical processes. Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.
Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Primary Market Research procurement insights and hand picks best practices that can work for category managers delving in this market. 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 optimize the costs by arriving at right sourcing mix through an alignment of in-house capabilities with outsourced functions. Buyers can use in-house capabilities for project-specific requirements that can be resolved internally. Third-party providers should be engaged based on their expertise and project-specific requirements that require capabilities not present in the buyers' organization. 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.
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Primary Market Research procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Primary Market Research procurement. Some examples include:
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The report is intended to serve as a one-stop reference guide for Primary Market Research 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 “Primary Market Research: Procurement Report 101” as well as for category experts actively tracking the global Primary Market Research procurement market.
You may have just initiated your research to design a winning Primary Market Research 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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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 Primary Market Research 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:
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The Primary Market Research 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.
A key highlight of this report is the in-depth outlook created on Primary Market Research procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Primary Market Research. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Primary Market Research 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.
Additionally, the report also advises on the best practices and strategies to manage the Primary Market Research 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.
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?”
SpendEdge presents a detailed picture of Primary Market Research 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.
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