When little or no knowledge exists for the desired IT product, service or solution or available supplier resources, market research helps identify:
- Products, services or solutions available in the marketplace to address the business problem.
- Appropriate requirements based on how others have procured similar solutions.
- Realistic cost estimates and schedules.
- Customary practices such as warranty, financing, discounts for the IT product, service or solution.
- Distribution and support capabilities of potential suppliers including alternative arrangements and cost estimates.
- Availability and status of potential supplier sources.
- Lessons learned and implementation pitfalls and/or resolutions.
- The best deals/prices that have been obtained by other customers when acquiring the IT product, service or solution.