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Chapter 11 - IT Procurement Planning and Strategic Sourcing

11.5 Market research

11.5.1 The purpose of market research

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 a similar IT product, service or solution.