(FAR part 10)
Market research is the process of gathering, recording, and analyzing information about vendors and commercial products in the commercial marketplace. Correctly done, market research provides information on the range of commercial supplies or services available. It also helps determine whether full and open competition for an acquisition is feasible.
Federal agencies often overlook market research when developing contracts. Acquisition audit reports have found that market research documentation is not always included in contract files and that market research is infrequently performed for acquisitions made through interagency contracting.
Market research is a basic contracting fundamental. It must be performed ...