TAILIEUCHUNG - Writing a Market Research RFP: Great RFPs, Great Research

Do you want a market research (MR) project that precisely meets your goals? Then you need a precise Request For Proposal (RFP). The RFP is necessary to document your research needs and expectations. It also gives you an opportunity to ask for free advice. Do exceptions exist? Do some clients successfully hire agencies without a formal RFP? Sure, but it is risky. Unless you have a long-standing relationship with a market research agency, the RFP process is your lowest-risk path to research excellence. It mitigates a lot of risks and ultimately will save you a lot of time and money | BEST PRACTICES February 2009 Create a MR RFP with confidence Writing a Market Research RFP Great RFPs Great Research By Kathryn Korostoff 2009 BY RESEARCH ROCKSTAR LLC research BOCKSTMB Iinovo I MU Copyright holder is licensing this under the Creative Commons License Attribution . http licenses by us Feel free to share this eBook with your friends and colleagues or to post it on your blog. Please send any comments or feedback to publishing@. NOTICE Neither the author nor the publisher is in the business of rendering legal or accounting advice. If such advice is desired proper experts should be sought. GREAT RFPS GREAT RESEARCH Writing a Market Research RFP Great RFPs Great Research Introduction Do you want a market research MR project that precisely meets your goals Then you need a precise Request For Proposal RFP . The RFP is necessary to document your research needs and expectations. It also gives you an opportunity to ask for free advice. Do exceptions exist Do some clients successfully hire agencies without a formal RFP Sure but it is risky. Unless you have a long-standing relationship with a market research agency the RFP process is your lowest-risk path to research excellence. It mitigates a lot of risks and ultimately will save you a lot of time and money. But I Don t Have Time to Write an RFP Taking the time to write an RFP can be problematic but it is a worthwhile investment for any project over 25 000 and in the world of custom primary MR that s most of them . If you don t write an RFP you will waste much more time on things like the following 1. Trying to compare proposals from different agencies that are based on entirely different assumptions. When all the proposals are based on the same specifications from the same RFP comparing them is much easier. 2. Issuing an RFP later because none of the proposals met your expectations. You then have wasted one or two

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