Certified Contract Management Associate Practice Test

The conduct of market research includes which of the following tasks?

1. Conducting a pre-offer conference

2. Responding to questions from offerors

3. Make or buy assessments

4. Contract type decision

The correct answer is: Conducting a pre-offer conference

Market research is a critical component of effective procurement and contract management, aimed at gathering information about products, services, and potential suppliers to inform decision-making. Conducting a pre-offer conference is an integral task within market research because it involves engaging with potential suppliers and offerors to clarify expectations, share information about the requirements, and foster a better understanding of the market landscape. This interaction can stimulate competition by allowing suppliers to express their capabilities and address any uncertainties regarding the solicitation. The other tasks, while essential in various aspects of procurement, do not directly pertain to the foundational purpose of market research. Responding to questions from offerors is more of an ongoing communication process rather than research. Make or buy assessments involve evaluating whether to produce goods internally or purchase them externally, which is a decision-making process rather than a research task. Similarly, determining contract types is a strategic decision that follows the data-gathering phase of market research but is not part of the research process itself.