How to Select a Market Research Supplier.

• Position: Brief Article

Here are some things to consider.

Develop a list of potential suppliers to bid on the research. Some companies may already have a list of approved vendors for research services, or you may need to develop your own list. Business directories and Web searches are useful sources for finding companies if this is your first marketing research effort. Ask your colleagues about companies they have worked with and their experiences. See if there are suppliers that offer discounts to association members.

Request information on the company's background and industry experience. How many years has the company been in business? What percentage of their work is in the financial services industry? If it is a local company, take the opportunity to visit the supplier's facilities,

Identify your point of contact at the supplier organization. Who will be your main contact and what are his/her qualifications?

Inquire about the use of subcontractors. Will the supplier's employees do the work or will portions be...