What is meant by 'Market Research' in acquisition planning?

Market research in acquisition planning refers to the process of collecting information on products and services available in the market to inform decision-making. This involves analyzing various aspects such as capabilities, prices, and technological advancements, which can help the acquisition team understand the options available and make informed decisions about how to meet the needs of the Army.

By conducting thorough market research, acquisition planners can identify potential suppliers, assess the competitive landscape, and determine how to best fulfill requirements with available resources. This proactive approach allows for better alignment of procurement strategies with current market conditions, which ultimately leads to more successful acquisition outcomes. Understanding the capabilities and limitations of products or services in the market is essential for effective acquisition planning, ensuring that the Army can acquire what it needs efficiently and effectively.