Rfp template for market research

The entire project flows from an understanding of the information needed and the decisions that will be made based on the research results. Whether you write a formal market research RFP or take a more informal approach, it is always useful to articulate your objectives and outcomes in writing.

As the research buyer, your time is best used to develop an overview of the needs driving the research, high-level questions that the study should answer, and how the results will be applied in your organization. This information is not only critical to share with potential market research partners, the process also helps internal stakeholders reach a shared understanding of goals and outcomes.

Articulating the project goals also helps make the case to fund the project: Budget holders are more likely to invest in research when goals and outcomes are well-articulated. In fact, a summary works as a good launch pad for discussion with prospective partners. Most market research buyers are familiar with standard methodologies such as focus groups, in-depth interviews or survey research.

It is therefore tempting to prescribe the methodology and research design for vendors to quote on. While it may seem efficient to tell vendors exactly what you want, there are a couple of problems with it. Your ultimate goal is to gain insights that answer a central question and facilitate a business decision.

The research methodology is just the tool to get there. We will gather information from industry reports, online interactions, social media metrics, and in-person research to generate accurate and useful data. To reach younger members of your target demographic, we propose offering digital engagement tools including livestream question-and-answer sessions and a dedicated social media page on which they can submit feedback.

We can also set up a project-specific website to conduct user engagement. Our tools allow us to see the IP addresses of each user, so we exclude fake or irrelevant responses. Our project manager will keep in touch with [Client Company] regularly throughout the project.

We will conduct weekly progress meetings via phone or video conferencing. At these meetings, we will discuss completed tasks, gather any outstanding data, and discuss the next steps in the process. Written reports will be provided at the end of each task detailing the research methodology and the outcomes of each phase of the project. At the end of the project, a detailed report will be submitted containing a summary of the project and detailed results.

We will submit the draft report to your project manager in Google Docs for any edits. Once the project is completed, we can present the report to your internal project team so they can best understand the results.

Based on our call with [First Name] at [Client Company] , we know that you would like this study to be completed by the end of September.

Since you plan on using the results to develop your marketing budget for the next fiscal year, we will complete your project within your desired time frame. The following timeline details data collection times, the specific period of research analysis and the date of final deliverables.

Each participant will be told that their participation in this research is voluntary, and they will be told how we plan on using their data. We will provide them with a form explaining this information and assuring them that their data will remain confidential. Each participant will sign a form stating that they understand these terms. To protect each participant, we will not collect any personal data other than standard demographic information that can be used to inform the study.

If any additional data is collected, we will not sell this information to a third party or use it in any other research studies. It will be collected solely for the purposes of this market research project. This market research study will give [Client Company] a better understanding of your target market.

It will provide insight into what your clients expect from your new product and how to best market it to members of your target demographic. The study may also highlight other data including existing brand awareness and brand perceptions you can use to further tailor your ads. Our company was founded by market research experts with [XX] years of experience conducting similar studies. We use proven methodologies to collect data and distill it into easily digestible reports.

We encourage our employees to stay up-to-date on the latest research techniques and analysis software. Bio — [Project Manager Name] has [XX] years of experience managing research studies for clients in many industries. She is a well-known speaker at industry conferences and is well versed in the latest data analytics software.

He will assist with data collection and analysis and provide technical support for all online components of this research study. Building a professional and comprehensive template makes the process easier on both the client-side and agency-side of the equation. Below is a marketing agency request for proposal template that will get you started.

It is created in Microsoft Word, making it easy to edit. There are a few different ways to approach an RFP. Poorly created ones focus exclusively on the project that the client wants.