What is the process called to determine if industry can support the acquisition needs of the Government?

Market research is the process that involves systematically gathering, analyzing, and interpreting information about a market, including information about the industry, potential suppliers, and the capabilities of the market to meet the acquisition needs of the Government. This process enables the Government to assess whether there are sufficient suppliers capable of delivering the required goods and services, thereby ensuring that the acquisition strategy aligns with market capabilities.

Through market research, contracting officials can identify the competition level, understand pricing structures, and recognize any potential barriers for entry that might affect supply. It serves as a foundational step in the procurement process, allowing for informed decision-making regarding sourcing strategies, which is crucial for effective and efficient contract management.

The other options—competitive bidding, needs assessment, and industry analysis—although related to the contracting process, do not specifically focus on evaluating the market's capacity to fulfill the Government's acquisition needs in the same systematic way that market research does. Competitive bidding refers to the process of inviting suppliers to submit proposals, needs assessment involves identifying and defining requirements, and industry analysis is broader, focusing on trends and dynamics within an industry rather than directly assessing supplier capability in relation to specific Government needs.