You decide to conduct a research study. With objectives clearly defined you contact three research suppliers to get competitive quotes. All three come back with roughly the same approach to conducting the research. And all three quotes make you choke.
You might think your only choices are to pay the going rate, lower your cost by compromising on the quality of the research or forgetting about the research altogether.
But assuming you are intent on conducting the research as planned, the good news is you can save money by either taking a more active role in completing the research or by negotiating with research suppliers. Here’s how!
Understanding Supplier Pricing
In general, there are two types of research companies. There are full-service research suppliers that provide research planning services, project execution and control and analytical services. And there are field-service suppliers whose primary function is to provide the actual data needed to address the research objectives.
Full-service suppliers will give project specifications to a number of field-services. This includes the type of study they wish to conduct, the anticipated length of the questionnaire, the profile and number of respondents they wish interviewed and the manner in which they want to collect data.
Field-services, in turn, price their data collection services to their full-service supplier clients, who then mark up those services when quoting their price to you. If you become the direct client of the field-service supplier, you will save this markup.
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