Market Research is detailed in which section of the FAR?

Market Research is detailed in FAR Part 10. This section outlines the necessity for conducting market research as a fundamental strategy in the acquisition process. The purpose of market research is to gain a thorough understanding of the market's capabilities, products, services, and industry trends that relate to the procurement needs of the government. This helps in making informed decisions and ensuring that the government achieves the best value when making purchases.

FAR Part 10 includes guidelines on how agencies should carry out market research and emphasizes its critical role in promoting competition and discovering new suppliers. This part provides specific methods for conducting market research, such as utilizing industry sources, conducting surveys, and engaging in outreach efforts.

Other parts mentioned, such as FAR Part 1, primarily cover general acquisition regulations; FAR Part 2 defines key terms used throughout the FAR; and FAR Part 4 deals with administrative matters including contract management and recordkeeping, but they do not specifically address market research as thoroughly as FAR Part 10. Thus, Part 10 stands out as the dedicated section focusing on the processes and strategies for effective market research in federal acquisitions.