Within the planning of a project, all the necessary resources must be considered, be they human, time and economic. Today we will talk about the latter since they are a critical condition to carry out a successful Market Study. As a general rule, interested parties will seek to optimize resources and obtain the best result from them.
Knowing the types of budget that exist in the environment allows us to identify which one is best for each particular case. For this reason, we have listed some of the most widely used types of quotes in the industry and their main characteristics.
Ad hoc or custom. Perhaps it is the most common and elementary type. These proposals are unique to each application. They usually require detailed knowledge of the project requirements to best adjust the costs to be presented. This type of approach is recommended when the topic of the study is too complex. When there is not much background on similar studies, it is also worth considering this type of listing.
Per unit. On some occasions, a project may consider units of measurement as a basic element of the price. It is widely used in qualitative studies and with very limited scope given the complexity of certain profiles. In this way, complex administrative readjustments are avoided and changes between the initial proposal and what is actually achieved in the field are contemplated; be the latter lower or higher than the initial target. A very clear example of this type of budget occurs with recruitment and incentives.
Tabular or consolidated. When considering the performance of constant and regular studies over a considerable period of time, it is possible to quote using tabulars. These costs usually average the largest number of variables possible since it does not consider atypical events. Its use should be reserved for situations with high activity and wide dispersion to avoid biases that make the expenses contemplated under the scenarios with which the price table was originally devised unrealistic. Although these types of budgets can be modified, these changes are limited to a few events in a given unit of time.
Providing a quote request to the supplier with as much detail as possible will allow it to offer the most competitive cost and closest to reality. Otherwise, it will be necessary to make adjustments in the middle of execution protocols with their inherent delays and cost overruns. For this reason, it is worth considering which type of quote we should request in each case.
At Acertiva we have almost 20 years of experience in Market Research in Latin America. Our experts and strategic allies in education, pharmaceuticals and consumer goods are ready to help you write your next success story. Write us today.
Short Link: