Government to Consumer Markets Key Terms

Get to know key terms that facilitate government to consumer markets transactions

By Michele Vrouvas

Private sector businessmen have known for years just how profitable it can be to tap into government to consumer markets opportunities. Government agencies always seem to be cooking up another special project that’s going to require them to solicit bids on goods and services from private industry. Governments also provide a number of grants that assist individuals in launching new businesses or in building up their existing business. Knowing a few key terms about government to consumer markets can help you spot these highly desirable opportunities:

Free government grants

Knowing this government to consumer market key term can help you avoid getting scammed by an unreputable Internet advertiser. When you see an ad for "free government grants", that's your first indication that the advertiser is trying to reel you into an agreement that's more profitable for the advertiser than for you. As the name implies, government grants are always free and are awarded by the government in exchange for your promise to provide goods or services.
Try: U.S. Government Grants reveals the truth behind the “free government grants” scams circulating on the Internet.

Sources sought notice

You'll see synopses of sources sought notices on websites posting ads from governmental agencies. While you shouldn't consider these notices as work solicitations, you should regard them as notices that an agency is scouting around for resources it might need for special projects.
Try: Fed Biz Opps explains how to search for sources sought notices on government to consumer websites.

Treasury auctions

The United States Treasury Department sells marketable securities through treasury auctions events. Not only do these auctions allow the securities to be sold and transferred, but they also allow the U.S. Treasury to calculate the current return yield of these commodities.
Try: Treasury Direct can take you through the entire process treasury auctions follow, from the announcements in major media outlets that the securities are available, through the bidding cycle and to the time they are actually issued.

Consumer markets

Though many in the business world use the term consumer markets in everyday conversations, few might be able to offer a precise definition of the term. Consumer markets refers to the buying and selling of a large variety of consumer goods and services that are purchased by individuals for personal use.
Try: ICIC-Boston teaches how consumer markets are one of the three major markets and explains how they are different from commercial and government markets.

Consumer market research

Government to consumer markets expertise depends on your understanding of consumer market research trends. These trends identify the characteristics of consumers who purchase certain items for personal use. Consumer market researchers collect the data on a case-by-case basis, usually through customer surveys.
Try: Cornell University teaches about the primary and secondary research sources for effective consumer market research.

E-government collaborative systems

Some large corporations are engaging in e-government collaborative systems that optimize private industry's transactions with government agencies. The current thinking is that these systems will offer an "open commerce platform" for government to consumer exchanges.
Try: WITS2001 explains how e-government collaborative systems are facilitating the buying, selling and transferring of goods and services between government agencies and private vendors.