What are commissioned reports? What are are the advantages and disadvantages of a commissioned report?

What will be an ideal response?

If a market is unusual and the information is not available from sources such as available published reports and the
Internet, then a custom market research study can be commissioned from a specialty market research company.
Such specialty research companies often focus on one particular industry, or industry niche, and can be very
knowledgeable about their area.
The advantage of this approach is that the data is highly relevant. The approach has two disadvantages. The first is
speed—research firms often take weeks to collect data. The other disadvantage is cost. Custom reports usually
require research on a niche topic. With the significant labor associated with that task, such a bespoke report can be
very expensive, often costing tens of thousands of dollars.