During which stage might 'reverse marketing' be necessary?

Reverse marketing is a technique that is typically used during the pre-procurement market test and market engagement stage. This stage is crucial for establishing a better understanding of the market landscape and identifying potential suppliers who can meet the organization's needs.

At this point in the procurement process, organizations often actively reach out to suppliers not only to showcase their requirements but also to gauge supplier interest, capabilities, and innovations. Reverse marketing allows procurement professionals to encourage suppliers to present their solutions and products proactively, rather than waiting for suppliers to respond to tenders or requests for proposals. This proactive engagement can help in building relationships, understanding industry dynamics, and ultimately sourcing the best options available in the market.

By employing reverse marketing techniques during this stage, organizations can effectively communicate their needs while also being receptive to innovative approaches suppliers may propose, leading to a more informed and competitive sourcing strategy.