At what points during the acquisition process is Tactical Market Research conducted?

Tactical Market Research is an essential component of the acquisition process that helps organizations gain insights into various aspects, including market conditions, potential suppliers, and innovative solutions. Conducting this research at specific points during the acquisition process allows teams to gather valuable information that influences key decisions and strategies tailored to the needs of the acquisition.

Conducting Tactical Market Research at defined stages enables teams to align their objectives with market realities, ensuring they remain responsive to changes and can assess potential risks and opportunities. By integrating this research at critical junctures, organizations can enhance their decision-making capabilities, improve their strategy formulation, and ultimately achieve more effective procurement outcomes.

This approach stands in contrast to conducting research only at the beginning, which may not capture the evolving market dynamics throughout the acquisition process, and doing it continuously, which could be inefficient and resource-intensive. Similarly, restricting the research to whenever resources allow may lead to missed opportunities or insufficient preparation, as it lacks the strategic alignment that targeted research offers at specific stages.