Purchasing and purchasing decision making.
Generally speaking, purchasing illustrates a rather delicate balance of determining needs, finding the proper solution, and evaluating the internal and external organizational impact. The Five stage model theorizes that five predetermined steps occur during this process, including problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. The underlying assumption is that by understanding those steps, marketers acquire a better insight into purchasers and end users, which in turn may assist in devising a more effective marketing campaign.
World Consulting Group’s process is slightly more customized to fit the organizational philosophy and mission. The most significant customization of the five-stage model at World Consulting Group is determining any given problem. At World Consulting Group, this process is an ongoing standard operating procedure in which needs are determined and examined by all stakeholders weekly. The main difference is that instead of waiting for problems, World Consulting Group associates anticipate and predict potential needs before it becomes a problem. The team suggestions are reviewed by all decision-makers every week and undergo a collective reexamination monthly.
The other steps, including information search, evaluation of alternatives, purchase decision, and post-purchase behavior, occur similarly in a collective manner. The philosophy beyond such collective action is twofold: first and foremost, encouraging all-out internal feedback in combination with incentive-based suggestions, comparison and analysis allow for the greatest possible collection of information sets that ultimately allows for neutral and purely economic efficiency-based decision-making.
The second important reason is the illustration of neutrality and integrity. In the management consulting industry, many third-party vendors attempt to influence the decision-making and recommendations of individual management consultants to have a better chance of getting new business. Hence, at World Consulting Group, we do not have any preferred vendors that are recommended based on their incentives for World Consulting Group as an organization or individual team members. Each project is evaluated, re-evaluated, compared, and contrasted until the most viable recommendations are compiled. There are no preferential treatments for any vendor. Such actions are simply devised to benefit our clients by assuring them of our neutrality and the integrity of World Consulting Group and its subsequence reports and recommendations.
Ultimately, though the theoretical basis of the Five Stage Model is established and philosophically sound, each organization has to modify it for its use based on industry, individual, organizational setup, dynamics, and potential requirements for particular end users.