MM explain the limitations of marketing research used to contribute to the development of a selected organization’s marketing plans Tests uses primary research to gather information about their customers, competitors and the environment. They collect information that has not been collect before and uses both internal and external primary research methods. Internal research includes Tests customers data, whereas external research includes questionnaire and surveys, experimental introduction of new products, interviews ND focus groups and observation techniques.
Tests is likely to use its secondary data to determine what type of primary data is required to be precise and not waste and money on gathering data that has already been gathered. Other types of methods used by Tests are qualitative and quantitative research. Qualitative research Is used to find out more about customer’s needs, personal experiences and background by asking questions such as asking the customers what products they buy most at Tests and what their preferences are, why they choose to shop at Tests ever other over other food retail stores and how would the customers be affected by changes in prices.
Tests also uses quantitative research, which includes Deco’s sales, percentage of customers choosing the same answer In a quantitative questioner, this can later be analyses. Market research is highly beneficial for business such as Tests, however sometimes it can be a difficult process as there are a few research limitations that can affect Deco’s marketing plans.
Every marketing research has the potential to be wrong Hereford Tests should plan its research carefully In order for it to be effective and bring out accurate results, Some research techniques are very expensive and are not affordable to certain businesses therefore Tests has to make sure that the cost of the research Justifies Its quality. Another limitation of marketing research Is reliability, which shows how reliable the information collected is and whether the information would be the same if collected from a different group of people.
Tests should target he most suitable group of people to question in order for the information to effective and beneficial for the organizations marketing plans, such as to improve customer service at Tests. Validity of data collection is also a limitation of market research; Tests has to make sure that the information gathered is accurate as people mighty answer randomly out of laziness and the end result will turn out to be inaccurate causing Tests to carry out another research, consuming Deco’s times and money.
If Tests decided to carry out research to find out whether an increase in prices would decrease the demand for its products and target a wrong group of customers to question, the results would once again be inaccurate and would result in Tests losing those customers that would be highly effected by the increase in prices. The information gathered for market research is very useful and reduces the chances of the business making the wrong decision. Before coming up with a marketing plan Tests must always carry out research in order to have an idea of whether the plan is appropriate for the company. As mentioned above, there are some marketing research limitations which Tests should be aware off when carrying out a research so that it would be affective and therefore improved the chances of a success and reduced risk.
