I am now going to be explaining the limitations of marketing research. Limitations are restrictions that the business has to face; these can affect market research and market planning.
Primary research compared to secondary research is expensive as preparing and carrying out research is high. Research is further time consuming, to be done right it requires a plan. Researching start to finish is longer for getting the results they need. This contributes to the development of the market plan’s forecasts of expected results, as the results that the business is hoping to achieve in duration of time can be delayed. For example, Tesco may hope to gather and research the data in a 2 month period if delayed it will affect this.
Surveys are expensive and the risk of questionnaires and interviews are likely to be bias. Research findings are also only usable if they are only comparable. Back data is data that exists from previous market research if this is the case Tesco’s research will not be reliable. This contributes to the market plan in a bad way as questions being biased mean that it will affect marketing assumptions as the data collected has to be factual. Back data affects the market plan as Tesco cannot properly analyse the current situation, they are in because they are using data that they already have.
Secondary research is heavily reliant for Tesco. The data can be out of date which offers only little value for Tesco especially in changing markets. The search also is not tailored to meet the researchers’ needs this is because it is not presented in a form that meets it. Reports are bought so that comparisons can be made; they are expensive and time consuming if they are not useful in their results. The research obtained, will not be specific to the marketer’s needs and the company may not receive the amount of information they want so research can be inefficient. This contributes to Tesco market plan in a negative way, data being out of date means that they cannot analyse the current situation as data is unreliable. It affects forecasts of expected results; as data cannot be achieved at the duration Tesco wants it to be.
Research that is presented can determine whether the market research that is conducted is more successful. Producing surveys with lots of questions and that require long answers can make customers answer poorly. Market research has to be done in a positive manner, so that customers will answer appropriately. Asking customers in a negative manner for market research and research that asks for unreliable questions with less multiple answers contributes to the market plan’s marketing assumptions as the information on there has to be factual if long questions are asked and are unreliable will provide invalid feedback so this is why it affects this. It affects Tesco’s marketing strategy as the plan has to satisfy customers if the information provided from surveys or is obtained in a negative manner...