Marketing Research Essay

982 words - 4 pages

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 The data can be out of date which offers only little value for Tesco especially in changing markets.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 This contributes to Tesco market plan in a negative way, data being out of date means that they cannot analyse the current situation as data is unreliable.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...

Find Another Essay On Marketing Research

Marketing Research Essay

1203 words - 5 pages Marketing ResearchBusiness is a very complex operation with hard work and a product or service is not enough. Market is a very important area where the trading of goods or services takes place. In order to succeed and correctly identify a market, a product or service, people need to do market research. This is an organized study of facts important to the business. In the following paragraphs I will discuss the relationship between marketing

Marketing Research Essay

1396 words - 6 pages advertisements for radio spots, newspapers, and television commercials. Additionally, the marketing budget includes public relations activities, onsite events, and sponsorships. The marketing plan also includes activities to drive word of mouth marketing to higher levels (Apollo Group, Inc., 2004).Before Kudler can implement any of the suggested programs or plans, marketing research needs to be completed. The core concept of marketing is to provide a

Marketing Research

1708 words - 7 pages Marketing research and market information is very important to an organisation as it helps them to satisfy their customers, which then in turn helps them to survive in the long term and make the best profit that they can. Market research is a means of communication between the organisation and consumer , which allows an organisation to establish whether the customers are satisfied by looking at their needs and wants. By finding out

Marketing Research

1279 words - 5 pages expand its services to include catering and organic foods through the utilization of marketing resources--before the company can start, it is imperative for them to define its marketing mix and to conduct market research.Marketing Strategy - Organic FoodsAccording to the Kudler case study, further marketing research is needed to determine a course of action as the previous surveys were deemed insufficient. Further surveys would be useful in gaining an

marketing research

708 words - 3 pages instead of cash to make payments. Based on research, 10 million credit cards had been issued, with only 30 percent of card holder able to meet the monthly repayment (New Strains Times, November 14, 2011). In additionally, Citibank was lacked of Targeting market, Marketing strategy and .The way to solve Citibank problems is reinforcing their target marketing by looking to the people who will mostly need or want to buy the product and services from

Marketing research

1946 words - 8 pages 1. MARKETING RESEARCH Marketing research tools are assets for every company, from MNE’s (Multi-National Enterprises) to small businesses and from specialized agencies e.g. WHO (World Health Organization) to smaller NGO’s (Non-government Organizations). It is an effective tool which provides the necessary information for companies to meet better the customer’s needs and to make better targeted decisions. Two cases are being discussed, the first

marketing research

448 words - 2 pages Marketing research proposal CHANEL Buchukuri Ekaterina CONTЕNT • Introduction • Rеsеarch question • Purpose of thе study • Resеarch methods • Datа Collection Plan • Datа Anаlysis • Conсlusion Introduction: CHANEL • French Luxurious brand • Fоund in 1909 • By French couturier Gabrielle Cоco • Headquarters is located in Paris

Marketing Research

3307 words - 13 pages Marketing Research 1. EXECUTIVE SUMMARY Sasel Research has developed a research proposal for Epic Developers to investigate the needs and wants when buying inner-city luxury apartments. The information that we collect will determine the advertising strategies that will be employed. Background information must be considered before research design and data collection methods are implemented. We have collected a variety of secondary

Marketing Research - 1301 words

1301 words - 5 pages The following marketing research report will examine the developments in the UK market for biscuits and cakes over the past five years. To collect the data and the information a secondary research was required. Comparing different sources of the information has led to a better understanding in the specific market and to more accurate predictions in the future concerning UK's supermarket industry. For the following report a secondary research was

Marketing Research - 629 words

629 words - 3 pages Questionnaire Nr.Drive in a Movie QuestionnaireInterviewer: Please read all questions to the respondent as they appear on the questionnaire. Only read the bold text. Interviewer instructions are in italics. Circle the figure that corresponds to the respondent's answer choice. Example: dInt.: Introduce yourself to the respondent. Mention that you are a business student conducting a survey as part of a marketing research class. Briefly inform the

Global Marketing Research

557 words - 2 pages Name : Intan Puspitasari Class : Fast trackGlobal Marketing ResearchThe companies that operate internationally need to know the market condition which is their expanding marketing target. For most of international marketers, there will be challenges and obstacles that have to be faced carefully and need certain attention if they come into a foreign market. To face those things, the international marketers usually conduct a marketing research

Similar Essays

Marketing Research Essay 925 Words

925 words - 4 pages Importance of Marketing Research Companies use marketing research to identify problems or opportunities that they might encounter. Organizations may also use marketing research to identify their strengths and weaknesses, and certain trends that are forming in their market. H&R Block is a tax service company that prepares state and federal taxes for individual customers and small to mid-size companies (H&R Block, 2010). This company has

Marketing Research Essay 960 Words

960 words - 4 pages According to the American Marketing Association: Marketing research is the function that links the consumer, customer, and public to the marketer through information—information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address

Marketing Research Essay 1177 Words

1177 words - 5 pages Grow business…improve operational efficiencies…increase customer loyalty… These are just a few strategic initiatives companies may align with their operations. Initiatives of this nature require a great deal of thought, defining, planning, analysis, and a myriad of additional processes to be successful. Collectively, these processes are considered marketing research. By definition, marketing research is as follows:The

Marketing Research Essay 851 Words

851 words - 3 pages salon as an example. It is likely they will do plenty of marketing to increase their client base, yet probably do very little in terms of research. Perhaps the importance and value is overlooked. Through defining market research, identifying the various types of, and understanding the marketplace, a local hair salon could reach their full potential with the use of this process. Define Marketing Research In defining marketing research several