Limitations of Marketing Research
Limitations of Marketing Research
Following
are the main limitations of Marketing Research:
- Marketing
Research (MR) is not an exact science though it uses the techniques of
science. Thus, the results and conclusions drawn upon by using MR are not
very accurate.
- The
results of MR are very vague as MR is carried out on consumers, suppliers,
intermediaries, etc. who are humans. Humans have a tendency to behave
artificially when they know that they are being observed. Thus, the
consumers and respondents upon whom the research is carried behave artificially
when they are aware that their attitudes, beliefs, views, etc are being
observed.
- MR is not
a complete solution to any marketing issue as there are many dominant
variables between research conclusions and market response.
- MR is not
free from bias. The research conclusions cannot be verified. The
reproduction of the same project on the same class of respondents give
different research results.
- Inappropriate
training to researchers can lead to misapprehension of questions to be
asked for data collection.
- Many
business executives and researchers have ambiguity about the research
problem and it’s objectives. They have limited experience of the notion of
the decision-making process. This leads to carelessness in research and
researchers are not able to do anything real.
- There is
less interaction between the MR department and the main research
executives. The research department is in segregation. This all makes
research ineffective.
- MR faces
time constraint. The firms are required to maintain a balance between the
requirement for having a broader perspective of customer needs and the
need for quick decision making so as to have competitive advantage.
- Huge cost
is involved in MR as collection and processing of data can be costly. Many
firms do not have the proficiency to carry wide surveys for collecting
primary data, and might not also able to hire specialized market experts
and research agencies to collect primary data. Thus, in that case, they go
for obtaining secondary data that is cheaper to obtain.
- MR is
conducted in open marketplace where numerous variables act on research
settings.
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