Marketing Research

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 The data can be out of date which offers only little value for Tesco especially in changing markets.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, ...

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...ll provide Tesco with the research they need. It also develops market assumptions as feelings can be conveyed through surveys.

Focus groups- validity can be improved if Tesco pick the right people for their focus groups for example, if they were selling girl perfumes they will only invite potential target groups. Furthermore, a large sample size can represent lots of people who will improve the reliability of the research. Staying on topic but making the discussion interesting, will provide better feedback. The result can be bias, so the reliable questions have to be asked for best results. In the development of the market plan, they will achieve the forcast of expected results. They will also develop on Tesco’s marketing strategy as products can be criticised and help make critical decisions that will make customers happy and this is Tesco’s marketing strategy.