Questions Sales and Marketing

What are the limitations of market research?

Airtract

Sabina Patil

Dream without fear

Marketing research plays a significant role in the growth of a business. Through analysis, the business groups can analyze which strategies or methods are necessary to build a healthy connection between the consumers and the company so that the consumers can build trust on the company and always seek for the products or services made by them.  The business researchers will conduct various types of marketing research that come to the hypothesis of what are the requirement and measures to be taken. But in practical situations, it has been found that marketing researches have a lot of limitations too. Here they follow:

1. Marketing research is not a static process and keeps on changing all the time. But, in practical situations, so much of regular changes are not a healthy practice for a marketing environment. For the development of your business, you should seek changes at particular points of time, but it should not be so regular. This messes up your mission to reach your goals. 

2. Marketing research is a study and not something which is practiced in real life. It is a study of Social Science which is useful for creating a survey report or a research paper. But if you seek solutions to your business, it is not able to give the accurately neither it helps you in decision making.

3. Marketing research is not a cost-effective strategy for business growth as you need to invest a lot of amount in conducting research. Starting from planning, budgeting, making questionnaires, team building, surveys, preparing reports to the allocation of salaries, all these things need a lot of money.

4. On the one hand, when marketing research is much costly, on the other side, it is also time-consuming. You cannot skip any of the steps which are required for conducting a complete study and for that you need enough time too.  

5. It is not easy to predict the customer’s behavior through research as most of the steps of analysis are valuable for academic levels and not for practice fields. You can quickly gain technical solutions through marketing researches, but the scope is limited when it comes to the original situation. The answers are not realistic.

6. It is not easy to get proper staff or researchers to conduct marketing research for which the companies involve the inexperienced or formal teams for research purposes. As a result, the research hypothesis is not that technically correct, and it is of the least or no use for the business. 

7. Proper marketing research needs an authentic collection of data to produce a reliable MR report. But in reality, it is not much possible to collect reliable data as there are hardly a few sources available. As a result, the reports of the researches are not much trustworthy. 

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