Limitation of marketing research is
Answers
Limitations of Marketing Research
Though marketing research (MR) has many advantages, it also has many limitations or disadvantages.
1. Marketing research studies consumer behavior and marketing environment. Since these factors keep on changing, it cannot give exact information.
2. MR is also a social science. So, it cannot give exact solutions.
3. It cannot be an alternative to decision making. In other words, it cannot replace decision making. It aids in decision-making. It can improve the quality of decisions. However, it cannot guarantee a 100% success.
4. It can reduce the business risks. However, it cannot totally eliminate all these risks.
The limitations or disadvantages of marketing research are as follows:
1. Marketing research (MR) is a costly affair.
2. It is also lengthy and time-consuming.
3. It has a limited scope.
4. It has a limited practical value.
5. It can't predict consumer behavior.
6. It can't give 100% accurate results.
7. It provides suggestions and not solutions.
8. Non-availability of qualified and experienced staff affects its quality.
9. It uses a fragmented approach.
10. It can be misused.
11. Non-availability of a reliable data affects it.
12. It is resistant to marketing managers.
Answer:
Limitation of Marketing Research
Effect of Extraneous Factors: ...
Time Gap Makes Research Irrelevant: ...
Cost Consideration: ...
Problem of Rapid Change: ...
Problem of Trust and Accuracy: ...
It is not Problem Solving Technique but an Aid to Solve the Problem: ...
Subjective or Biased Result: ...
It cannot Eliminate Risks Inherent in Decision-making: