Limitations of marketing research

Correctness of data of data comes the first limitation of marketing research. The persons who interviewed for collecting data need not give the accurate data. Sometime people mislead the data seeker in a wrong way.   The interpretation of result is done on the basis of data collected. So the result depends on the correctness of data. This sometimes may vary and bias of investigator also reflects the result. Expenditure incurred for a marketing research is high. The firm has to make a lot of expense for research. Appointing persons or giving research works to party will be done only be large scale firm. Small scale firm can not only afford this. Special budget should there for research campaign.

Based on samples is another limitation. Most of the research is done on the basis of samples taken from a locality or group of people. The sample may not true or cannot generalize with the result.  The data received from the samples from a population may not give an accurate decision. A market research program always requires trained professional to guide each stage. Otherwise it leads to failure. The research team members have to be trained according to the requirement of the research program. This also takes cost and time.

Types of research

Continuous research

Continuous research is focused for the purposes of studying the continuously the market situations such as demand and supply. Monthly or quarterly demand felt in the market has to study and the fluctuations have to be analyzed. This stands as the basic requirement for any firm for its existence. Also find out the supply of goods or materials for the effective sales to be ensured.

Adhoc research

Adhoc research is a special purpose research. For e.g. a research in which the firm has to check the viability or feasibility proposal. A team of experts will study the particular area where the business activities can be done or not. This is temporary in nature as soon as the study finishes the team will be dispersed.

Exploratory research and Casual research

It is the research focus to explain the market or a particular situation. For e.g. the firm decides to conduct a research on the decline of sales is a exploratory research to identify the problem. Casual research is a research based on the cause and effect relationship. For e.g. a research to find out the effect of reducing or increase the price.