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BTEC Level 3 Business Unit 3- Intro to marketing M2/D2
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BTEC Level 3 Business Unit 3- Intro to marketing M2/D2
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M2 Limitations of Market ResearchLimitations Reason Why
Budgetary Constraints Some organisations find it very expensive to carry out
surveys and don’t have enough money to pay market
research agencies to gather information for them so these
organisations use secondary data instead because of
budgetary constraints.
Time Constraints Organisations are sometimes forced to balance the need to
build up as detailed a picture as possible regarding
customer needs, e.g. to make decisions as quick as
possible in order to maintain their position in the market.
Reliability Data The value of any type of research depends on the accuracy
of the data. To ensure the data is accurate, samples and
representatives and interviewers are objective will add to
the cost of research.
Legal & Ethical The Data Protection Act 1998 is an example of a law that
Constraints has a several allegations for market researchers collecting
and possessing personal data. Researchers must make
sure the data they collect is kept safe and secure and only
used for lawful purposes and only kept for as long as
necessary.
Attitude Constraints The results of marketing research are very vague as it is
carried out on customers, suppliers, intermediaries, etc.
People have the tendency to behave artificially when they
are aware of being observed. So the consumers and
respondents that are being researched upon behave
artificially when they are aware that their attitudes, beliefs,
views, etc are being observed.
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