Limitations of Market Research

LIMITATIONS OF MARKET RESEARCH 4

Limitationsof Market Research

Limitationsof Market Research

Marketresearch has become increasingly important in the contemporary humansocieties, especially as far as decision-making is concerned. Indeed,market research provides volumes of data whose interpretation allowsfor the making of appropriate changes that would allow a businessentity to maintain and/or gain competitive edge. Unfortunately,market research often comes with numerous limitations includingreliability of data and bias. While there may be differing opinions,these limitations make the market research considerably less useful.

Keyamong the limitations is the unpredictable behavior that also affectsthe capacity for the results to be duplicated. The behavior of humanbeings is often unpredictable in which case even the results of themarket research cannot be repeated in the future. This means that theefficacy of data pertaining to such behaviors is compromised.Similarly, it is often impossible to replicate the results (Tushman &ampAnderson, 2004). There exists no possible way of producing the exactresults at a different time in the future using a different group ofrespondents and different facilitators. This affects theapplicability of the data obtained from the research (Kolb,2008).

Onthe same note, results in such studies often come with varyinginterpretations. For instance, when an individual is faced withresults of a survey indicating that 80% of dentists would be likelyto recommend certain products and services, some business executivescan feel that the results are usable in advertising campaigns, whileothers may see the percentage as deficient of positive productendorsement (Proctor,2006).On the same note, market research comes with immense levels of bias,particularly given that researchers often incorporate leadingquestions or structure questions in such a manner that a particularanswer would be produced (Kolb,2008).These limitations mean that the credibility and validity of theanswers given and the subsequent research findings is in jeopardy,making the results less useful.

References

Kolb,B. M. (2008).&nbspMarketingresearch: A practical approach.Los Angeles: SAGE.

Proctor,T. (2006).&nbspEssentialsof marketing research.Harlow: Financial Times Prentice Hall.

Tushman,M&amp Anderson, P (2004). ManagingStrategic Innovation and Change:&nbspACollection of Readings.New York: Oxford University Press