Monday, 5 September 2011

Yes – Research has its limitations

Accurate, up-to-date information obtained by dispassionate marketing research can be of enormous value to a company in gaining and/or maintaining its competitive edge.

However, there are a number of reasons why, in reality, these potential benefits may not be realised:

Budgetary constraints – gathering and processing data can be very expensive

Time constraints – organisations are often forced to balance the need to build up as detailed a picture as possible regarding customer needs etc. against the desire to make decisions as quickly as possible,

Reliability of the data – the value of any research findings depend critically on the accuracy of the data collected.  Data quality can be compromised by following the wrong routes.

Accuracy of the data – what is a sound sample? Don’t proceed if you doubt the validity of the research

Market Research may not be free from bias. The research design may lead to skewed results.  

Jonathan Brill