Market research Uses and Limitations
market research could be used for a number of purposes such as to
identify market trends knowing what problems are in the market or what are succesful part of it.
identify market segment knwoing what each groups such as old young customer interest what they are looking.
identify competition what other market such as sainsbury,asda doing what are their usp and how can they improve their to make a better one.
identify opportunities/gap in the marget seeing the what chances can be filled up whihc are missing in the business like replacing an old product with a better one which will be more preverable to the customer
reduce risk deducting their problems from both competitors and customer dislikes.
market reseach might have a lot of advantage to it but there are also somethings that yout have to consider such as
the reliabilty of the data how accurate it is and how much extend of information it has to it,
time constraints how long it will take will the tijme be enough to seek out the problems
Budgetary constraints how expensive it can be to carry out research is it beyond their current expenditure.
Legal & ethical constraints like researchers must ensure that the data they obtain is kept secure, is only used for lawful purposes and is only kept for as long as it is necessary.
market research could be used for a number of purposes such as to
identify market trends knowing what problems are in the market or what are succesful part of it.
identify market segment knwoing what each groups such as old young customer interest what they are looking.
identify competition what other market such as sainsbury,asda doing what are their usp and how can they improve their to make a better one.
identify opportunities/gap in the marget seeing the what chances can be filled up whihc are missing in the business like replacing an old product with a better one which will be more preverable to the customer
reduce risk deducting their problems from both competitors and customer dislikes.
market reseach might have a lot of advantage to it but there are also somethings that yout have to consider such as
the reliabilty of the data how accurate it is and how much extend of information it has to it,
time constraints how long it will take will the tijme be enough to seek out the problems
Budgetary constraints how expensive it can be to carry out research is it beyond their current expenditure.
Legal & ethical constraints like researchers must ensure that the data they obtain is kept secure, is only used for lawful purposes and is only kept for as long as it is necessary.
Good points...can you explain each one?
Posted by: ebitnow.com | 01/14/2010 at 12:18 PM
PRINT!
Posted by: ebitnow.com | 01/14/2010 at 01:16 PM