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ADVANTAGES and DISADVANTAGES of MARKETING RESEARCH

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ADVANTAGES and DISADVANTAGES of MARKETING RESEARCH
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Abhijeet S
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ADVANTAGES and DISADVANTAGES of MARKETING RESEARCH - September 7th, 2010

ADVANTAGES OF MR
  • For decision makers, faced with the decisions and doubts described above, what should be the benefits of having research conducted?
  • The most universal and usually most vital is this: reduction of uncertainty.
  • If research findings contribute any relevant knowledge of what exists, that the decision maker was ignorant of, or if it provides new clues to what is likely in the future, they should enable a more accurate conclusive decision to be reached.

  • Uncertainty can not be wholly eliminated with relevant research, but it may be markedly reduced.

  • Research also may be of benefit in ways ordinarily thought of as uncertainty reduction:

(1) Problems may come to light that otherwise would be not be known until they became very serious or even insoluble

(2) Objectives may come under reevaluation when evidence indicates that

(a) they may be too high to be feasible under expected conditions or

(b) they should be higher due to overlooked opportunity

(3) Better alternatives may be revealed or their conception stimulated

(4) Marketing research may be useful as evidence in legal matters.


  • We would call attention to other benefits, such as the psychological one of making the decision-maker feel more confident and willing to be decisive.

  • Prejudice against new ideas may be overcome by evidence from the market place.
  • Sociologically, research can keep the executives attuned to changing consumer needs and wants and to the impacts of consumerism.

  • Less laudable are political motives for marketing research, like the executives who wants it to confirm some preconceived ideas and overcome rivals in the organization (but would suppress if they fail to confirm)
.



LIMITATIONS TO MR

Some of the limitations faced by the researchers in MR are:
  • 1. The lack of scientific training in the methodology of research is a great impediment for researchers in our country. There is paucity of competent researchers. Many researchers take a leap in the dark without knowing research methods. Most of the work, which goes in the name of research, is not methodologically sound. Research to many researchers and even to their guides, is mostly a scissors and paste job without any sight shed on the collated materials. The consequence is obvious, viz, the research results, quite often, do not reflect the reality or realities. Before undertaking research projects, researchers should be well equipped with all the methodological aspects. As such, efforts should be made to provide short-duration intensive courses for meeting this requirement.

  • 2. There is insufficient interaction between the university research departments on one side and business establishments, government departments and research institutions on the other side. A great deal of primary data of non-confidential nature remain untouched/untreated by the researchers for want of proper contacts. Efforts should be made to develop satisfactory liaison among all concerned for better and realistic researchers. There is need for developing some mechanisms of a university – industry interaction programme so that academics can get ideas from practitioners on what needs to be researched and practitioners can apply the research done by the academics.

  • 3. Most of the business units in our country do not have the confidence that the material supplied by them researchers will not be misused and as such they are often reluctant in supplying the needed information to researchers. The concept of secrecy seems to be sacrosanct to business organizations in the country so much so that it proves an impermeable barrier to researchers. Thus, there is the need for generating the confidence that the information/data obtained from a business unit will not be misused.

  • 4. Research studies overlapping one another are undertaken quite often for want of adequate information. This results in duplication and fritters away resources. This problem can be solved by proper compilation and revision, at regular intervals, of a list of subjects on which and the places where the research problems in various disciplines of applied science which are of immediate concern to the industries.

  • 5. There does not exist a code of conduct for researchers and inter-university and inter-departmental rivalries are also quite common. Hence, there is need for developing a code of conduct for researchers which, if adhered sincerely, can win over this problem.

  • 6. Many researchers in our country also face the difficulty of adequate and timely secretarial assistance, including computerial assistance. This causes unnecessary delays in the completion of research studies. All possible efforts be made in this direction so that efficient secretarial assistance is made available to researchers and that too well in time. University Grants Commission must play a dynamic role in solving this difficulty.

  • 7. Library management and functioning is not satisfactory at many places and much of the time and energy of researchers are spent in tracing out the books, journals, reports, etc., rather than in tracing out relevant material from them.

  • 8. There is also the problem that many of our libraries are not able to get copies of old and new Acts/Rules, reports and other government publications in time. This problem is felt more in libraries, which are away in places from Delhi and/or the state capitals. Thus, efforts should be made for regular and speedy supply of all governmental publications to reach our libraries.
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Dharmik Moni
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Re: ADVANTAGES and DISADVANTAGES of MARKETING RESEARCH - August 5th, 2014

Hey Man,

Its really great information on Advantages and Disadvantages of Marketing Research.
Thanks for sharing
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Business Education
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Re: ADVANTAGES and DISADVANTAGES of MARKETING RESEARCH - May 23rd, 2015

This is good and it would be useful for the reference,but i just wanted to know something about marketing research process. marketing research is mandatory and without it, the success of the business is quite difficult and market research solve lo of query related to, target audience, business location, marketing strategy and many more. But, i am totally confused about marketing research process.
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