Important limitations which are suffered by the marketing research are as follows:
1. Time Consuming:
Marketing research is time consuming. It requires too much of time to reach the final conclusions. There may be a considerable time gap between the inception and completion of the research.
image source: cdn2.hubspot.net
ADVERTISEMENTS:
There may be impatience among marketing executives about the conclusions of the research study. The results of such studies may be known after long periods. The preparation and implementation of research programmes takes too much time. So market research does not give quick conclusions.
2. Lack in Appreciating Rupee Value:
In many cases it may be impossible to translate the value received from marketing research into rupees. The managements want to see the immediate results of such studies.
They want to know the impact of this research on sales, revenue, etc. The actual impact of such an exercise may not be translated into rupee value immediately but the results may be felt in longer periods.
3. Dependent on Information Collected:
The data collected in a research study form the basis of certain conclusions. If the information collected for such purpose is inadequate or unreliable then the results of the study will not be correct. The reliability of marketing research is related to the collection of proper information.
4. Limited Personnel:
ADVERTISEMENTS:
The success of marketing study requires that it must be carried out by qualified personnel. The competent persons required for conducting research are not easily available. At present the studies are conducted by such persons whose results do not benefit the business adequately.
5. Unpredictable Consumer:
The whole marketing research revolves round the consumer. His behaviour, preference, dislikes, motivations are studied to reach certain conclusions. The consumer habits go on changing and this change cannot be precisely predicted.
If the consumer’s traits cannot be properly predicted then the research conclusions will not be much of use. So unpredictable consumer behaviour is also a limitation of marketing research.