10 advanced Limitations of Marketing Research

Marketing Research definition by According to the American Marketing Association, “Marketing research is the systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services.”

The following Limitations of Marketing Research below are:

1. Not an exact science: It deals with human behavior and as such cannot be examined in a controlled environment. There are various and uncontrollable factors which influence marketing forces. This gives scope for wrong conclusions. Hence this leads to marketing research as not being an exact science.
2. Not an exact tool of forecasting: It cannot be used as a foolproof tool of forecasting because there is a number of intervening factors between the findings of the research and marketing complex. The forces act and react and interact to give a complex state, which is difficult to be studied.
3. Inexperienced research staff: It needs great expertise and well-trained and experienced researcher, interviewer and investigator.
4. It is not a Panacea: Marketing Research is not the ultimate solution to all marketing problems. Rather it offers accurate information, which can arrive at suitable decisions to solve the problem.
5. Narrow Conception: Marketing research is a fact-finding exercise. It is not a problem-oriented. It is of low and questionable validity.
6. Involves high cost: It is considered a luxury for the management as it involves high cost.
7. Limitations of tools and techniques: The validity of marketing research is also limited by the limitation of the tools and techniques involved.
8. It is passive: Its use and effectiveness largely depend upon the ability of executives to get the most value of it.
9. Limitation of time: Its process is lengthy and needs a long time to complete it. During the period between starting the research and implementation of decisions, the situation and assumptions may have changed drastically which reduces the utility of the research report. Decisions based on such report prove to be obsolete and result in false conclusions.
10. Erroneous findings: The complicated problems may not be comprehensively studied and their impact properly analyzed by the researcher on account of insufficient fund, time and technique. This leads to erroneous findings, which disappoint the management.