Challenges and Advantages of Marketing research

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Marketing investigate is a systematic and objective collection, analysis, interpretation of data and transportation of marketing data relevant to a single marketing problem. A business or society can investigate about the market before initiating any marketing activity like sales and output to identify niche markets.

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Advantages of marketing research

· It indicates opportunities for products and market development, a business can then rule on the production, sales and output plans after identifying the opportunities.
· It provides a basis for sound, market led decision production by providing data to cut uncertainty.
· Marketing investigate enables an organist ion to match their products or services to the requirements of the consumers or market.
· investigate enables advertising to be tested during a campaigns improvement or prior to initiate to ensure its effectiveness, and after initiate to part the success of the media used.
· It also enables stock ideas to be tested without expenses of lunching to the market; this can be a turn in service, stock or design.
· It also provides objective explanation for success and failure in the market.
· Marketing investigate also helps to value the compel and frailness of rivals plus the threats they may cause to the company.

Problems connected with marketing research
Though marketing investigate is a good convention for all firms to embark on and unquestionably many put in a lot of effort, many times things go wrong in the process. Below are some of the reasons why marketing investigate can fail.

Lack of cash
Financial constraints may limit the whole of investigate activity, foremost to erroneous conclusion. Some times investigate activities are put on hold before they are completed due to lack of funds.

Haste
Many fellowships and firms exertion to do too much in such a diminutive time, they end up taking shortcuts and some times use out of date secondary data which produces wrong results.

Inappropriate methodology
Research methods can be distorted by errors in scheme design, sampling techniques, lack of understanding by subject and interview bias.

Inexperience in data analysis
Some mangers that are not experienced in analyzing and interpreting investigate data may only look for the data they want to see from the investigate data and hence neglect a whole lot of foremost data.

Wrong information
Some times, some citizen due to distinct reasons can give wrong data to the interviewer which will furnish wrong results.

Seasonality
There are some products which are only consumed by seasons, production a investigate about such products in a distinct season will furnish wrong results.

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