UNIT 3 - M2
Explain the limitations of market research in terms of helping the development of a marketing plan for either McDonalds or Tesco (M2)
Tesco uses primary type of research to gather information about its customers, competitors and the environment. Tesco collects information that has not been collected before and uses both internal and external primary research methods. Internal research includes: Tesco’s customer data whereas external research would include: questionnaires and surveys, experimental introduction of a new product, interviews and focus groups.
Tesco is likely to use secondary research data to help determine what type of primary data is required to be precise and not to waste time and money on gathering data that has already been gathered before. Other types if methods used by Tesco are qualitative and quantitative research. Qualitative research is used when wanting to find out more about customer’s needs, personal experiences and background by asking open questions such as; asking what products they buy most often at Tesco and what their preferences. Tesco also uses quantitative research which includes Tesco’s sales, percentage of customers choosing the same answer in a quantitative questionnaire and can later be analysed.
Market research is very beneficial for a business such as Tesco, however it can sometimes be a difficult process as there are a few limitations that affect Tesco’s marketing plans. Every marketing research has the potential to be wrong therefore Tesco should plan its research techniques are very expensive and are not affordable to certain businesses therefore Tesco has to make sure that the cost of the research matches it quality. Another limitation of marketing research is reliability, which shows how reliable the information collected is and whether the information would be the same if collected from a different group of people. Tesco should target the most suitable groups of people to question in order for the information to be
Tesco uses primary type of research to gather information about its customers, competitors and the environment. Tesco collects information that has not been collected before and uses both internal and external primary research methods. Internal research includes: Tesco’s customer data whereas external research would include: questionnaires and surveys, experimental introduction of a new product, interviews and focus groups.
Tesco is likely to use secondary research data to help determine what type of primary data is required to be precise and not to waste time and money on gathering data that has already been gathered before. Other types if methods used by Tesco are qualitative and quantitative research. Qualitative research is used when wanting to find out more about customer’s needs, personal experiences and background by asking open questions such as; asking what products they buy most often at Tesco and what their preferences. Tesco also uses quantitative research which includes Tesco’s sales, percentage of customers choosing the same answer in a quantitative questionnaire and can later be analysed.
Market research is very beneficial for a business such as Tesco, however it can sometimes be a difficult process as there are a few limitations that affect Tesco’s marketing plans. Every marketing research has the potential to be wrong therefore Tesco should plan its research techniques are very expensive and are not affordable to certain businesses therefore Tesco has to make sure that the cost of the research matches it quality. Another limitation of marketing research is reliability, which shows how reliable the information collected is and whether the information would be the same if collected from a different group of people. Tesco should target the most suitable groups of people to question in order for the information to be