advanced marketing management class 4
TRANSCRIPT
![Page 1: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/1.jpg)
AVANTAGES AND LIMITATIONS OF MARKETING RESEARCH
![Page 2: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/2.jpg)
i. Marketing research helps the management of a firm in planning by providing accurate and up- to-date information
about the demands, their changing tastes, attitudes, preferences, buying
![Page 3: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/3.jpg)
ii. It helps the manufacturer to adjust his production according to the conditions of demand.
![Page 4: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/4.jpg)
iii. It helps to establish correlative relationship between the product brand and consumers’ needs and
preferences.
![Page 5: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/5.jpg)
IV. It is helpful in assessing the effectiveness of advertising programmes.
![Page 6: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/6.jpg)
V. It is helpful in evaluating selling methods.
![Page 7: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/7.jpg)
vi. It is helpful in ascertaining the reputation of the firm and its products.
![Page 8: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/8.jpg)
vii. It helps the firm in knowing the marketing and pricing strategy of competitors.
![Page 9: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/9.jpg)
Limitations of marketing research1. It is not a Panacea:
![Page 10: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/10.jpg)
2. Not an exact science:
![Page 11: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/11.jpg)
3. Limitation of time:
![Page 12: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/12.jpg)
4. Erroneous findings:
![Page 13: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/13.jpg)
5. Not an exact tool of forecasting
![Page 14: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/14.jpg)
6. Inexperienced research staff:
![Page 15: Advanced Marketing Management Class 4](https://reader030.vdocuments.site/reader030/viewer/2022032613/58eccad11a28abe1228b469d/html5/thumbnails/15.jpg)
7. Involves high cost: