The Disadvantages of Market Research

Although market search is wildly used before companies develop a  new product line, there are a lot of disadvantages associated with this method.

The first disadvantage of market Research is that this method usually consumes a lot of time. A typical market research takes up to six to seven weeks. Whether a company is using existing employees or hiring a company to conduct the market research, it is easy to assume that the research is very costly due to the big amount of salary and other required payments caused by the long research period

Moreover, sometimes the market researches conducted can be misleading.  For example, people usually walk into Walmart and Best Buy to see and try what they want to buy and use Best Buy as products‘ showrooms. However, they actually buy it in another online retailer(usually via Amazon). It is really shocking that Best Buy even creates new store formats to combat this “showrooming”. This is caused by A study by comScore in April 2012 shows that 35% of respondents claim that they have bought products in Best Buy because of the showroom.  However, how much are they doing this? The respondents simply avoid to say that they are taking advantage of Best Buy to embarrass themselves during the survey. The market research above, apparently, is very misleading.

Therefore, companies need to be careful and try their best to choose the best market research method in order to reduce market research disadvantages. Hopefully in the future, some new market research methods will be created which are faster, cheaper and better.

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