What is a marketing plan?
A marketing plan is system used when bring out a new organisation, product, feature etc. Following a marketing plan can turn the thing you are creating into something successful. For example, Sainsbury’s uses the marketing plan when they are diversifying. Diversifying, means creating a new product for a new market. This is risky as you are not sure, if the product is going to be successful or if it will be a complete failure.
What is meant by limitation?
The meaning of limitation is the limit to a certain point. This could also be known as a boundary. Sainsbury’s have many limitations as they are dealing with customers. Some of the limitations that stop Sainsbury’s from doing certain acts are the sales of goods act, consumer protection from unfair trading, Health and safety law and the data protection act.
Budgetary limitation
Budgetary limitation is an important factor when it comes to marketing research. It is important because it involves keeping within a limit when trying to research a successful product. Sainsbury’s main factor of making a product successful is through advertising. The marketing sector of Sainsbury’s budget them equally. For example, they would put money aside for advertising, put money aside for primary, secondary, and put money aside for material and labour costs.
Time limitation
When doing research for a new product it is important that you have a period in completing your product. With a big and successful company such as Sainsbury’s who bring out new products every week, it common that before they start the set out aims and objectives. With the aims and objectives, you can stay on task and bring out a great product.
Reliability of the data
When bringing out a new product for an organisation like Sainsbury’s it is important that primary and secondary market research that you have collected is reliable and true. If the data that has been collected unreliable, then this could lead to bringing out a new product that will go in decline straight away. Furthermore, it will the will be a loss in income as the money used to research was a waste.
Legal and ethical constraints
The data protection act that was enforced in 1998 is a good example for the legal and ethical constraints when it comes to marketing research. Sainsbury’s has many competitors, which means that all the information that they collect can be secured. If any competitor was to use the information, they can be taken to court and ultimately be sued.
The weaknesses of marketing research in the development of the marketing plan.
Many weaknesses occur when collecting market research. The types of research that Sainsbury’s uses are focus groups, face-to-face interviews, surveys and questionnaires and secondary research such as research from the internet. The weakness in focus groups is that if you ask the wrong questions you will get the wrong answers. If you get the wrong answers then you will end up creating a product that people do not want. The same weakness happens to face-to-face interviews.
Surveys and questionnaires is an important feature when it comes to creating a new product. However, there are a few weaknesses when it comes to doing it. For example, if Sainsbury’s want to find out what new flavours of crisp the public would want then they would create surveys and go on the streets. If they go on a miserable Monday at eight o’clock in the morning, the likelihood of getting reliable information is very slim. The weaknesses of secondary research is that wherever you got the information from, whether it be from the internet, leaflets etc there is a chance of the information being false and unreliable.