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Unit 3 M2 explain the limitations of marketing research used to contribute to the development of Tescos marketing plans

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Introduction

M2- explain the limitations of marketing research used to contribute to the development of a selected organisation?s marketing plans Introduction:- In the report it will state the limitation of marketing research that is used to contribute to the development of Tesco PLC marketing plans Cost effectiveness: Cost effective means if the cost of the productive is effective enough. You want your product to be cost effective so it attract customer and also creates high profits. Cost effectiveness also means when you?re getting the best return on each pound that you have invested Marketing planning process model (audit with PESTLE (political, economic, social, technological, legal and environmental external factors) Cost effectiveness depends upon how much money you have to employ personnel to see how external factors which might affect your organisation. If you resources are limited then your reliability of your information will be either limited or invalid, but if you have no limit in resources then you will not have any information limits and you will know that the information will be reliable. If you are cost effectiveness then the organisation can?t analyse external environments in details because you don?t have the resources to do so. Tesco PLC have the finances to be able to employ personnel to see how external factors that might affect the organisation SWOT (internal strengths and weaknesses, external opportunities and threats) ...read more.

Middle

This is also done by Tesco PLC as they have annual objective changes in which they change their objectives for the coming year, the change their objectives my giving their employees new targets that they have to achieve Validity of data collected Validity of data collected means how reliable the sources are from which you have obtained your information. If the information is not reliable it won?t be any use to your organisation and won?t be applicable to your organisation, this will also not be effective in creating revenue and attracting customers Due to Tesco PLC strong finances they are more likely to have valid information that is applicable to their organisation. Marketing planning process model (audit with PESTLE (political, economic, social, technological, legal and environmental external factors) When the organisation uses its information to set objectives that may be based on inaccurate or unreliable information. Then the strategy that has been set to achieve those objectives will take time to develop but will be working towards wrong objectives. When the organisation realises the error the will have to change how the organisation operates which will affect the organisation. Then after all that has been stated above has occurred the organisation will then evaluate the objectives If the information that you have obtained on audit with PESTLE are not reliable or from a reliable sources then the information that ...read more.

Conclusion

objectives, they will then state clearly the loses that the business has acquired If the validity of the information that you have obtained is unreliable then the objectives will be unrealistic, and so if you spend a lot of money and resources on something that is not what you had expected, then you have wasted your time and resources, and if the information is wrong then the targets may affect your progress, your competitors will then use your misfortune for their advantage Before Tesco PLC uses the information that they have received from the research they will do vigorous test and sample test to see if the research is realistic or unrealistic, they will also contact the research providers to validate the information that they have been provided with Objectives; determine strategy and tactics, implement changes; evaluate If the validity if the information that you have obtained is invalid then the strategies and tactics will be affected because you may not be doing as well as you had initially thought and so this will have an effect on your tactics and strategies because you may have based them upon you doing well in the market place. Wrong information also effects the implemented changes may have been based upon you doing well because these changes had been based upon wrong information this will have a negative effect on the organisation ...read more.

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