• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

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

Extracts from this document...

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Case Studies and Analysis section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Case Studies and Analysis essays

  1. Marked by a teacher

    Aims of tesco

    5 star(s)

    Therefore in 2001 Tesco introduced the Organic and Fair Trade food lines. Although a little more expensive customers can be assured that the product they are consuming is of the best quality possible and if buying fair trade products, can be assured that the farmers are paid over the odds for their produce.

  2. Virgin Atlantic PESTLE analysis.

    to more efficient engines. Some of the technological influences that affect Virgin Atlantic are: * Use of ict * New machinery * e-commerce The use of ICT within business will influence any business hugely, this will majorly affect virgin Atlantic as they will be able to do more market research

  1. (P4) Describe the Functional Activities and the Independencies of Tesco Plc and Coleraine Borough ...

    Outsourcing Definition: This is when a business hires a contractor (third party), who in turn, will offer their services to perform a partition of the businesses operations. Outsourcing can be split into two separate types of activities, these including; 1.

  2. Microsoft Case Study. Objectives, structure and marketing.

    The production process mentioned above is the basic steps carried out by most businesses to manufacture a product. This is also one of the key elements as a lot of workers or staffs are involved in the process of marketing the product.

  1. Unit 9: Marketing Strategy

    T This target is definitely time related as it outlines that the money must be made within 18 months of opening. "To give back to the local community" S This target is not really specific as it could be reached through a variety of ways and does not outline how far local is.

  2. D2 Evaluate the effectiveness of business information and its communication as key contributors to ...

    Interests This is about grabbing the attention of the audience to which the information of the business is being communicated to. This can be achieved by the business through getting straight to the point of what they want to say so that they can keep their audience attention.

  1. Unit 3 D2 Make justified recommendations for improving the validity of marketing research used ...

    The organisation will also see the popularity of their products in the different quarters, they will see in which quarter products are popular and in which quarter the product is not popular and they will use the finding out to see what they can do in order to change the

  2. Unit 2 M2 Assess the importance of employability skills and personal skills in the ...

    for those particular employees that has experiences in working in a particular vacancy that Tesco plc provide. Suitable qualifications would be essential to Tesco plc because, employees such as working as a manager, qualification would be essential for Tesco plc as they need an employee that a degree in business

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work