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M2 and D2 Limitations of Market Research

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M2 and D2
Limitations of market research
There are two types of limitations of market research these are reliability and validity of data collection. Reliability is making sure the method of gathering information is consistent. Validity relates to the accuracy of the information given.
Market research is important the reason this being is because, It is important that a business meets the needs of its consumers. Without it they would not know what service/product to provide. The definition is 'the process of gaining Information about customers, competitors and market trends'.
Validity and reliability
Surveys
Tesco carried out a number of research techniques in order to evaluate their overall value for money, quality price, choice of branded goods and service labels. They gathered this information by using surveys this helped the business identify long-term preferences and differences between consumer groups. The business surveyed around 11,000 of its consumers over a year to find out the important measure. One of the questions that their consumers were asked was their social class. Social class is a more complex concept that incorporates a number of attributes such as education, job and income. Tesco only measured social class using only a measure of income therefore, validity will be low than if they chose to measure using income, job and education. Tesco would want to create a question that offers consistent responses when asked multiple times as this shows reliability. A question I would chose is ‘
Tesco club card
Tesco introduced the club card scheme to benefit both themselves as an organisation and their consumers, the reason for this was because they believed that there potential consumers deserved to be treated with loyalty the club card done by allowing customers to save money by giving them price-off vouchers, customers gained points for every

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