Question

What are the Advantages and Disadvantages of Marketing research

Answer 1

Marketing research is a process wherein relevant datas are collected and analysed in order to help and solve market challenges and to beat competition.

The advantages and disadvantage of marketing research is explained below:

Advantages	Disadvantages
Helps to take major decisions in business like promotional strategies framing, positioning the product etc.	In order to arrive at good decisions there is no perfect trade-off methods.
Marketing research is a major investment to reduce risk and uncertainty.	It is quite expensive and time consuming.
Prediction of business future becomes easy.	Lack of auditory and unfocused content will not give the right prediction of future.
Sofesticated service can be conducted and analysed with the use of visualization techniques.	Data quality becomes a major disadvantage and provides false information.