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Chapter 1 · Introduction · Slide 10/274

When should you not start market research projects?

Limits of Market Research

1.1 · Market Research and Survey Limits of Market Research

When should you not start market research projects?


CaseComment
Vague objectivesWhen managers cannot agree on what information they need to make a decision. Market research only helps when it investigates a concrete question.
Fixed stanceWhen the decision has already been made and the study is only meant to "rubber-stamp" a preconceived plan.
Too lateWhen results are provided too late to still influence the decision.
Poor timingWhen a product is in its decline phase, there is little point in researching new product variations.
Insufficient resourcesIt is not worthwhile to set up a quantitative study as long as no statistically significant sample is feasible — or when the finances are not enough to implement the resulting decisions.
Costs outweigh benefitsThe expected value of information should exceed the costs of data collection and analysis.
Results not actionableWhen, for example, psychographic characteristics are used that do not help in making concrete decisions.
Information not neededWhen decision-relevant information is already available.
QUESTIONSTAR · Dr. Paul Marx 10 / 274
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