Sadia Hussain Unit 3
M2 - Benefits and limitations of marketing research
Benefits of the market research Limitations of the market research
Barclays had carried out many different forms of One of the drawbacks of the opinion that
primary and secondary research in order to Barclays had carried out is that they do not give
improve the student account. One of the the business enough information, because a
methods of primary that Barclays had carried questionnaire has multiple answers that people
out is the opinion panel. One of the benefits of can pick from, however they unable to give a
using opinion panels for research is that they are more detailed answer. For example in a focus
quick to create and put out there as they usually group, the people can freely share anything and
involve short questions and answers, and the add more to it anytime they want. Another
data the business finds from opinion panels is disadvantage of using opinion panels is that is
usually quantitative data, however, Barclays also they are not shared or seen by people, the
gathered quantitative from their panels. Figures business may not receive much feedback and
and percentages found from quantitative were they need a lot of feedback in order to gather
beneficial to Barclays as it showed them the information that they can use and improve the
overview, such as how many students had which student account.
accounts.
Another limitation of the opinion panel is that
Another advantage of using opinion the information gathered cannot always be
panels/questionnaire is that the costs for it are enough to be sure, businesses have to make
very low, which means that any business can set sure that there is a high number of responses
up a questionnaire. ‘’The cost of performing this or the questionnaire will be useless to the
type of research and gathering constructive research. If businesses do not handle the
feedback is very low.’’ results correctly and a mix of any numbers, the
Another main advantage of an opinion panel is business will follow and gather up an
that it tends to have more response because it is inaccurate amount of information.
a quick questionnaire, and people usually want ‘’Furthermore, if someone with no
to be part of the research. understanding of figures and numbers were to
handle the data, it could also give distorted
Continuing with their primary research, Barclays results.’’
also carried out a sample group to test their new
improved student account; they also carried out Focus groups have many limitations. One of the
focus groups, this provided Barclays with a lot of disadvantages is that there can be
qualitative information. One of the advantages disagreements between the people in the focus
of doing a focus group is that they help to give groups, which can distract them from the main
clear and detailed information, people can give topic, and the group discussion is not very
their opinions and why they also why, which smooth anymore and unable to gather
helps businesses understand better. Focus information that is required. Focus groups can
groups also help give more information on only be hard to control and manage; they
1
M2 - Benefits and limitations of marketing research
Benefits of the market research Limitations of the market research
Barclays had carried out many different forms of One of the drawbacks of the opinion that
primary and secondary research in order to Barclays had carried out is that they do not give
improve the student account. One of the the business enough information, because a
methods of primary that Barclays had carried questionnaire has multiple answers that people
out is the opinion panel. One of the benefits of can pick from, however they unable to give a
using opinion panels for research is that they are more detailed answer. For example in a focus
quick to create and put out there as they usually group, the people can freely share anything and
involve short questions and answers, and the add more to it anytime they want. Another
data the business finds from opinion panels is disadvantage of using opinion panels is that is
usually quantitative data, however, Barclays also they are not shared or seen by people, the
gathered quantitative from their panels. Figures business may not receive much feedback and
and percentages found from quantitative were they need a lot of feedback in order to gather
beneficial to Barclays as it showed them the information that they can use and improve the
overview, such as how many students had which student account.
accounts.
Another limitation of the opinion panel is that
Another advantage of using opinion the information gathered cannot always be
panels/questionnaire is that the costs for it are enough to be sure, businesses have to make
very low, which means that any business can set sure that there is a high number of responses
up a questionnaire. ‘’The cost of performing this or the questionnaire will be useless to the
type of research and gathering constructive research. If businesses do not handle the
feedback is very low.’’ results correctly and a mix of any numbers, the
Another main advantage of an opinion panel is business will follow and gather up an
that it tends to have more response because it is inaccurate amount of information.
a quick questionnaire, and people usually want ‘’Furthermore, if someone with no
to be part of the research. understanding of figures and numbers were to
handle the data, it could also give distorted
Continuing with their primary research, Barclays results.’’
also carried out a sample group to test their new
improved student account; they also carried out Focus groups have many limitations. One of the
focus groups, this provided Barclays with a lot of disadvantages is that there can be
qualitative information. One of the advantages disagreements between the people in the focus
of doing a focus group is that they help to give groups, which can distract them from the main
clear and detailed information, people can give topic, and the group discussion is not very
their opinions and why they also why, which smooth anymore and unable to gather
helps businesses understand better. Focus information that is required. Focus groups can
groups also help give more information on only be hard to control and manage; they
1
