Why do many businesses fail to adequately use or research properly, despite its rapid growth? Please give your reasons
On February 9, 2010, In market research companies, by admin
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Research is expensive. Typically people qualified to do real, meaningful research are professional degree holders (Ph.D. or equivalent). These people can make good money doing things more rewarding than market research. So not only do they need to be paid, their staff will need to be payed and trained before hand or the results of the research will be compromised. Also, telephone lines for each researcher or materials such as paper, envelopes, computers, software, and overhead space all contribute to cost. If companies are doing well enough without these expenses, it is not too surprising that they are skipping them and their possible benefits.