What are the Limitations of Market Research Firms?
While market research firms offer valuable insights, there are some limitations: - Cost: Hiring a market research firm can be expensive, which might be a barrier for startups with limited budgets. - Time-consuming: Conducting thorough market research can take time, which might delay decision-making processes. - Data quality: The accuracy of the insights depends on the quality of the data collected. Poor data can lead to incorrect conclusions.