Strand 3: Marketing Information Management

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What is Primary Research?

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Original data collected directly from sources

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Which of the following is an example of secondary research? Conducting a focus group with students, Interviewing customers about a product, Purchasing an industry report, Running a survey with parents

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Purchasing an industry report

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What type of data does quantitative research collect?

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Numerical data

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Qualitative research is best described as focusing on: Open-ended responses and opinions, Budget analysis, Numerical trends, Statistics and ratings

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Open-ended responses and opinions

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What is the main purpose of data analysis in marketing?

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To find trends and patterns in collected data

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What is a target market?

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The specific group of people a business aims to reach

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What does SWOT stand for?

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Strengths, Weaknesses, Opportunities, and Threats

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Which of the following is a method of primary research? Using government data, Reviewing competitor data, Reading industry reports, Conducting a focus group

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Conducting a focus group

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What is the main benefit of knowing a target market?

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It allows businesses to reach people most likely to buy their product.

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In a SWOT analysis, which of the following would be considered an opportunity? Limited variety in products, A competitor nearby, A strong company reputation, New products that could be added to the store

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New products that could be added to the store