4.3 & 4.4 Questions (graded)

Front

Which of the following is not a method of sampling? Population, Convenience sampling, Random sampling, Quota

Back

Population

Front

Which practice selects a small group of customers from the population of a particular market for the purpose of primary market research?

Back

sampling

Front

Which of the following is one of the main advantages of market research as a strategic planning tool?
- Helps to raise finance
- Improves recruitment
- Lowers operating costs
- Reduces risks

Back

Reduces risks

Answer explanation

Market research can have a positive impact on all areas of the marketing process – it reduces the risks of a new product launch, helps predict future changes in demand, enables businesses to improve their marketing strategies as well as gives insights into activities and strategies of rival firms. All in all, market research can help to reduce the risks and uncertainties facing a business.

Front

Which type of market research involves collecting new data first-hand, directly related to a firm’s needs?

Back

Primary research

Front

Which of the following is a disadvantage of primary market research? It is not focused, It does not provide exclusive information for the researcher, It is not up to date,  It is expensive to collect

Back

It is expensive to collect

Answer explanation

While primary research can provide focused, up-to-date and exclusive data, it can be time consuming and expensive to collect.

Front

Which of the following is an internal source of market research? Academic journals, Government publications, Media articles

Back

Company annual reports

Front

Which of the following statements does not apply to desk or secondary research? It involves the collection of second hand data that already exists , It relies on market analyses, media articles or government publications,  It often includes the use of surveys, interviews and observations, It can be cheaper and faster to collect

Back

It often includes the use of surveys, interviews and observations

Answer explanation

Surveys, interviews and observations are all means of collecting market data as part of primary research.

Front

Which method of primary research involves watching how people behave in and respond to different situations?

Back

observation

Front

Which option below includes the use of market research firms, trade publications or company annual reports or websites of competitors? Media articles, Surveys, Field research, Market analyses

Back

Market analyses

Front

Which term is used by researchers to describe all the potential customers of a particular market?

Back

population