1.2.2 Market research (2)

Comments made on Twitter can be monitored and provide businesses with useful qualitative research. Which of the following methods of data collection is this an example of?

• Social media

• Surveys

• Observation

• Questionnaires

Which of the following best describes the term, market research?A A measure of the size of a market 5B The process of gathering and analysing data 5C A group of consumers with similar needs 5D The sales of a business in a market compared to total market sales

• A measure of the size of a market

• The process of gathering and analysing data

• A group of consumers with similar needs

• The sales of a business in a market compared to total market sales

Which of the following is the most suitable method to gather in depth views, from a smallgroup of consumers, regarding the name and packaging of a business’ new product?

• Observation

• Questionnaire

• Internet

• Focus Group

Market research can help businesses to identify where the exact needs of customers are not being fully met with existing product offerings. This is best described as:

• Informing business decisions

• Reducing risk

• Identifying gaps in the market

• Organising resources

Which of the following statements best describes the term secondary market research? Research using data that has been gathered:

• First-hand by the business itself

• Already

• For a specific purpose for the first time

• By a market research agency that has not been previously collected

A start-up business wants to find out about the number of competitors in the local area. Which of the following is the most suitable way for the business to quickly gather this information?

• Internet

• Questionnaire

• Focus group

• Survey

Which of the following statements best describes the term, quantitative data?

• Data based on opinions, beliefs and attitudes

• Data collected using primary research

• Data based on numbers that can be analysed statistically

• Data collected using secondary research

Which of the following statements relates directly to quantitative data?

• What motivates a customer to buy a product

• How a customer feels when they buy a product

• The number of customers that buy a product

• Why a customer chooses one branded product over another

The charts below show market research data that relate to the percentage of holidays booked via mobile phone by age for this year and last year. Using the charts above, identify which of the following statements is true?The percentage of 18-31 year olds booking holidays via mobile phone

• The number of people aged 18-31 booking via mobile phone increased from last year to this year

• The percentage of 32-44 year olds booking holidays via mobile phone decreased from last year to this year

• The percentage of 18-31 year olds booking holidays via mobile phone increased from last year to this year

• The percentage of 58-70 year olds booking holidays via mobile phone increased from last year to this year

Which two of the following are methods of primary market research? Select two answers:

• Internet

• Government reports

• Market reports

• Questionnaires

• Observation