Market Research Review

Which of the following is the most significant reason why marketing research is important to business?

• It improves financial management

• It contributes to business success

• It makes competitors take notice of the business

• It helps the business to base decisions on opinions

Which of the following is essential to all marketing research:

• Accuracy

• Frequency

• Primary Data

• Secondary Data

• All of the above

Is marketing research used just by large businesses?

• No, it is used mainly by individuals and small businesses.

• No, it is used by businesses and organizations of all sizes.

• Yes, individuals and small organizations do not use marketing research.

• Yes, large businesses are the exclusive users of marketing research.

Which of the following is an example of secondary data:

• The information on a sales invoice

• The results of a focus group

• The outcome of an experiment

• The answers to a survey

Secondary research is cost-effective for marketers because the data:

• Already exists

• are cheap to purchase

• are specific

• are incomplete

An example of an internal source of marketing-research data is:

• Census figures

• Unemployment Stats

• Industry Sales

• Financial Statements

Which of the following is the most popular data-collection method:

• Experiment

• Observation

• Survey

• Situation Analysis

The observation method of collecting marketing-research data involves.

• Watching what customers do

• Test marketing new products

• Conducting online surveys

• Calling customers on the telephone

Which of the following is an example of an experimental study:

• Test marketing a product

• Reviewing customer diaries

• Conducting a focus group

• Analyzing computer code

Which of the is most likely to be a primary data source:

• A sales invoice

• A customer record

• An expense report

• A customer survey