Market Research / Target Market Review

Why do businesses use market research?

• To identify customer needs

• To sell goods and services

• To gain information about competition

What is information collected about opinions and views called?

• Quantitative data

• Qualitative data

• Segmentation

How does accurate market research help a business?

• By avoiding risk

• By reducing risk

• By eliminating risk

What does a market segment identify?

• All the products in the market

• Competitors

• Groups of people with similar buying habits

What are the total number of people selected to answer market research questions called?

• A supplier

• A sample

• A respondent

What is market segmentation?

• The process of splitting up a business into different departments

• The process of splitting up a target market into different groups

• The process of splitting up the products of a business into different categories

What does geographical segmentation refer to?

• Splitting up a target market based on location

• Splitting up a target market based on the sports the people play

• Splitting up a target market based on how much money the people earn

What does demographic segmentation relate to?

• Demographic segmentation considers where people are located

• Demographic segmentation considers people’s interests and hobbies

• Demographic segmentation considers people’s characteristics such as income and gender

What type of data can be collected from this part of a trip advisor review?

• quantitative

• qualitative

What type of data can be collected from this part of a trip advisor review?

• qualitative

• quantitative