1.2.1 & 1.2.2 - Customer needs & market research (PART B)

Quiz
•
Business
•
9th - 10th Grade
•
Medium
P Bell
Used 49+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a reason why businesses conduct market research?
To identify and understand:
Employee needs
Shareholder needs
Customer needs
Manager needs
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a type of survey that involves asking a series of questions to respondents to find out specific information to meet business needs?
Observation
Questionnaire
Government report
Market report
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Information regarding total market sales and individual business sales in that market can be gathered via market research. The data collected can be used to calculate:
Market share
Profit
Cash-flow
Break even
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements best describes the term primary market research?
Data collected first-hand for a specific purpose
Data already collected for a specific purpose
Data collected first-hand for a general purpose
Data already collected for a general purpose
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Lifestyle changes in today’s society has meant that many people no longer have the time to cook and prepare meals from scratch. As a result, the ready meal market has grown significantly over recent years. Which customer need is the ready meal market primarily meeting?
Price
Quality
Choice
Convenience
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit to a start-up business of identifying and understanding customer needs?
Increased possibility of survival
Lower chance of breaking even
Customer demand for its products will be minimal
Increased risk of making costly mistakes
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following questions is most likely to result in the gathering of qualitative data?
Why?
How many?
When?
How often?
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