Market Research

Market research is the process of - information and data about customers, the marketplace and actions of competitors within it.

Businesses will attempt to

• Discover the needs of customers

• Benefit from EOS

• Test customer response to new products

• improve employees working conditions

Primary research is new and should be directly relevant to the needs of the business.

• True

• False

Secondary research involves the use of previously collected information.

• False

• True

Which of the following are methods of primary research?

• Government statistics

• Industry magazines

• Test market

• Focus groups

Qualitative research seeks to gather opinions and views.

• True

• False

Quantitative research doesn’t aim to gather information based on facts that can be tested.

• True

• False

Focus groups and interviews are two methods used to collect opinions and beliefs. This data is an example of which type of research?

• Quantitative research

• Primary research

• Qualitative research

• Secondary research

Through market research businesses will attempt to assess the effectiveness of previous promotion campaigns.

• True

• False

What should a business bear in mind when using a sample group.

• If the sample size is very large the research will take a long time and may prove to be very expensive.

• If the sample size is too small there is greater chance that random factors will make the results inaccurate.

• If the group seem distracted the answers will be inaccurate.

• If you are in a highly competitive industry competitors may send employees to lie about their answers or find out sensitive information about the business.