Business 2 Market Research

Why do businesses use market research?

• To identify customer needs

• To sell goods and services

• To advertise

• To Discover new products

Market research is carried out to: (Choose TWO)

• Reduce risk

• Increase risk

• Help firms make marketing decisions

• Increase prices

• Make more profit

Which of the below IS NOT classed as primary research?

• Focus groups

• Researching data online

• Questionnaires

• Observation

Which statement below IS a benefit of primary research?

• Time Consuming

• Expensive

• Up to date data is obtained

• Results can be misleading

Which of the below IS NOT a benefit of primary research?

• Data obtained is directly relevant to the business

• Competitors cannot access the findings

• Respondents can opt out of the sample

• All data obtained is fresh

What does desk (secondary) research involve?

• Gathering new data

• Gathering existing data

• conducting surveys

• Speaking to and observing customer behaviour

Which of the below IS NOT a type of secondary research?

• Sales records

• Government statistics

• Market research reports

• Surveys

Choose THREE options below which can be classed as INTERNAL secondary research:

• Sales figures

• Previous surveys

• Competitors Sales patterns

• Government Statistics

• Annual report and accounts

Choose TWO benefits of secondary research:

• Quick and easy to collect

• May not be relevant

• Data may not be update

• A wide range of data is available

Which statement below describes Quantitative research?

• Research involving finding numerical data

• Research involving finding out opinions, attitudes and feelings

• Difficult to collect and analyse

• Methods of collecting include focus groups and observation