Marketing - Market Research

Marketing research is used by companies to help do the following:

• Determine customers’ attitudes and preferences

• Test product features

• Learn about competitive products

• All of the Above

This type of market research is typically designed and conducted by the business itself or by a market research agency on behalf of the business.

• Primary market research

• Secondary market research

• Applied market research

• Exploratory market research

This type of market research is based on collecting existing data and information which is already available.

• Primary market research

• Secondary market research

• Applied market research

• Exploratory market research

Which of the following is an advantage of using focus groups for market research?

• Time consuming

• Expensive

• Small range of results

• Provides in-depth information

Which of the following is a disadvantage of using observations for market research?

• Increased sales

• Improve customer satisfaction

• Can be subjective or biased

• Better product offerings

Which of the following is an advantage of market surveys?

• Simple to create and gather information

• Participants may not take seriously

• Findings lack depth

• None of the above

This type of market research involves an interview with a select group of people

• Focus Group

• Observations

• Surveys

• Test marketing

This type of market research involves getting a group to try their products and gain feedback from them before launching it on a larger scale.

• Focus Group

• Observations

• Surveys

• Test marketing

This type of market research involves watching a customer in store from the moment they walk in, to which aisles they go down, how long they stay on each aisle, what attracts their attention, and what they purchase.

• Focus Group

• Observations

• Surveys

• Test marketing

This type of market research involves any written set of questions aimed at collecting information about individuals and products/services.

• Focus Group

• Observations

• Surveys

• Test marketing