Market Research

Market research is It involves identifying and anticipating

what consumers want today and

will want in the future

• True

• False

Which of these is not a reason for market research?

• Identify customer needs

• Establish market size and location

• Assess the competition

• Boost industrial relations

Field research is also known as secondary research

• True

• False

Which of the following is not an example of desk research?

• Internet

• Government Publications

• Focus Group

• Reports

Which of the following is a disadvantage of field research?

• Obtain info Quickly

• Doesn't have to share results

• Takes a lot of money and time.

• None of the above

The importance of market research is the following...

• reduced risk of failure

• Identify new markets

• Identify threats

• All of the above

dividing by population characteristics, e.g. age, gender, income, etc

• Geographic

• Demographic

• Psychological

• None of the above

dividing by geographical area

• Geographic

• Demographic

• Psychological

• None of the above

dividing by attitude or taste

• Geographic

• Demographic

• Psychological

• None of the above

Market segmentation can help get a foothold in the market, increase sales and lower costs.

• True

• False