QUIZ 1 - MARKET RESEARCH

Market research is the process of gathering, analyzing, and interpreting information to help company or individual assess the viability of a product or service and make sounds business decisions.

• TRUE

• FALSE

Consumer Behavior is the study of consumers and the processes they use to choose, use, and dispose of products and services, but not including consumer’s emotional, mental, and behavioral responses.

• TRUE

• FALSE

Primary information and supplemental information are the two types of data to be gathered in any type of research.

• TRUE

• FALSE

Customer Satisfaction Research helps with creating and managing a company’s brand, or identity.

• TRUE

• FALSE

Customer Segmentation Researchcan be used at every stage in a business’s lifecycle, from creation to new product launches, and re-branding.

• TRUE

• FALSE

Knowing your customers deeply is integral to creating a strategic marketing plan. This type of market research can help you anticipate consumer needs, spark innovation, personalize your marketing, solve business challenges, and more.

• COMPETITIVE ANALYSIS

• CONSUMER INSIGHTS

• CUSTOMER SEGMENTATION RESEARCH

• CAMPAIGN EFFECTIVENESS

This type of market research is designed to evaluate whether your advertising messages are reaching the right people and delivering the desired results.

• COMPETITIVE ANALYSIS

• CONSUMER INSIGHTS

• CUSTOMER SEGMENTATION RESEARCH

• CAMPAIGN EFFECTIVENESS

This type of research can

help you sell more and reduce customer acquisition costs.

• COMPETITIVE ANALYSIS

• CONSUMER INSIGHTS

• CUSTOMER SEGMENTATION RESEARCH

• CAMPAIGN EFFECTIVENESS

This type of research aims to divide markets or customers into smaller groups or personas with similar characteristics to enable targeted marketing.

• COMPETITIVE ANALYSIS

• CONSUMER INSIGHTS

• CUSTOMER SEGMENTATION RESEARCH

• CAMPAIGN EFFECTIVENESS

This type of research allows you to assess your competitor’s strengths and weaknesses in the marketplace, providing you with fuel to drive a competitive advantage.

• COMPETITIVE ANALYSIS

• CONSUMER INSIGHTS

• CUSTOMER SEGMENTATION RESEARCH

• CAMPAIGN EFFECTIVENESS