Target Market and Resources Quiz

What is primary research?

• Data collected by yourself to assess whether a business or idea will succeed

• Data collected by others through internet research

• Data collected by yourself to assess the buying habits of target customers

• Data collected by others through market or government reports

What is secondary research?

• Data collected by yourself to assess whether a business or idea will succeed

• Data collected by others through internet research

• Data collected by yourself to assess the buying habits of target customers

• Data collected by others through market or government reports

What are characteristics in the context of starting an enterprise?

• Features or qualities of a person that would prove helpful

• Data collected by others through internet research

• Data collected by yourself to assess the buying habits of target customers

• Data collected by others through market or government reports

What does innovation mean?

• Creating new methods, ideas, products

• Data collected by others through internet research

• Data collected by yourself to assess the buying habits of target customers

• Data collected by others through market or government reports

What does skill refer to?

• The ability to do something well

• Data collected by others through internet research

• Data collected by yourself to assess the buying habits of target customers

• Data collected by others through market or government reports

What does demographic mean?

• A particular section of the population

• Data collected by others through internet research

• Data collected by yourself to assess the buying habits of target customers

• Data collected by others through market or government reports

What are physical resources in the context of starting an enterprise?

• Tangible items an entrepreneur will need to start an enterprise

• Data collected by others through internet research

• Data collected by yourself to assess the buying habits of target customers

• Data collected by others through market or government reports

What are financial resources?

• Money you have saved to put into your business

• Data collected by others through internet research

• Data collected by yourself to assess the buying habits of target customers

• Data collected by others through market or government reports

What is the best way to keep clients coming back?

• Providing excellent customer service

• Offering discounts and promotions

• Advertising through social media

• Expanding the product range

What is the purpose of understanding the buying habits and needs of the target market?

• To establish sales and continuously meet customer needs

• To reduce costs and increase profits

• To attract new customers and gain customer loyalty

• To conduct primary research and collect data