Market research and sampling quiz!

What is the purpose of market research?

• To learn more about the raw materials

• Reduce risks for the business

• To save money

• To understand the market

Market research can be used to adapt goods to meet customer needs

• True

• False

Market research can

• create confusion

• inform decision making

• promote the organisation

• increase risk

Not using market research can...

• promote the organisation

• increase risk

• benefit the customer

• cost the business financially

Sampling in business is a method using

• one classroom full

• a smaller group of respondents

• a larger group of respondents

• one person to interview

Which are a type of sampling

• Random sampling

• Stratified sampling

• Cluster sampling

• Systematic sampling

Why do businesses use sampling?

• Market research is expensive

• It is more difficult

• It is more expensive

• It is quicker to complete than market research

The total number of people who could be included in a particular survey is called...

• A debate

• A business

• A population

The sampling method chosen depends on

• Need for accuracy

• Time available

• The weather

• What mood you're in

Stratified sampling focuses on groups most likely to be interested in your product

• True

• False