Market Research Quiz

What is the main purpose of market research?

• To create new products

• To sell products to consumers

• To conduct promotions

• To collect, record, and analyze data about customers, competitors, and the market

What is the difference between primary and secondary research?

• Primary research is first-hand data, while secondary research is second-hand data

• Primary research is cheaper than secondary research

• Primary research is less reliable than secondary research

• Secondary research is conducted by the government

Which of the following is an example of qualitative research?

• Consumer surveys

• Focus group

• Test marketing

• Observation and recording

What is the main advantage of probability sampling?

• It is more complex

• It is less time-consuming

• It allows for random selection of the sample

• It is usually more costly

What is the main disadvantage of non-probability sampling?

• It is not free

• It is time-consuming

• It cannot be used to calculate the probability of any particular sample being selected

• It is more reliable than probability sampling

What is one of the reasons why primary data may not be as reliable as hoped for?

• Cost-effectiveness

• Questionnaire bias

• Internet and mobile phones

• Sampling bias

How has the Internet and mobile phones made market research easier?

• By making it more expensive

• By limiting access to potential consumers

• By allowing for street surveys

• By contacting a wide range of potential consumers

What is used to interpret and analyze statistical data?

• Cost-effectiveness

• Average, like the arithmetic mean

• Frequency data

• Sampling bias

What is the main advantage of online marketing for market research?

• It allows for conducting research projects for just a few thousand dollars

• It limits access to potential consumers

• It is expensive

• It is time-consuming

What is the main purpose of statistical analysis of results in market research?

• To predict future demand changes

• To explain patterns in sales of existing products and market trends

• To collect data from second-hand sources

• To identify key trends or key features of the data