IGCSE Chapter 11 | Market Research Quiz

What is the definition of market research?

• Promoting products through advertisements

• Selling products to consumers

• Gathering information about consumers' needs and preferences

• Manufacturing products based on personal preferences

What is the focus of product-oriented businesses?

• Market conditions and opportunities

• Consumer needs and wants

• Marketing budget and approaches

• Quality and price of the product

What is the focus of market-oriented businesses?

• Consumer needs and wants

• Quality and price of the product

• Marketing budget and approaches

• Market conditions and opportunities

What is the primary purpose of conducting market research?

• Identifying current and future consumer needs

• Maximizing profits through sales

• Reducing production costs

• Expanding the business globally

What is the disadvantage of primary research?

• Expensive and time-consuming

• Outdated and incorrect

• Biased questions and dishonest participants

• Small sample size and incomplete information

What is the advantage of secondary research?

• Representative of the whole group

• Ease of access and low cost

• Accurate and reliable data

• Specific to researchers' needs

How can market research information be presented?

• Tables, charts, and graphs

• Television commercials and radio broadcasts

• Text messages and phone calls

• Social media posts and advertisements

What is the purpose of using market research for businesses?

• Maximize production and minimize costs

• Ignore consumer needs and focus on profits

• Expand globally and dominate the market

• Identify marketing opportunities and problems

What does sampling mean in market research?

• Analyzing statistical data for trends

• Conducting interviews with industry experts

• Getting opinions from a selected group to represent the whole

• Collecting data from government agencies

What is random sampling in market research?

• Choosing samples without reason

• Gathering representative data from a group

• Asking for opinions and views from a selected group

• Selecting individuals based on specific characteristics