Principles of Marketing Quiz

What is the definition of market research?

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Many businesses conduct market research to understand consumer needs and wants. Explain why a business would want to understand the needs and wants of consumers.

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Another reason a business would conduct market research is to identify their target market. Explain the benefit of a business identifying their target market.

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What are the two other main reasons a business would conduct market research?

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A business may decide to conduct primary or secondary research. Explain the difference between these types of research.

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Identify two methods used to obtain primary data.

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Identify two methods used to obtain secondary data.

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Both quantitative and qualitative data can be obtained through market research. Explain the difference between these two types of data.

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State one type of quantitative data.

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State one type of qualitative data.

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