
Market Research Quiz - FMP
Authored by Thomas Harvey
Education
University
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 10 pts
What is the primary purpose of market research?
To generate profit for businesses
To reveal truth and inform business decisions
To confirm existing theories
To follow trends blindly
2.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
What type of questions should you aim to ask for your survey?
Open questions
About the customers day
Closed ended questions
Ranking questions
Answer explanation
This was discussed in your week 3 class during the first session...
3.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
According to the video, why is it not necessarily a bad thing if a hypothesis in market research turns out to be wrong?
It leads to more confusion
It proves incompetence
It reveals the truth and provides valuable insights
It results in wasted time and resources
4.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
Which company experienced a viral TikTok sensation in 2021, leading to a significant increase in sales?
Oracle
Bloom and Wild
Little Moons
5.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
How did Little Moons adapt their strategy based on market research findings?
Increased prices
Changed PR strategy to focus on TikTok story
Launched new flavors
Reduced production
6.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
What did Bloom and Wild discover through market research about consumer preferences for Valentine's Day gifts?
Consumers prefer red roses
People don't care about thoughtful gifts
Red roses are considered a cliche
Valentine's Day is not a popular gift-giving occasion
7.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
What example is provided in the video to highlight the consequences of skipping market research?
Little Moons
Bloom and Wild
Oracle
Facebook's smartphone "First"
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