Market Research

What is the main goal of Market Research?

• To make a profit

• To discover what the customer desires

• To evaluate product performance

• To assess advertising effectiveness

When is the best time to conduct Market Research?

• During the product development phase

• After the product is discontinued

• Before launching the advertising campaign

• After the product is well-established

How many broad aims does Market Research have?

• Three

• Two

• Four

• Five

What is the main goal of Market Research when it comes to understanding consumers?

• Discovering their favorite celebrity

• Exploring their dream vacation spot

• Understanding their purchasing power

• Identifying their favorite color

What factors influence consumer behavior when making a choice?

• Brand loyalty

• Tradition

• Price

• Quality

What valuable information does Market Research provide a marketer with?

• Secrets to winning a game

• Where to sell a product or service

• How to fix a car

• How to write a book

Who is responsible for conducting Market Research?

• The marketing team

• The government

• A cross-section of the public

• The CEO of the company

What is the main focus of the marketing concept?

• Creating brand loyalty

• Meeting customer needs

• Assessing product performance

• Making a profit

What does Market Research help the process of finding out?

• What the customer desires

• What the government desires

• What the CEO desires

• What the competitors are up to

What is Market Research trying to find out about consumers?

• What they had for breakfast

• What they are likely to buy in the future

• What their favorite color is

• What their favorite movie is