L2 Market Research

What is marketing?

• Selling products only

• Creating new products

• Delivering products to consumers

• Promoting buying or selling of a product or service

Which of the following is a Marketing role?

• Accountant

• Market Research Analyst

• Customer Service Representative

• Software Developer

What is the importance of Market Research for a business?

• To limit potential growth

• To reduce product quality

• To identify consumer preferences

• To increase competition

What is the purpose of identifying the target market?

• To reduce market research

• To better meet the target market's needs

• To limit sales

• To increase competition

What is the aim of Primary Research?

• To collect data that has not been collected before

• To organise promotional events

• To analyse market trends

• To develop new products

What is the purpose of Surveys and Questionnaires in Market Research?

• To organise promotional events

• To collect data relevant to the aim of the research

• To develop new products

• To analyse competitor strategies

What is the aim of Planning and Designing in Market Research?

• To check if similar research has been done in the past

• To decide how much information is needed

• To assess competitor strategies

• To identify consumer preferences

What is the purpose of Secondary Research?

• To develop new products

• To identify consumer preferences

• To check if similar research has been done in the past

• To collect data that has not been collected before

What is the aim of Interviews in Market Research?

• To develop new products

• To analyse market trends

• To observe non-verbal language of participants

• To collect data relevant to the aim of the research

What is the significance of analyzing competitor strategies in Market Research?

• To develop new products

• To identify consumer preferences

• To assess the competitive landscape

• To organize promotional events