MARKET RESEARCH

What is the main purpose of marketing research?

• To increase the risks associated with new product launches

• To predict past demand changes

• To reduce the risks associated with new product launches

• To explain patterns in sales of existing products

What is the difference between primary and secondary research?

• Primary research is collected for another purpose

• Secondary research is collected for a specific purpose

• Primary research is more expensive than secondary research

• Secondary research uses first-hand data

What is a drawback of focus groups in qualitative research?

• Members may discuss issues directly related to the research

• Data is not difficult to analyze

• Data is easy to analyze

• Risk of researchers leading or influencing the discussion too much

What is the advantage of secondary research over primary research?

• Allows comparison of data from different sources

• Identifies the nature of the market

• Obtainable quickly without complicated data collection methods

• Obtainable at high rates

What is a disadvantage of secondary research?

• Might not be available for completely new product developments

• Originally collected for the same purpose

• Data collection methods and accuracy are known

• Could be up to date

What is the last step in the marketing research process?

• Present findings

• Make decision

• Develop research plan

• Define the problem

What is the main source of primary data?

• Internet sources

• Internal company records

• Data freshly gathered for a specific purpose

• Government publications

What is the importance of sample size in qualitative research?

• It has no impact on the reliability of the findings

• It affects the generalizability of the results

• It makes the data collection process easier

• It reduces the need for data analysis

What is the role of a control group in experimental research?

• To provide a basis for comparison with the treatment group

• To ensure the experiment is conducted in a controlled environment

• To collect primary data for analysis

• To eliminate the need for randomization

Why is it important to establish research objectives before conducting a study?

• To make the research process more complicated

• To ensure the study is conducted without any objectives

• To provide a clear direction and focus for the research

• To limit the scope of the study unnecessarily