Unit 2: Research Quiz

What is the main purpose of market research?

• To collect information about consumer needs

• To reduce product prices

• To advertise the company

• To increase company size

Which phase of the product lifecycle is market research usually conducted in?

• Growth

• Research and Development

• Introduction

• Decline

What are the main types of market research?

• Exploratory and Specific

• Internal and External

• Primary and Secondary

• Quantitative and Qualitative

What is an example of primary research?

• Marketing firm reports

• Internet research

• Focus groups

• Questionnaires

What is a benefit of primary research?

• It requires no analysis

• It is less time-consuming

• It is always free

• It provides exclusive information

What is a disadvantage of primary research?

• It provides outdated information

• It is time-consuming and expensive

• It is easily accessible by competitors

• It offers too broad information

What is secondary research?

• Conducting experiments

• Using existing data

• Creating new data

• Interviewing consumers directly

What is an advantage of secondary research?

• It provides exclusive data

• It is quicker and cheaper

• It is always up-to-date

• It requires extensive fieldwork

Why might a business prefer primary research over secondary research?

• To save time

• To access broader information

• To gain a competitive edge

• Because it is cheaper

What should a business consider before conducting primary research?

• The number of employees available

• What secondary research exists

• The color of the survey forms

• The design of their website