Economics B 1.3.5

What is primary research?

• The collection of data from information that already exists.

• Gathering information directly from the target audience of potential consumers.

• Reports generated by government departments.

• Data that is available to competitors.

Which of the following is an advantage of using primary research?

• It is time-consuming and expensive.

• It allows the business to concentrate time and money on its target market.

• The validity of the answers depends on the mood of the interviewee.

• It finds information about the whole mass market.

What should be considered when producing questionnaires for primary research?

• The color of the questionnaire paper.

• The mood of the interviewee.

• How the survey will be conducted.

• The availability of the data to competitors.

What is a disadvantage of using secondary research?

• It allows the business to examine trends in its market.

• The data is time-dependent and may have been collected with a specific context in mind.

• It reveals new and up-to-date information on the target market.

• It is less expensive than primary research.

Which of the following is not a disadvantage of using primary research?

• It is time-consuming and expensive.

• The validity of the answers depends on the mood of the interviewee.

• It reveals irrelevant information about the target market.

• It allows the business to concentrate time and money on its target market.

What type of research asks closed questions and is generally presented in numerical form?

• Qualitative research

• Secondary research

• Quantitative research

• Primary research

Which type of research asks open questions and allows the researcher to investigate themes that stretch across their research?

• Quantitative research

• Qualitative research

• Secondary research

• Primary research

What is one of the central elements of the market that businesses need to understand according to the text?

• The color preferences of the target market

• The technological advancements in production

• The social, legal, economic, political and technological aspects

• The preferred communication channels of the market

What is a potential problem with market research data related to its structure?

• It may be too specific and not widely applicable

• It may not be specific enough to make good marketing decisions

• It may be too expensive to collect

• It may be outdated by the time it is analyzed

What is a limitation of market research related to sample size?

• A sample may be too large to manage effectively

• A sample may not reflect what happens on a national scale

• A sample may be too diverse to provide useful data

• A sample may be biased towards a particular age group