Enterprise / Component 3 / LAA

What is the primary goal of customer needs analysis?

• To understand the financial status of customers

• To identify and understand what customers require and desire

• To analyse the geographical location of customers

• To determine the age group of customers

Which of the following is a common method used in competitor behaviour research?

• SWOT analysis

• Financial auditing

• Customer surveys

• Product testing

Which market research technique involves collecting data from a large group of people through questionnaires?

• Focus groups

• Surveys

• Observational research

• Experimental research

In a SWOT analysis, what does the 'T' stand for?

• Trends

• Threats

• Targets

• Tactics

What is the main purpose of identifying customer preferences?

• To increase production costs

• To tailor products and services to meet customer expectations

• To reduce the number of products offered

• To determine the company's financial health

Which of the following is NOT a method of market trends analysis?

• Time series analysis

• SWOT analysis

• Comparative market analysis

• Consumer sentiment analysis

What is the first step in targeting and segmenting the market?

• Developing marketing strategies

• Identifying the overall market

• Creating promotional materials

• Setting sales targets

Which of the 4Ps of the marketing mix refers to the distribution channels used to deliver a product to customers?

• Product

• Price

• Place

• Promotion

Which factor is most likely to influence the choice of marketing methods?

• The company's logo

• The company's financial resources

• The company's office location

• The company's internal policies

How does trust influence customer loyalty?

• It decreases the likelihood of repeat purchases

• It has no impact on customer loyalty

• It increases the likelihood of repeat purchases

• It only affects new customers