OCR Bus: 2.2 Market Research

What is the purpose of conducting interviews in primary research?

• To gather quantitative data

• To gather in-depth information through open-ended questions

• To test a product with a small group

• To bring together a small group of individuals

Which type of data helps businesses understand customer preferences at a larger scale?

• Qualitative Data

• Focus Group Data

• Quantitative Data

• Observational Data

What is the purpose of using statistical techniques in market research?

• To gather qualitative insights

• To interpret quantitative data

• To conduct interviews

• To understand customer opinions

What is the collection of data directly from the source through methods such as surveys, interviews, and focus groups called?

• Market Research

• Target Market

• Primary Research

• Secondary Research

Which type of data provides insights into customer opinions, attitudes, and preferences?

• Qualitative data

• Quantitative data

• Primary data

• Secondary data

Which of the following is an example of primary research?

• Reading industry reports

• Analyzing sales data

• Conducting surveys with customers

• Reviewing financial statements

Which of the following is an example of secondary research?

• Conducting focus groups

• Interviewing customers

• Sending out questionnaires

• Reading industry reports and market research reports

Why is it important to gather feedback before launching a product?

• To increase production

• To reduce costs

• To make improvements based on customer feedback

• To train employees

How can businesses use online databases in market research?

• To gather customer feedback

• To gain insights into market trends and competitor analysis

• To train employees

• To increase production

What is the purpose of conducting interviews in qualitative research?

• To gather numerical data

• To understand the "why" behind customer behavior

• To analyze industry reports

• To collect census data