Y9 Business Studies - C15 Market Research

What is the primary purpose of market research?

• To create advertisements

• To find out what people want to buy

• To increase product prices

• To reduce production costs

Which type of information requires opinion or judgment?

• Quantitative information

• Qualitative information

• Statistical information

• Historical information

What is primary research?

• Using existing data

• Gathering original data

• Studying market trends

• Analyzing competitors

Which method involves asking people questions?

• Observation

• Interviews

• Experiments

• Questionnaires

What is a random sample?

• A group selected by chance

• A group selected based on specific characteristics

• A group of competitors

• A group of loyal customers

What is a disadvantage of using questionnaires?

• They are inexpensive

• They can mislead customers if poorly designed

• They provide detailed qualitative information

• They are quick to analyze

What is a key advantage of interviews?

• They are always inexpensive

• They can provide detailed information

• They require no preparation

• They are quick to conduct

What does observation in market research involve?

• Interviewing customers

• Analyzing past sales data

• Watching and recording behaviors

• Conducting surveys

What is a limitation of secondary research?

• It is always accurate

• It can be outdated

• It is always free

• It is time-consuming

Which of the following is an internal source of information?

• Market research agencies

• Sales records

• Government reports

• Specialist journals