Market Research Methods and Feedback

The video covers primary market research methods, including focus groups, observations, consumer trials, questionnaires, and surveys. It explains the differences between qualitative and quantitative research and introduces test marketing as a new method. Each method's advantages and disadvantages are discussed, providing insights into how businesses can gather data to target specific customers effectively.

What does the acronym FOCUS+Q stand for in primary market research methods?

• Focus groups, Observations, Consumer trials, User feedback, Surveys, Questionnaires

• Focus groups, Observations, Consumer trials, User testing, Surveys, Questionnaires

• Focus groups, Observations, Consumer trials, Usability studies, Surveys, Questionnaires

• Focus groups, Observations, Consumer trials, Usability tests, Surveys, Questionnaires

Which of the following is an advantage of using focus groups?

• They are inexpensive to conduct

• They can target the entire market

• Participants are not influenced by others

• They provide in-depth insights

What is a disadvantage of focus groups?

• They are quick to organize

• Participants may be influenced by dominant individuals

• They provide limited insights

• They are easy to misinterpret

What is a key benefit of using observations in market research?

• They require external staff

• They provide true reactions of people

• They are difficult to conduct

• They are always expensive

Which of the following is a disadvantage of observations?

• They provide in-depth insights

• People may not agree to be observed

• They are time-consuming

• They are always accurate

What is a primary advantage of consumer trials?

• They do not require any product samples

• They are quick to conduct

• They provide in-depth feedback from users

• They are always free

Which of the following is a drawback of consumer trials?

• They always result in high sales

• They do not provide any feedback

• They are always profitable

• They can lead to wasted products if not utilized

What is the main difference between a questionnaire and a survey?

• A questionnaire includes analysis, while a survey does not

• A questionnaire is always conducted online

• A survey is only used for qualitative research

• A survey includes the entire process from question creation to analysis

What type of feedback is considered qualitative?

• Feedback that can be counted numerically

• Feedback that provides in-depth reasons and insights

• Feedback that uses closed questions

• Feedback that is always positive

What is an example of quantitative feedback?

• A numerical rating scale

• A focus group discussion

• A detailed written review

• An open-ended question