Topic 2 - Market Research Quiz

What is the purpose of market research?

• To increase taxes

• To understand customer needs

• To reduce profits

• To hire more employees

Which of the following is an example of primary market research?

• Using government reports

• Conducting customer surveys

• Reading a trade magazine

• Using published data

What does "secondary research" involve?

• Gathering new information

• Using existing information

• Interviewing customers

• Observing customers

Which of the following is a method of quantitative research?

• Customer opinions

• Customer surveys

• Collecting numerical data

• Conducting interviews

How can a business use market research data?

• To reduce production

• To inform marketing strategies

• To avoid competition

• To avoid customer complaints

Which of the following is a disadvantage of primary research?

• It is time-consuming

• It provides updated information

• It is easy to access

• It is inexpensive

What is the main advantage of secondary research?

• It is costly

• It is time-saving

• It provides new data

• It requires no analysis

Why is it important to use accurate market research data?

• To mislead customers

• To make informed business decisions

• To avoid paying taxes

• To reduce quality

What is a benefit of using surveys in market research?

• They are always accurate

• They provide qualitative insights

• They reach a large audience quickly

• They reduce production costs

Which term describes the study of customer opinions and attitudes?

• Quantitative research

• Primary data

• Qualitative research

• Statistical analysis