Topic 2 Revision Quiz

Why is it important for a business to understand customer needs?

• To avoid hiring staff

• To develop products customers want

• To reduce advertising costs

• To increase taxes

What is an example of primary research?

• Using government statistics

• Reading a newspaper article

• Conducting a customer survey

• Analyzing competitors

Which of the following is a method of secondary research?

• Customer interviews

• Online surveys

• Using published reports

• Observing customers

What is the main purpose of market segmentation?

• To avoid marketing

• To meet the needs of different customer groups

• To reduce staff wages

• To increase production costs

What does the term "niche market" refer to?

• A large, general market

• A market with no competition

• A small, specialized market

• A market with low prices

How can businesses benefit from meeting customer needs?

• Reduced competition

• Higher customer satisfaction

• Increased production costs

• Lower profits

Which of the following is a qualitative research method?

• Sales figures

• Customer opinions

• Profit margins

• Number of products sold

What is meant by "market segmentation"?

• Dividing the market into smaller groups

• Combining all customers

• Ignoring customer differences

• Focusing only on competitors

What type of data is collected through quantitative research?

• Numerical data

• Customer opinions

• Employee feedback

• Product reviews

How can a business use market research data?

• To make informed decisions

• To avoid competitors

• To increase costs

• To reduce advertising