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How does accurate market research help a business?

• By avoiding risk

• By reducing risk

• By eliminating risk

What does a market segment identify?

• All the products in the market

• Competitors

• Groups of people with similar buying habits

What is a gap in the market?

• An area of the market where there is demand, but no or little supply of a product

• An area of the market that is highly populated by other products and services

• An area of the market where there is no demand but a lot of supply

Why is having reliable market research data important?

• It allows the business to make properly informed decisions

• It means the business will make errors because of false information

• It allows businesses to copy their competitors

What does USP stand for?

• Unique selling point

• Unique selling price

• Unique selling potential

What is a niche market?

• a French food market

• a small specialised market

• a large open market

• a personalised market

Why do businesses use market research?

• to identify customer needs

• to communicate with their target audience

• to sell goods and services

• to identify possible USP

what is desk research?

• Gathering new data

• Gathering existing data

• 
  Conducting surveys

• conducting interviews online

How does accurate market research help a business?

• by avoiding risk

• by reducing risk

• by eliminating risk

• forecasting future partnerships

what is the name of an individual who is asked questions in a survey?

• supplier

• responder

• sample

• respondent