Market Research refresh Quiz

Market Research refresh Quiz

8th Grade

7 Qs

quiz-placeholder

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Market Research refresh Quiz

Market Research refresh Quiz

Assessment

Quiz

Business

8th Grade

Practice Problem

Hard

Created by

Brianna Kremer-Childs

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7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main focus of qualitative research?

Numbers and data

Customer behaviors, motivations, and emotions

Product pricing

Market trends

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of qualitative research?

Surveys

Interviews

Statistics

Data analysis

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the significance of documenting customer needs in a profile?

To create a list of competitors

To tailor products and services to meet those needs

To determine the customer's favorite hobbies

To find out the customer's favorite sports

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can understanding customer feedback improve a business?

By ignoring customer complaints

By enhancing customer satisfaction and loyalty

By increasing product prices

By focusing only on new customers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it crucial to analyze competitors in a business plan?

To copy their strategies exactly

To identify gaps and opportunities in the market

To increase production costs

To focus solely on internal processes

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is supply?

Supply is the total amount of a good or service available for purchase.
Supply refers to the demand for a good or service.
Supply is the total number of consumers in a market.
Supply is the price at which goods are sold.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is demand?

Demand is the total amount of goods produced in a market.
Demand refers to the supply of goods available to consumers.
Demand is the price consumers are willing to pay for goods.
Demand is the desire and ability of consumers to purchase goods or services.