Strand 3: Marketing Information Management

What is Primary Research?

• A type of data that uses only numbers

• Data already collected by another organization

• A method of analyzing existing reports

• Original data collected directly from sources

Which of the following is an example of secondary research?

• Conducting a focus group with students

• Interviewing customers about a product

• Purchasing an industry report

• Running a survey with parents

What type of data does quantitative research collect?

• Open-ended responses

• Descriptive opinions

• Interview summaries

• Numerical data

Qualitative research is best described as focusing on:

• Open-ended responses and opinions

• Budget analysis

• Numerical trends

• Statistics and ratings

What is the main purpose of data analysis in marketing?

• To track sales over time

• To contact customers for feedback

• To find trends and patterns in collected data

• To write reports about customers

What is a target market?

• All employees within a business

• A group of potential competitors

• A company’s board members

• The specific group of people a business aims to reach

What does SWOT stand for?

• Strengths, Weaknesses, Opportunities, and Threats

• Sales, Weaknesses, Opinions, and Trends

• Success, Weakness, Organization, and Testing

• Strategic Work, Objectives, and Tasks

Which of the following is a method of primary research?

• Using government data

• Reviewing competitor data

• Reading industry reports

• Conducting a focus group

What is the main benefit of knowing a target market?

• It simplifies the process of hiring employees

• It allows businesses to reach people most likely to buy their product

• It helps in creating financial reports

• It determines the company's stock levels

In a SWOT analysis, which of the following would be considered an opportunity?

• Limited variety in products

• A competitor nearby

• A strong company reputation

• New products that could be added to the store