02 - Market Research Quiz

What is the main purpose of market research?

• To reduce business risks

• To avoid competition

• To increase employee satisfaction

• To minimise operational costs

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

• Reviewing competitors' annual reports

• Conducting a customer survey

• Accessing government statistics

• Reading trade magazines

What is a key benefit of secondary market research?

• It provides real-time customer opinions

• It is generally more cost-effective than primary research

• It ensures complete accuracy

• It eliminates the need for analysis

Which of these is a qualitative research method?

• Focus groups

• Data tables

• Tally charts

• Frequency analysis

What is an example of quantitative data?

• Customer preferences about colours

• Survey responses measuring satisfaction on a scale

• Open-ended interview responses

• Feedback on design ideas

Why is customer segmentation important?

• It reduces business costs

• It ensures customer needs are better matched

• It eliminates competition

• It avoids the need for promotions

Which of these is NOT a method of primary market research?

• Consumer trials

• Questionnaires

• Competitor data analysis

• Focus groups

What is the purpose of using test marketing?

• To finalise sales prices

• To gauge customer reactions to a product

• To reduce marketing costs

• To create competition

Which of these is a challenge when conducting secondary research?

• Gathering enough participants

• Ensuring reliability of sources

• Designing effective questions

• Gaining personal feedback

What is an advantage of conducting interviews as a research method?

• They are quick and easy to conduct

• They provide in-depth insights

• They are the cheapest research method

• They eliminate bias