Market Research and Positioning

What is market mapping used for?

• Identifying the price of a product

• Identifying the position of a product within a market

• Identifying the quality of a product

• Identifying the cost of production

Which brand is positioned as low price but not necessarily low quality on the market map?

• New Look

• ASOS

• Matalan

• Topshop

What might the existence of a space on the market map indicate?

• A saturated market

• A market niche

• High profits

• Low competition

What is one usefulness of market mapping?

• It guarantees profitability.

• It identifies market gaps for new product ideas.

• It eliminates the need for research.

• It provides a permanent market solution.

What does market mapping help businesses compare?

• Their products with those of rivals

• Their profits with competitors

• Their marketing strategies

• Their employee satisfaction

Which of the following is a reason why businesses conduct market research?

To identify and understand:

• Employee needs

• Shareholder needs

• Customer needs

• Manager needs

Which of the following is a benefit to a start-up business of identifying and understanding customer needs?

• Increased possibility of survival

• Lower chance of breaking even

• Customer demand for its products will be minimal

• Increased risk of making costly mistakes

Which of the following statements best describes the term primary market research?

• Data collected first-hand for a specific purpose

• Data already collected for a specific purpose

• Data collected first-hand for a general purpose

• Data already collected for a general purpose

Which of the following is most likely to be a benefit of collecting data via focus groups?

• The data collected is usually quantitative and easy to analyse

• Detailed information can be collected about consumer tastes

• They are quick and inexpensive to conduct

• A large sample size is usually involved making the data fully reliable

Which two of the following are examples of secondary research?

Select two answers:

• Questionnaires

• Internet

• Surveys

• Government reports

• Focus groups