Market Research

What is the main purpose of market research?

• The main purpose of market research is to understand consumer needs and market trends.
• To reduce competition in the market
• To increase product prices
• To create advertising campaigns

Which of the following is an example of primary research?

• Conducting surveys or interviews
• Collecting data from secondary sources
• Reviewing past research studies
• Analyzing existing literature

A focus group is:

• A type of experiment involving controlled variables.
• A statistical analysis technique for numerical data.
• A method for conducting surveys with large populations.
• A small group of people giving opinions on a product

Secondary research involves

• creating surveys to gather opinions
• gathering existing data and information
• conducting interviews to collect new data
• analyzing raw data from experiments

Which of these is NOT a method of market research?

• Focus Groups
• Interviews
• Guessing
• Surveys

Market research helps businesses make better decisions.

• True

• False

A survey is an example of secondary research.

• False
• True

Businesses conduct market research to reduce risks.

• True

• False

Market research is only useful for big companies

• False
• False

Interviews and focus groups are part of primary research.

• True
• False