BTEC Enterprise LOB Market Research

What is the primary purpose of market research?

• To understand the marketplace better

• To increase product prices

• To hire more employees

• To reduce production costs

Which of the following is a disadvantage of secondary research?

• It is always expensive

• It may be old or out of date

• It is always accurate

• It is difficult to find

What is a characteristic of secondary research?

• It is conducted by a business or individual

• It is research that already exists

• It is always tailored to specific needs

• It is always more expensive than primary research

Which of the following is a disadvantage of primary research?

• It is always quick to gather

• It can be costly and time-consuming

• It is always more affordable

• It is always more accurate

What is the purpose of conducting primary market research for a business?

• To analyse competitors' financial statements

• To increase sales or enhance customer awareness

• To develop new product designs

• To improve employee satisfaction

Which method of primary research involves collecting data through open and closed questions?

• Observations

• Focus Groups

• Questionnaire

• Interviews

What distinguishes an observation from a visit in market research?

• Observations involve asking questions to customers

• Observations are conducted online

• Observations look at the behaviors of customers

• Observations are only for new products

In a focus group, who discusses the questions given by the interviewer?

• Market researchers

• Potential customers

• Business owners

• Sales representatives

What is the main characteristic of an interview in primary research?

• It involves a group of people discussing

• It is conducted online

• It involves two people: the interviewer and the interviewee

• It is used to observe customer behavior

What is an advantage of using face-to-face questionnaires?

• Respondents may refuse to answer

• Questions can be followed up further

• Can take a long time waiting for responses

• Not everyone has access to the Internet