3.2 Market Research Quizs

Market research

• is the process of gathering, analysing and producing data relevant to the marketing process.

• is the study of consumer behavior and preferences.

• is the analysis of financial data to predict market trends.

• is the evaluation of advertising effectiveness in various media.

Primary market research

• gathers data for the first time for a specific purpose.

• analyzes existing data to draw conclusions.

• is conducted by third-party organizations only.

• is less expensive than secondary research.

Focus group

• is a small number of people gathered together to talk about a particular issue in open discussion.

• is a method used to collect quantitative data from a large population.

• is a type of survey conducted online to gather opinions.

• is a formal meeting where decisions are made by a board.

Reliability of market research

• Refers to the extent to which the same results would be received if the research was conducted again.

• Indicates the accuracy of the data collected during the research.

• Measures the cost-effectiveness of the research process.

• Assesses the variety of methods used in the research.

Validity of market research

• refers to how accurate the findings of market research are.

• is determined by the number of surveys conducted.

• depends on the marketing budget allocated.

• is irrelevant to the decision-making process.

Sample

• is a group of people selected to represent the population as a whole.

• is a random selection of items from a larger set.

• is a method of collecting data from a single individual.

• is a statistical technique used to analyze data.

Secondary market research

• uses data that already exists.

• creates new data through surveys and experiments.

• analyzes data from primary research only.

• focuses on qualitative data exclusively.