Chapter 21 - Market Research

What is the primary purpose of market research?

• To enhance employee satisfaction

• To gather, record, and analyze information about consumer preferences

• To increase the production of goods

• To reduce the number of competitors

Which of the following is a benefit of carrying out market research?

• It ensures maximum profit

• It eliminates all competition

• It helps reduce the risk of failure

• It guarantees business success

What is field research also known as?

• Primary research

• Desk research

• Tertiary research

• Secondary research

Which method is NOT a type of field research?

• Internet analysis

• Observation

• Focus groups

• Surveys

What is a disadvantage of personal interview surveys?

• They are time-consuming and expensive

• They have a high response rate

• They allow for detailed responses

• They are inexpensive

Which survey method is known for having a very low response rate?

• Personal interview

• Telephone survey

• Postal survey

• Online survey

What is an advantage of online surveys?

• They are the most expensive method

• Responses can be analyzed automatically

• They require face-to-face interaction

• They have a high response rate

What is a focus group?

• A method of desk research

• A group of consumers discussing a product or service

• A type of online survey

• A group of researchers analyzing data

What is a disadvantage of observation as a research method?

• It provides only limited information

• It is the most expensive method

• It is not suitable for large groups

• It requires direct consumer interaction

What is desk research also known as?

• Primary research

• Field research

• Secondary research

• Tertiary research