Market Research and Gap Analysis Quiz

What is the primary purpose of market research?

• To guess customer preferences

• To systematically gather and interpret information for decision-making

• To increase product prices

• To create advertisements

Which of the following is NOT a goal of market research?

• Mitigating risks through data-driven insights

• Maximizing profit without evidence

• Identifying opportunities

• Informing business decisions

What type of research involves collecting original data directly from sources?

• Quantitative research

• Secondary research

• Qualitative research

• Primary research

Which method is commonly used in secondary research?

• Surveys

• Customer interviews

• Focus groups

• Published reports

What is the focus of qualitative research?

• Measuring numerical data

• Understanding opinions and motivations

• Analyzing industry reports

• Predicting future trends

Which of the following is an example of quantitative research?

• Observing customer behavior in stores

• Open-ended discussions

• Polling customers about satisfaction scores

• Focus groups to gather feedback

What does descriptive analysis aim to explain?

• Why customers behave a certain way

• How to generalize from a sample

• What will happen in the future

• What happened in the past

Which analysis technique uses sample data to make conclusions about a larger group?

• Inferential analysis

• Descriptive analysis

• Predictive analysis

• Gap analysis

What is the goal of predictive analysis?

• To identify gaps in performance

• To measure satisfaction levels

• To summarize past data

• To forecast future trends or behaviors

What is the first step in gap analysis?

• Define the desired state

• Analyze the current state

• Identify the gaps

• Measure the gap