Font size
WorksheetsMethods of Market Research
Total questions: 11
Worksheet time: 6mins
By the end of this lesson you should be able to....
Describe differences between quantitative & qualitative research
Explain how Primary and Secondary research are dissimilar
Evaluate various research techniques
Recommend a research method for a business
All of the above (fingers & toes crossed)
Imagine the market share of a product is 5% & it has sales of $80,000. how much are total sales in the Market?
1,000,000
1,400,000
1,200,000
1,600,000
Market Research is beneficial to businesses because...
it helps them 'turn the light off'
it helps them 'turn the light on'
It helps them 'turn the light off & operate blind'
it helps them 'turn the light on' and make better decisions by gathering information about market conditions.
Which of the following is not qualitative data...
Interviews
Market Growth
Focus Groups
Experimenting
Which one of the following is an advantage of Primary Research?
It is quick & cheap to collect
Can be tailored to meet a businesses needs & is up-to-date
The data may be out of date
There is an abundance of information already available
Market research is useful for businesses because...
They can evaluate what promotional activities worked best?
They can calculate for definite how much product demand will be?
They could identify products that are already popular?
Total Market SalesSales of productX 100 is the formula for?
Market Size
Market Share
Market Growth
What is meant by 'Primary Market Research'?
AKA 'Desk' research it involves data that already exists
Gathering information first hand
AKA field research, it involves gathering information first hand
AKA field research, it involves gathering information first hand e.g through surveys/observations
Which method of data gathering is NOT a survey?
Focus Group
Experimenting
Cold Calling
Questionnaire
Which of the following is a disadvantage of a telephone survey?
Information may not reflect the businesses target market
Can get an in-depth response
Can be time-consuming
Cannot study how people react based on body language
A market map shows...
how consumers view a product?
where a businesses product is sold?
how many consumers buy a product?
why consumers buy a businesses product?
