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WorksheetsMarket Research
Total questions: 21
Worksheet time: 12mins
Why do businesses use market research?
To identify customer needs
To sell goods and services
To gain information about competition
What does desk research involve?
Gathering new data
Gathering existing data
Conducting surveys
What is information collected about opinions and views called?
Quantitative data
Qualitative data
Segmentation
How does accurate market research help a business?
By avoiding risk
By reducing risk
By eliminating risk
What does a market segment identify?
All the products in the market
Competitors
Groups of people with similar buying habits
What are the total number of people selected to answer market research questions called?
A supplier
A sample
A respondent
Which of the following is an example of primary research?
Internet research
A focus group
Company reports
What is the guidance for the maximum number of people to involved in a focus group?
(a)
What is market segmentation?
The process of splitting up a business into different departments
The process of splitting up a target market into different groups
The process of splitting up the products of a business into different categories
What does geographical segmentation refer to?
Splitting up a target market based on location
Splitting up a target market based on the sports the people play
Splitting up a target market based on how much money the people earn
What does demographic segmentation relate to?
Demographic segmentation considers where people are located
Demographic segmentation considers people’s interests and hobbies
Demographic segmentation considers people’s characteristics such as income and gender
What is a gap in the market?
An area of the market where there is demand, but no or little supply of a product
An area of the market that is highly populated by other products and services
An area of the market where there is no demand but a lot of supply
What type of data can be collected from this part of a trip advisor review?
(a)
What type of data can be collected from this part of a trip advisor review?
(a)
Which of these is an advantage of secondary research?
It is not specific to the business
It is quick and easy to gather
It could be out of date
Why is having reliable market research data important?
It allows the business to make properly informed decisions
It means the business will make errors because of false information
It allows businesses to copy their competitors
Which of these is a key characteristic of quantitative data?
It is expressed as words and opinions
It takes a long time to gather and is difficult to analyse
It can be displayed in charts and graphs
What does USP stand for?
Unique selling point
Unique selling price
Unique selling potential
What is a niche market?
a French food market
a small specialised market
a large open market
a personalised market
Which market segmentation method is selected when classifications of age, gender or income are used
Behavioural
Psychographic
Demographic
Geographic
Which of these is the odd one out?
convenience
choice
promotion
quality
