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WorksheetsBTEC Business Unit 9 Theme 2
Total questions: 50
Worksheet time: 2hrs 39mins
Which of the following statements best describes market research
The collection and analysis of data from both primary and or secondary sources.
The use of questionnaires to collect information
The use of government reports to identify market trends
The increase in a business’s sales resulting from changes it has made to its products after it has acted upon market research findings.
Which of the following statements best describes primary market research.
Primary market research is research which is on only found in government reports
Primary market research is research which was originally collected by another business for a different purpose
Primary market research is original research collected by or on behalf of a business, by a market research agency.
Primary market research is only used to collect and analyse qualitative market research data
Which of the following are examples of primary market research methods. Note that more than one answer may be correct.
Reading And analysing government reports on population trends
Collecting information using focus groups
Identifying market trends by reading trade journals
Collecting information using telephone surveys
A focus group is?
A method of secondary market research
Research which focuses on the collection of only quantitative data
A group of market researchers who meet to focus on and discuss the findings of their market research
A group of people who meet to discuss what they like and dislike like about specific products or services which the market researcher is collecting data on.
Two key features of primary market are
It is usually less costly than carrying out secondary market research
It is original research which relates to a specific agreed purpose
It is only available to the business which has paid for the research to be carried out on its behalf.
It is usually quick and easy to collect
Which of the following are examples of primary market research. Note there are three correct answers.
Consumer panels
Reading market research surveys
Looking at a competitor’s annual reports
Face to face interviews
Postal surveys
If a business asks its customers to fill out an online survey for market research purposes, this is an example of
Secondary market research
Focus group research
Primary market research
Customer relations
Quality control
Two advantages of using postal surveys as a primary research method are
Postal surveys can cover a wide geographical area.
If people completing the survey don’t understand a question they can ask the market researcher to explain it to them
Response rates are low with very few people returning them.
They can be used to collect both quantitative and qualitative data
A consumer panel could be described as
A group of consumers who meet up to have a coffee after completing their shopping
A method of secondary market research
A method of primary market research
A method of collecting quantitative market research
Another name for primary market research is
Mud research
Pond research
Field research
Grass research
Secondary market research is
Market research data collected using surveys and questionnaires.
Market research where the market researcher uses information which already exists.
Market research which includes only quantitative data
Market research which includes only qualitative data
Two examples of secondary market research sources are
Consumer panels
Sales figures of competitors
Observation experiments
Government reports on economic trends
Two advantages of using secondary market research include
It is usually cheaper to collect than primary research
It could be out of date
There are lots of secondary research resources available
It is always accurate and reliable
One disadvantage of using secondary sources of market research is
It is more expensive to collect than primary research
It is only available to qualified market researchers
Sources of secondary research are usually very limited and difficult to access
Other people and businesses will have access to it
Secondary market research is sometimes referred to as
Desk research
Field research
Book research
Old research
Quantitative market research data is
Information which gives the market researcher an indication as to what the opinions of people are
Information about consumers’ opinions
Information which is never collected on a weekend
Factual and statistical information which can be used to identify trends.
Quantitive data could best be described as
Facts and figures
Information on consumers’ opinions
Information which can only be collected on a Thursday
Information which is 100% reliable and accurate
Which of the following is an example of quantitative market research data?
30% of people visited the theme park on Friday
Customers expressing a range of opinions about which theme park rides they like and why
Customers making suggestions about how they think facilities at the theme park could be improved
Customers explaining what factors are important to them when choosing a theme park to visit
Which of the following two options are examples of quantitative research data?
Information on the reasons why consumers purchase some products and not others
Monthly sales figures
Information from a consumer panel where research has been conducted into what features of a new product consumers like and dislike
Economic data on levels of consumer spending in the economy.
Which of the following questions would help a market researcher to collect quantitative data?
Could you tell me about any features of the product you dislike?
Would you buy the product? YES or NO.
Which of the following statements most accurately defines the term qualitative data?
Qualitative data is statistical data which enables market researches to identify market trends.
Qualitative data provides the market researcher with facts and figures relating to consumer preferences.
Qualitative data data is only collected using secondary market research methods
Qualitative data is data which gives market researchers an in-depth insight into consumer opinions and preferences
Qualitative market research can be used to
Collect sales data
Collect statistical information about trends in the economy
Help the market researcher achieve a more in-depth understanding of the reasons which lay behind consumer preferences and behaviour rather than just identifying trends in their spending patterns and behaviour
Draw graphs and charts which will help market researchers to identify sales trends.
SWOT analysis is an example of
Standard analysis
Super analysis
Strength analysis
Situational analysis
The S in SWOT stands for
Simple
Strength
Statement
Social
The W in SWOT stands for
Weather
Weight
winner
Weakness
The O in SWOT analysis stands for
Opinion
Opposition
Opportunity
Opposite
The T in SWOT analysis stands for
Time
Technology
Threat
Team
Which two of the following could be considered strengths of a business
A reputation for good customer service
A rise in the cost of a business’s raw materials following a rise in inflation
A reputation for producing quality goods and services
A rise in demand for the business’s products after a competitor goes out of business.
Which two of the following could be considered as Weaknesses of a business
The business has high production costs
The business’s products have a strong unique selling point
The business has a reputation for selling poor quality products
A major competitor leaving the market has helped the business to increase its sales
Which two of the following could be examples of opportunities.
A major competitor leaving the market
A rise in the number of competitors in the market
A fall in levels of inflation reducing raw material prices
Difficulties recruiting new members of staff
Which two of the following are possible examples of threats which businesses may experience
The government reduces taxes which businesses pay on their profits
New competitors enter the market
A change in the law makes it more more difficult to sell products on the internet
A fall in unemployment creates more demand for a business’s goods and services.
The P in PESTLE analysis stands for
People
Place
Political
Population
The two Es in PESTLE analysis stand for
Ethical and Europe
Europe and Environmental
Economic and Environmental
Economic and Europe
The S in PESTLE stands for
Shares
Size
Sample
Social
The T in PESTLE stands for
Time
Technological
Trends
Threat
Two examples of Political factors which may have an impact on a business are
Brexit
A fall in inflation rates
An increase in the size of the UK’s population
A change in the government from a Conservation to Labour government.
Which two of the following are examples of economic factors
A rise in interest rates
A fall in unemployment
An increase in the birth rate
An increase in the number of internet users
Which of the following are examples of social factors
A fall in taxes
An increase in the size of the UK’s population
A change in the law which requires business’s to recycle more of their waste
A change in working patterns meaning that more women join the UK’s workforce.
Two environmental factors could include
Businesses reducing pollution by introducing new working practices
Businesses recycling more of their waste
An increase in interest rates
Brexit
The L in PESTLE stands for
Late
Look
Lines
Legal
Which two of the following are legal factors
Health and Safety legislation
A rise in the size of the UK’s population.
Employment legislation
A fall in unemployment
Market share is
The percentage number of sales a business makes in a particular market
An increase in the number of goods a business sells
A fall in the number of goods a business sells
The number of firms who sell goods in a market
Which of the following would indicate that a market is experiencing a period of growth
The value of sales in the market is falling.
Businesses are leaving the market
The value of sales in the market is increasing
Firms in the market are going out of business
A business’s target market is
A group of customers, with a particular set of characteristics in common, which a business will focus on selling its products to.
A market which is a target for criminals and criminal activities
A market where a business will set a target of increasing sales
A market where a business will target its marketing activities at a small number of customers.
A niche market is
A market where a large group of customers have the same types of needs and buy very similar products
A market where goods or services are sold at a discount price
A market where a small group of customers have specific needs
A market where standardised products are sold to a large group of consumers.
Which two of the following could result in an increase in a business’s market share?
Competitors leave the market
New competitors enter the market
A competitor cuts its prices
The business benefits from a successful advertising campaign
A mass market is one where
A market in which only ‘massive’ or large products are sold
A market where standardised (very similar) products are sold to a large number of customers
A market where a small number of customers have very specific needs
A market in which the business only produces products on a small scale
An example of technological factors could be
Improvements in internet technology
A fall in interest rates
An increase in the size of the population
A change in government
If sales in a market are falling the market will be
Growing
Declining
Generating more sales revenue
Attracting new businesses
A business’s market share could decline
If a business’s competitors leave the market
If the business introduces new products
If the business faces more competition within the market
If the business benefits from a successful advertising campaign
