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WorksheetsMarket Research / Target Market Review
Total questions: 28
Worksheet time: 28mins
Why do businesses use market research?
To identify customer needs
To sell goods and services
To gain information about competition
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
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 type of data can be collected from this part of a trip advisor review?
quantitative
qualitative
What type of data can be collected from this part of a trip advisor review?
qualitative
quantitative
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
Which market segmentation method is selected when classifications of age, gender or income are used
Behavioural
Psychographic
Demographic
Geographic
Why do businesses use market research?
To identify customer needs
To sell goods and services
To advertise
Which of the following questions is market research not likely to find an answer to?
Would consumers be likely to buy my product?
Which method of production should I use?
What price would consumers be likely to pay?
Which businesses will be the main competitors?
Which of the following best defines primary market research?
It is data collection that always produces quantitative data
It uses information that has already been collected
It is also known as desk research
It gathers original data by contacting consumers directly
To buy a product, customers in a market must first
locate the product in a store.
learn the product’s features.
make sure the product is on sale.
be willing to buy the product.
