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WorksheetsIB BM 4.4 Market Research
Total questions: 20
Worksheet time: 12mins
Which of the following statements does not apply to desk or secondary research?
It involves the collection of second hand data that already exists
It relies on market analyses, media articles or government publications
It often includes the use of surveys, interviews and observations
It can be cheaper and faster to collect
Which of the following sources of information is not an example of secondary research?
Telephone surveys
Academic journals
Government publications
A form of primary market research that involve researchers watching, monitoring and recording how customers behave or react to certain situations.
(a)
Which of the following is not an example of primary market research?
Surveys
Interviews
Mass media articles
Focus groups
Market research method that involves dialogue between the interviewer (the market researcher) and the interviewees (respondents to the market research).
(a)
Which type of market research involves collecting new data first-hand, directly related to a firm’s needs?
Primary research
Quantitative research
Qualitative research
Secondary research
Sampling method that selects anyone in the population for market research, allowing all respondents the same equal chance of being selected
(a)
Why organizations carry out market research?
To reduce the risks associated with new product launches
to raise capital in hopes of expanding
to generate capital to help reduce debt
To predict future demand changes
Focus groups are a group of people who are asked about their attitude towards a product, service, advertisement or new style of packaging.
True
False
Which are disadvantages of primary market research?
New online technologies mean that surveys can be completed much quicker, easier and cheaper.
Findings can be unrepresentative and misleading due to deficiencies in primary market research.
Can delay decision-making due to the prolonged time involved
Data collection and findings are unique and exclusively held by the firm, potentially providing it with a competitive advantage.
this draws a sample from a specified sub-group or segment of the population and uses random sampling to select an appropriate number from each stratum
Random sampling
Snowball sampling
Convenience sampling
Stratified sampling
Which term describes mistakes arising from sampling design?
Bias
Non-sampling errors
Sampling errors
Errors and omissions
Which term describes marketing activities that attempt to discover the preferences, opinions and beliefs of existing and potential customers?
Product positioning
Sales forecasting
Market research
Market analysis
Method of data presentation when time is one of the variables and when two or more sets of time-series data need to be compared
Tables
Line graphs
Bar charts
Pictogram
Method of presentation that shows the relative importance of sections or segments out of a total result
Line graph
Bar graph
Histogram
Pie chart
Often used for making comparisons between sets of data. Example: attendance at football clubs
Mean
Mode
Median
As the most frequently ocurring, the result could be used for stock-ordering purposes
Mean
Mode
Median
Disadvantages are:
Calculation from grouped data is not straightforward and there is an element of inaccuracy when doing this. • When there is an even number of items in the results, its value is approximated. • It cannot be used for further statistical analysis.
Mean
Mode
Median
Advantage: it is easily observed and no calculation is necessary. The result is a whole number. Easily understood.
Mean
Mode
Median
group of people taking part in a market research survey selected to be representative of the target market overall.
Sample
Sampling error
Random sampling
Quota sampling
