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WorksheetsThe Role of Market Research & Method Used
Total questions: 10
Worksheet time: 11mins
What is market research?
The process of collecting, analysing, and interpreting information that provides businesses with important information
The process of attracting potential customers and clients to a product or service
The process of determining how to price and advertise the product as well as how to best distribute it to consumers
The process involving paying for space to promote a product, service, or cause
Which one is a market-oriented business?
The business develops products based on what they're good at producing.
The business will do market research to know what goods it should produce.
The business creates the product first, then looks for a market for it.
The business focuses on product improvement and cost-cutting in the production process.
Can market research determine the product's strengths and flaws?
YES
NO
What information does market research give to a business?
- The customers
- The profit
- The competitors
- The customers
- The competitors
- The market
- The customers
- The employees
- The competitors
Can the information obtained from market research predict demand?
YES
NO
Is secondary research a research method that uses data that was collected yourself?
YES
NO
Which one is a primary research example?
textbooks
published market studies
analyst report
interviews
Quantitative research provides what data?
numbers, tables, graphs, or charts
People's feelings about the goods, case studies, audio recordings, etc.
How can the information obtained from market research help a business?
Help identify the market size
Help promote a company and its products.
Help keep track of all financial transactions.
Help enhance efficiency and maximize profit.
If the secondary data is out of date.
Can it be the reason why the data is inaccurate?
YES
NO
