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WorksheetsChapter 9 Review
Total questions: 20
Worksheet time: 10mins
Maximum number of companies an industry can
support based on its potential customer base.
business environment
carrying capacity
focus group
market
Group of potential customers who are willing and able to purchase a particular product or service.
business environment
carrying capacity
focus group
market
Existing information that was previously gathered for a purpose other than the study at hand.
market research
primary data
secondary data
focus group
A research method used to collect opinions and feedback from a group of people about a specific product, concept, or service
market research
primary data
secondary data
focus group
Research technique that asks customers to interact with the product while experts observe their experience.
UE testing
market research
marketing
focus group
Any social, economic, or political factors that could
impact your business including global, national, and
industry-related factors.
business environment
carrying capacity
list-rental companies
market
Organized way to gather and analyze information
needed to make business decisions.
focus group
market research
market
carrying capacity
Provides names and contact information for specific
groups of consumers or businesses for the purpose target marketing.
focus group
primary data
list-rental company
secondary data
New information that is collected for a particular purpose. It is obtained directly from potential customers.
primary data
secondary data
market research
list-rental
What three key areas does market research tend to focus?
Customer
Competition
Business Environment
All of the above
Market research helps businesses
Make costly mistakes
Be more environmentally friendly
Avoid costly mistakes
Share information with consumers
Social media can also be an important source of
primary data
secondary data
survey data
primary and secondary data
Which is not true about market research
makes a business more attractive to investors and lenders.
is too costly for businesses
allows businesses to test prototypes
provides evidence that a business is viable.
Which is a technique for collecting secondary data
conducting a focus group
hosting a survey
collecting data from government website
UE testing
Market research only needs to be done before starting a business.
True
False
Secondary data is easier and less expensive to collect.
True
False
Primary data always comes directly from a group of customers.
True
False
Information collected from trade journals, business magazines, and websites are considered
primary data
secondary data
While research is important for success in business, there are _______ to market research.
limitations
high costs
benefits
obstacles
Why is it important to determine if a research question will be answered by primary or secondary data?
collecting secondary data is time consuming
primary data is better
to collect information in most effective manner
primary data should be used first
