WorksheetsMarket Research S3
Total questions: 28
Worksheet time: 14mins
What is the primary reason a business conducts market research?
To increase production capacity
To estimate employee satisfaction
To understand customer preferences and market trends
To improve financial accounting
Which of the following best explains how market research supports decision-making?
It guarantees higher profits
It removes all business risk
It provides data to evaluate potential strategies
It ensures legal compliance
Market research helps organizations reduce:
Their marketing budgets
The risk of launching unsuccessful products
The quality of product design
Their overall tax obligations
Which method involves direct, in-depth conversation with one participant at a time?
Focus group
Interview
Survey
Observation
Finish the sentence correctly. Market research is the process of......
marketing your goods or services
gathering, and analysing information concerning a specific market
selling your goods or service to the maximum number of customers
developing marketing materials
To identify your target market, you need to know
who your customers are
how old your customers are
where your potential customers currently shop
all of the above
Which of the following is not an example of primary data?
a survey
statistics from a government website
observation of customer behavior
all of the above are examples of primary data
Sources of secondary data include all of the following except
customer feedback from a survey
publications issued by government and community organizations
trade magazines and websites
newspaper articles
True or False: Two disadvantages of collecting primary data are the costs and time involved.
True
False
It is difficult for small businesses to compete with large retailers because
large retailers are able to order and stock products in larger quantities
large retail chains don’t rely on a single product line
large companies have more resources to devote to advertising
all of the above
Which of the following is not a good way to get customer feedback?
check with your competition
call customers the day after they make a purchase
use a customer feedback box
have customers complete a survey after shopping with you
You can describe a market segment as
A group of similar products
A part of the market that contains a group of buyers with similar buying habits
A part of the market that contains a group of buyers with different buying habits
A list of factors linking to target audiences
Tangible products, e.g. chocolate bars
Services
Goods
Products
Market items
Where customers and firms trade
Market size
Online platform
Market
Supermarket
A business can understand the needs of its customers by
Conducting market research
Making the best possible product
Setting a lower price than competitors
Having special offers such as buy one get one free
The role of marketing is to undertake market research in order to understand the needs of customers
True
False
Many large businesses spend millions of pounds on their marketing
True
False
There are 2 types of market research
True
False
Field research is
Primary research
Secondary research
Select 2 examples of field research
Surveys
Focus Groups
Competitor's websites
Newspapers
Desk research is also known as...
Primary research
Secondary research
Why do companies complete market research? (pick 3)
To identify consumer needs and wants.
To find out a suitable price for their products
Identify customer ages
To gain information about consumer trends
Primary research is first-hand information. It has been collected by a business for a specific purpose.
True
False
