1.2.1 & 1.2.2 - Customer needs & market research (PART B)

1.2.1 & 1.2.2 - Customer needs & market research (PART B)

9th - 10th Grade

12 Qs

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1.2.1 & 1.2.2 - Customer needs & market research (PART B)

1.2.1 & 1.2.2 - Customer needs & market research (PART B)

Assessment

Quiz

Business

9th - 10th Grade

Medium

Created by

P Bell

Used 49+ times

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a reason why businesses conduct market research?


To identify and understand:

Employee needs

Shareholder needs

Customer needs

Manager needs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes a type of survey that involves asking a series of questions to respondents to find out specific information to meet business needs?

Observation

Questionnaire

Government report

Market report

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Information regarding total market sales and individual business sales in that market can be gathered via market research. The data collected can be used to calculate:

Market share

Profit

Cash-flow

Break even

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements best describes the term primary market research?

Data collected first-hand for a specific purpose

Data already collected for a specific purpose

Data collected first-hand for a general purpose

Data already collected for a general purpose

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Lifestyle changes in today’s society has meant that many people no longer have the time to cook and prepare meals from scratch. As a result, the ready meal market has grown significantly over recent years. Which customer need is the ready meal market primarily meeting?

Price

Quality

Choice

Convenience

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit to a start-up business of identifying and understanding customer needs?

Increased possibility of survival

Lower chance of breaking even

Customer demand for its products will be minimal

Increased risk of making costly mistakes

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following questions is most likely to result in the gathering of qualitative data?

Why?

How many?

When?

How often?

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