Customer needs & Market Research

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

To identify and understand:

• Employee needs

• Shareholder needs

• Customer needs

• Manager needs

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

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

An independent coffee shop offers customers a wide selection of coffee types. Which of the following customer needs is being met:

• Convenience

• Choice

• Quality

• Price

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

Which of the following is most likely to be a benefit of collecting data via focus groups?

• The data collected is usually quantitative and easy to analyse

• Detailed information can be collected about consumer tastes

• They are quick and inexpensive to conduct

• A large sample size is usually involved making the data fully reliable

Which two of the following are examples of secondary research?

Select two answers:

• Questionnaires

• Internet

• Surveys

• Government reports

• Focus groups

Ryobi sends out a survey to past purchasers of their portable drill

• Primary

• Secondary

2. Information that cannot actually be measured is

• Qualitative data

• 
  

  Quantitative data

• 
  

  an Inference

• an Observation

5. Match the statement below to the correct description:

That man is very tall.

• Qualitative

• Quantitative