IB BM 4.4 Market Research

Which of the following statements does not apply to desk or secondary research?

• It involves the collection of second hand data that already exists

•   It relies on market analyses, media articles or government publications

•  It often includes the use of surveys, interviews and observations

• It can be cheaper and faster to collect

Which of the following sources of information is not an example of secondary research?

• Telephone surveys

• Academic journals

• Government publications

A form of primary market research that involve researchers watching, monitoring and recording how customers behave or react to certain situations.

Which of the following is not an example of primary market research?

• Surveys

• Interviews

•  Mass media articles

• Focus groups

Market research method that involves dialogue between the interviewer (the market researcher) and the interviewees (respondents to the market research).

Which type of market research involves collecting new data first-hand, directly related to a firm’s needs?

• Primary research

• Quantitative research

• Qualitative research

• Secondary research

Sampling method that selects anyone in the population for market research, allowing all respondents the same equal chance of being selected

Why organizations carry out market research?

• To reduce the risks associated with new product launches

• to raise capital in hopes of expanding

• to generate capital to help reduce debt

• To predict future demand changes

Focus groups are a group of people who are asked about their attitude towards a product, service, advertisement or new style of packaging.

• True

• False

Which are disadvantages of primary market research?

• New online technologies mean that surveys can be completed much quicker, easier and cheaper.

• Findings can be unrepresentative and misleading due to deficiencies in primary market research.

• Can delay decision-making due to the prolonged time involved

• Data collection and findings are unique and exclusively held by the firm, potentially providing it with a competitive advantage.