Market research

Why do businesses use market research?

• To identify customer needs

• To sell goods and services

• To advertise

What is information collected about opinions and views called?

• Quantitative data

• Qualitative data

• Segmentation

How does accurate market research help a business?

• By avoiding risk

• By reducing risk

• By eliminating risk

Which of these types of research/data produces results in numbers, percents, etc.?

• Qualitative

• Quantitative

Fill in the blank:

(a)   market research is research that you do yourself

Which of these is a form of primary market research?

• Questionnaire

• Focus group

• Observation

• All of the above

The census is an example of primary research.

• True

• False

Select 2 benefits of focus groups

• Conversations are consistent leading to more accurate results

• Body language can give a better indication of opinions

• Participants might request an incentive

• Participants might lie

(a)   involves selecting a small sample of participants to test the new product

Which primary market research method involves watching customers in their natural environment?

• Questionnaire

• Observation

• Customer trial

• Survey