Market Research Quiz

What is market research?

• A type of advertising

• The process of gathering, analyzing, and interpreting information about a market

• A type of product

Why is market research important for businesses?

• It helps businesses make more profit

• It helps businesses understand customer needs and make informed decisions

• It reduces competition

Which of the following is an example of field research?

• Reading a book about consumer behavior

• Conducting surveys to gather customer opinions

• Analyzing sales data from the past year

Which type of research involves gathering information by directly interacting with people?

• Field research

• Desk research

• Market analysis

What is desk research?

• Collecting data from existing sources like books, reports, and databases

• Conducting surveys in the field

• Observing customer behavior in a store

When might a business use field research?

• To analyze historical sales data

• To understand customer preferences through surveys

• To read online reviews

Which research method involves collecting data from existing sources?

• Field research

• Desk research

• Both field and desk research

Which of the following is NOT a reason why market research is important for businesses?

• To understand customer needs

• To reduce competition

• To make informed decisions