Y11 Business Studies - C11 Market Research

What is the definition of market research?

• The process of manufacturing goods

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

• The process of selling products

• The process of advertising a product

What is a characteristic of product-orientated businesses?

• Have a large marketing budget

• Conduct extensive market research

• Make the product first, then sell it

• Focus on customer needs

What type of information does quantitative research provide?

• Opinions and judgments

• Qualitative insights

• Statistical data

• Customer preferences

Which of the following is an advantage of primary research?

• Data is outdated

• Information is not available to other businesses

• It is always cheap

• It is quick to obtain

What is a disadvantage of using questionnaires for primary research?

• They can be conducted online

• They can be time-consuming and expensive

• They provide detailed qualitative information

• They are easy to encourage participation

What is secondary research also known as?

• Market analysis

• Customer feedback

• Field research

• Desk research

What is a random sample?

• A group of loyal customers

• A group selected at random

• A group selected based on specific characteristics

• A group of competitors

Which factor does NOT influence the accuracy of market research data?

• The color of the questionnaire

• The age of the information

• The way the questionnaire is constructed

• The size of the sample

What is one method of presenting market research data?

• A written essay

• A phone call

• A table

• A verbal presentation

What is a characteristic of market-orientated businesses?

• They focus on the product first

• They conduct market research before product development

• They do not have a marketing budget

• They only sell locally