IGCSE Business Studies - 3.2 Market Research Quiz

Market-oriented businesses focus on:

• Reducing production costs

• Identifying and meeting customer needs

• Increasing inventory levels

• Improving supplier relationships

How does market research benefit a business?

• It guarantees high profits

• It eliminates competition

• It helps identify customer preferences and market trends

• It reduces the need for product development

Which of the following is an example of primary research?

• Reviewing a government report

• Conducting a focus group

• Accessing online market data

• Purchasing a commercial research report

A key limitation of primary research is:

• It is not specific to the business’s needs

• It may be outdated

• It can be time-consuming and expensive

• It is limited to online sources

Which of the following is an advantage of secondary research?

• Provides up-to-date and specific data

• Requires fewer resources compared to primary research

• Is not influenced by competitors’ actions

• Ensures complete accuracy

Which method of primary research involves collecting responses via the internet?

• Postal questionnaire

• Online survey

• Interview

• Focus group

One advantage of using postal questionnaires is:

• High response rates

• Low costs compared to other methods

• Convenience for participants

• The ability to gather detailed personal feedback

A business conducting in-depth discussions with a small group of customers is engaging in:

• Online surveys

• Focus groups

• Telephone interviews

• Observational research

What is a major limitation of focus groups?

• They cannot generate qualitative data

• Participants may not express honest opinions

• They are less expensive than other methods

• They only target mass markets

Why is sampling used in market research?

• To collect data from the entire population

• To make research faster and more cost-effective

• To ensure complete accuracy of data

• To avoid using qualitative methods