Market Research

There are _ methods of market research

• 4

• 5

• 6

• 7

This method is also known as "Direct Data Collection"

• Primary

• Secondary

• Qualitative

• Quantitative

• Product Testing

This method is also known as "Existing Data Analysis"

• Primary

• Secondary

• Qualitative

• Quantitative

• Product Testing

A new fast-food restaurant studies its rivals' menu and prices in order to decide theirs.

• Primary

• Secondary

• Qualitative

• Quantitative

• Competitive Analysis

This method is also known as "Exploratory & Opinion-Based"

• Primary

• Secondary

• Qualitative

• Quantitative

• Product Testing

This method is also known as "Data Driven & Statistical"

• Primary

• Secondary

• Qualitative

• Quantitative

• Product Testing

This method involves creating a sample for customers to try out and give feedback.

• Primary

• Secondary

• Qualitative

• Quantitative

• Product Testing

Netflix collects data on how many users watch specific genres and at what time.

• Primary

• Secondary

• Qualitative

• Quantitative

• Product Testing

A coffee shop surveys its customers to determine possible new flavors.

• Primary

• Secondary

• Qualitative

• Quantitative

• Product Testing

Market research focuses on understanding customer preferences, demand and market conditions.

• True

• False