Exploring Market Research Concepts

What is primary data collection?

• data collected directly from the sources

• Collecting data from existing studies

• Using data from secondary sources

• Gathering data through online surveys

Name one method of primary data collection.

• Interviews

• Focus Groups

• Surveys

• Observations

What is secondary data analysis?

• Using data exclusively from primary sources

• Collecting new data for a specific study

• Analyzing data collected for the same purpose

• data that was collected by someone else

Give an example of secondary data.

• Census data

• Personal interviews

• Market analysis

• Survey results

What is the main difference between qualitative and quantitative data?

• Qualitative data is numerical; quantitative data is descriptive.

• Qualitative data is descriptive; quantitative data is numerical.

• Qualitative data is always more accurate than quantitative data.

• Quantitative data is subjective; qualitative data is objective.

Which type of data is typically numerical?

• Categorical data

• Quantitative data

• Qualitative data

• Textual data

What is a survey?

• A survey is a method for conducting interviews.

• A survey is a form of qualitative research.

• A survey is a type of statistical analysis.

• A tool for collecting data from a sample of individuals.

List one advantage of using surveys for data collection.

• They require minimal planning and design.

• They can reach a large audience quickly.

• They are always free to conduct.

• They provide in-depth qualitative data.

What is one benefit of conducting market research?

• It guarantees increased sales.

• It eliminates competition.

• It reduces marketing costs.

• It provides insights into customer preferences.

What is a disadvantage of secondary data?

• Easier to analyze than primary data.

• High cost of data collection.

• Lack of specificity to current research needs.

• Always up-to-date and reliable.