Marketing Research Quiz

What is the primary purpose of marketing research?

• To increase the price of products

• To create advertisements for products

• To hire more employees

• To gather and analyze information related to marketing goods and services

Which of the following is NOT a method used in marketing research?

• Observing customer behavior

• Astrology

• Interviews

• Surveys

Why is it important for businesses to use marketing research?

• To avoid paying taxes

• To reduce the quality of products

• To increase the number of employees

• To minimize risk and meet customer needs

What can marketing research help determine about consumers?

• Their political views

• Their attitudes and preferences

• Their favorite movies

• Their favorite sports teams

How can marketing research benefit a company?

• By making decisions based on guesses

• By reducing the risk of product flops

• By increasing the cost of production

• By hiring more managers

What is an example of testing product features before launch?

• Conducting a taste test for a new soda flavor

• Changing the color of a product

• Reducing the size of a product

• Increasing the price of a product

What analogy is used to describe marketing research?

• A key to a locked door

• A ladder to success

• A flashlight in a dark room

• A map in a treasure hunt

What was the lesson learned from Coca-Cola's 'New Coke' introduction?

• Changing formulas is always beneficial

• Customer feelings should be considered

• Taste tests are always reliable

• Surveys are unnecessary

What can marketing research reveal about competitors?

• Their employee salaries

• Their office locations

• Their product strategies

• Their financial statements

How does marketing research help with pricing?

• By setting prices based on competitors' salaries

• By increasing prices randomly

• By determining optimal pricing and buying patterns

• By reducing prices to the lowest possible