Market Research Activity

What is the main purpose of Market Research?

• To create business logos

• To guess what customers want

• To gather and analyze data about a market

• To increase employee salary

Which of the following is a primary research method?

• Surveys and interviews

• Internet blogs

• Government reports

• News Articles

A focus group usually includes:

• Just one individual sharing opinions

• A group of 20–30 people taking a test
  
  

• Online users answering polls

• A small group (6–10 people) discussing a product

What is the first step in conducting market research?

• Collecting data

• Designing the research tools

• Defining the problem

• Analyzing the result

An example of secondary research is:

• Reading published market reports

• Holding a focus group

• Conducting a live interview

• Giving a product sample to a customer

What does observation in market research involve?

• Guessing what customers might do

• Watching customer behavior without interfering

• Reading articles online

• Asking customers to write feedback

Which method best suits quantitative data collection?

• Focus group discussions

• Observing behavior

• Personal interviews

• Surveys and questionnaires

Why is market segmentation analysis important?

• It helps in dividing competitors into smaller groups

• It divides the market into groups based on characteristics

• It identifies unrelated markets

• It merges markets into one

Which of the following is NOT a purpose of market research?

• Testing product ideas

• Understanding customer needs

• Increasing Taxes

• Reducing business risks

What does a researcher do in the “Analyze Data” step?

• Interpret results from the research

• Write a Business Plan

• Gather information from the target market

• Define the research problem again