Market Research Quiz

What is the main purpose of market research?

• To reduce production costs

• To estimate business tax

• To understand customer needs

• To increase employee wages

Which of the following is a method of primary research?

• Government reports

• Online articles

• Questionnaires

• Industry statistics

Which of the following is an example of secondary research?

• Observation

• Surveys

• Company sales reports

• Interviews

One disadvantage of primary research is:

• Data is readily available

• Data may be outdated

• It is time-consuming

• It is always inaccurate

What is quantitative data?

• Opinions from customers

• Feedback on quality

• Data involving numbers

• Descriptions of experiences

What is a focus group?

• A survey conducted by phone

• An online questionnaire

• A group discussion for opinions

• A method of observation

Which of the following is not a feature of secondary research?

• Inexpensive

• Time-saving

• Specific to business needs

• May be outdated

Which of these best describes random sampling?

• Selecting based on age

• Every person has equal chance

• Choosing most loyal customers

• Selecting only people from a city

Why might a business use market research?

• To pay less tax

• To predict market trends

• To increase government aid

• To train employees

A company sends a survey to its current customers. This is an example of:

• Product development

• Market segmentation

• Customer feedback

• Secondary research