ME11 3.03 Market Research

ME11 3.03 Market Research

Assessment

Interactive Video

Business

9th - 12th Grade

Medium

Created by

Angela Royster

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What is the primary purpose of market research for a business?

To gather information about competitors' pricing strategies

To create products and services that meet the needs of their target audience

To analyze internal sales reports for past performance

To improve employee satisfaction within the company

2.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What kind of information can businesses gather through surveys?

The financial performance of rival companies

Detailed insights into consumer behavior from group discussions

Customer preferences, buying habits, and satisfaction with products or services

Data on market segments and their profitability

3.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What is a key benefit of conducting focus groups in market research?

To analyze large volumes of sales data efficiently

To determine the overall market size and growth rate

To test new products or services and get feedback from potential customers

To identify the most profitable market segments for a product

4.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What is the main objective of data analysis in market research?

To conduct in-depth interviews with individual customers

To identify trends and patterns in consumer behavior from various sources

To organize small groups of people for product discussions

To create visual representations of brand logos

5.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What is one advantage of using surveys for data collection?

They require extensive training to administer

They are inexpensive and reach many people

They always guarantee high response rates
They can only be conducted in person

6.

DROPDOWN QUESTION

30 sec • 10 pts

Using existing data such as reports and statistics is an example of: ​ (a)  

Secondary research
Primary research
Field study
Experimental analysis

7.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

A small business wants to explore customer opinions about a new product flavor. Which research method is MOST appropriate?

Market trend analysis
Product cost evaluation
Sales forecasting

Focus groups

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