Market Research Quiz Questions! Trivia

9 Questions | Total Attempts: 226

SettingsSettingsSettings
Please wait...
Market Research Quiz Questions! Trivia

What do you know about market research? Do you suppose you can do well with this quiz? Market research is an organized effort to procure data about target markets and customers. It is an essential component of business strategy and a significant factor in sustaining competitiveness. Market research helps to detect and analyze the needs of the market, market size, and competition. Take this quiz and learn more about market research.


Questions and Answers
  • 1. 
    What is the definition of Market Research?   
    • A. 

      The systematic and objective process of generating information to aid in making marketing decisions

    • B. 

      The system of finding the correct answers to our objectives

    • C. 

      Market Intelligence

    • D. 

      All of the above

    • E. 

      None of the above

  • 2. 
    What type of market research is a survey?
    • A. 

      Primary Research

    • B. 

      Secondary Research

    • C. 

      Desk research

    • D. 

      Lab research

  • 3. 
    What is meant by desk research?
    • A. 

      Doing field research

    • B. 

      Research about different desk sizes

    • C. 

      Doing secondary research

    • D. 

      Doing primary research

  • 4. 
    What is the purpose of carrying out market research?
    • A. 

      To find out customers' expectations

    • B. 

      To provide employment opportunities for the researchers

    • C. 

      To expose customers to new products

    • D. 

      To sell new products directly to customers

  • 5. 
    When should market research be carried out?
    • A. 

      Market research should not be carried out at all.

    • B. 

      According to the market status

    • C. 

      After a product launch to assess customer response

    • D. 

      Anytime. The timing of market research is not important.

  • 6. 
    What's the disadvantage of conducting field research?
    • A. 

      It's not timely

    • B. 

      Researchers often cheat

    • C. 

      It's an expensive and time consuming process.

    • D. 

      Collated information is usually unreliable

  • 7. 
    What are some examples of observational market research? 
    • A. 

      Observe the interviewer and how they ask questions

    • B. 

      Record many elements of a person's behavior in many situations

    • C. 

      Record the TV show 20 - 1

    • D. 

      Individuals being recorded during a shopping trip

    • E. 

      Recording no-verbal behavior of an individual

  • 8. 
    How can a manager use market research to analyze and select target markets? 
    • A. 

      Determine market characteristics and trends

    • B. 

      Determine the price people are willing to pay

    • C. 

      Create multiple market segments

    • D. 

      Design a logo

    • E. 

      What to have for lunch today

  • 9. 
    How can managers use market research to identify and evaluate opportunities?
    • A. 

      Understand different items to be displayed at Point of Sale

    • B. 

      Estimate of market potential and make predictions about future environmental conditions

    • C. 

      Develop new products and price structure to evaluate how your product can perform better against competitors

    • D. 

      Who should be hired for promotional product pushing?

    • E. 

      Who cares?

Back to Top Back to top