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11thgrade

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Chapter 11: Market Research

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  • 1. Multiple Choice
    30 seconds
    1 pt
    Which of these is the best definition of a market-oriented business?
    The firm does market research after launching a product
    The firm produces a good that it believes will be successful
    The firm does market research before designing a new product
  • 2. Multiple Choice
    30 seconds
    1 pt

    Which of the following questions is market research not likely to find an answer to?

    Would consumers be likely to buy my product?

    Which method of production should I use?

    What price would consumers be likely to pay?

    Which businesses will be the main competitors?

  • 3. Multiple Choice
    30 seconds
    1 pt

    Which of the following best defines primary market research?

    It is data collection that always produces quantitative data

    It uses information that has already been collected

    It is also known as desk research

    It gathers original data by contacting consumers directly

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