Quality of Market Research
a month ago
eosborne_19707
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15 QuestionsShow answers
  • Question 1
    30 seconds
    Q.

    Which of the following is NOT a purpose of marketing?

    answer choices

    Anticipate what customers want

    Recognise demand

    Stimulate interest from customers

    Developing new products

  • Question 2
    30 seconds
    Q.

    Which TWO of the following are marketing aims?

    answer choices

    Increase brand loyalty and awareness

    Reduce waste by 5%

    Reduce costs by 5%

    Diversify into different markets

  • Question 3
    30 seconds
    Q.

    Which of the following are NOT true about niche markets?

    answer choices

    There are few opportunities for economies of scale

    Prices tend to be high

    Demand is usually high

    Customers have specific requirements

  • Question 4
    30 seconds
    Q.

    Which of the following is the MOST ACCURATE definition of market segmentation?

    answer choices

    Splitting customers up

    Dividing the market according to specific consumer characteristics

    Focusing on customers with one particular characteristic

    Using demographics to separate a mass market

  • Question 5
    30 seconds
    Q.

    Which of the following is NOT an internal influence on marketing activity?

    answer choices

    Cost of the campaign

    Size and culture of the business

    Ethical requirements of customers

    Staff expertise

  • Question 6
    30 seconds
    Q.

    Which of the following is NOT an external influence on marketing activity?

    answer choices

    Technological factors, such as use of social media

    Availability of finance

    Political considerations, such as Brexit

    Interest rates

  • Question 7
    30 seconds
    Q.

    Which of the following are methods of primary research?

    answer choices

    Survey

    Market reports

    Focus groups

    Census data

  • Question 8
    30 seconds
    Q.

    Which of the following are INTERNAL methods of secondary market research?

    answer choices

    Loyalty card data about customers

    Sales records

    Government statistics

    Trade journals

  • Question 9
    30 seconds
    Q.

    In terms of market research, what does currency measure?

    answer choices

    It refers to the age and relevance of the research

    It looks at the value of the pound against other currencies

    It refers to whether research measures what it claims to be measuring

    It measures whether the choice of research method is the right one for what you are trying to find out

  • Question 10
    30 seconds
    Q.

    In terms of market research, what does sufficiency measure?

    answer choices

    Making sure that the right methods have been used to gather the data

    Making sure that results are supported by multiple sources

    Making sure that the sample size is large enough and representative of the target population

    Making sure the data relates to the question you are trying to answer

  • Question 11
    30 seconds
    Q.

    What is meant by opportunity cost?

    answer choices

    The financial cost of making a choice

    The time given up when you do something

    The money you have to give up when you buy something

    Benefit of the next best alternative given up when a choice is made

  • Question 12
    30 seconds
    Q.

    Which of the following is the BEST definition of economies of scale?

    answer choices

    Same as bulk buying

    Factors which cause average total costs to fall as output rises

    Factors which cause average total costs to rise as output rises

    Costs being lower for large businesses

  • Question 13
    30 seconds
    Q.

    Which of the following are sources of economies of scale? Select all that apply.

    answer choices

    Bulk buying

    Employing accountants

    Spreading the cost of advertising

    Being considered a lower risk for banks to lend to

  • Question 14
    30 seconds
    Q.

    How do you calculate Gross Profit?

    answer choices

    Revenue - Direct Costs

    Revenue - Indirect Costs

    Revenue - Total Costs

    Revenue / Total Costs x 100

  • Question 15
    30 seconds
    Q.

    How do you calculate Net Profit? Tick those that apply.

    answer choices

    Revenue - Total Costs

    Gross Profit - Indirect Costs

    Revenue - Direct Costs

    Gross Profit - Direct Costs

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