Podcast
Questions and Answers
What can a business learn by understanding the preferred use of a product by its customers?
What can a business learn by understanding the preferred use of a product by its customers?
- The weaknesses in the distribution channels
- The seasonal fluctuations in demand
- The motives and preferences of customers (correct)
- The preferred channels of distribution
Why is it important for a business to learn more about the motives and preferences of customers?
Why is it important for a business to learn more about the motives and preferences of customers?
- To plan ahead the production and consider price differentiation
- To enhance market share (correct)
- To measure the market
- To identify the preferred channels of distribution
Which type of market does a business operate in if its customers are consumers?
Which type of market does a business operate in if its customers are consumers?
- B2C market (correct)
- B2B market
- B2G market
- B2E market
What can an analysis of where customers buy products help identify?
What can an analysis of where customers buy products help identify?
Why is it important for a business to identify seasonal fluctuations in customer buying behavior?
Why is it important for a business to identify seasonal fluctuations in customer buying behavior?
Which type of market does a business operate in if the buyer and the user of a product are not the same persons?
Which type of market does a business operate in if the buyer and the user of a product are not the same persons?
What can an analysis of when customers buy products help a business identify?
What can an analysis of when customers buy products help a business identify?
Why is it important for a business to learn more about its current and potential customers?
Why is it important for a business to learn more about its current and potential customers?
Study Notes
Customer Analysis and Market Measures in Market Research
- Customer analysis is an important element of market research activities
- Businesses try to learn more about their current and potential customers
- Customers can be either consumers (B2C) or other businesses (B2B)
- The buyer and user of a product may not be the same person
- Understanding what customers do with products helps in product development
- Knowing where customers buy products helps identify preferred distribution channels
- It can also reveal weaknesses in distribution channels and encourage alternative channels
- Understanding when customers buy products helps identify seasonal fluctuations
- It can also assist in planning production and considering price differentiation
- Learning why customers choose a product or prefer another is important for product development
- It also helps in enhancing market share
- Market research can also focus on measuring the market
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Description
Test your knowledge on customer analysis and market research with this quiz. Learn about identifying current and potential customers, distinguishing between B2C and B2B markets, and understanding buyer behavior.
