5.5.3 Customer Analysis and Market Measures Quiz
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Questions and Answers

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?

  • 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?

  • B2C market (correct)
  • B2B market
  • B2G market
  • B2E market
  • What can an analysis of where customers buy products help identify?

    <p>Preferred channels of distribution</p> Signup and view all the answers

    Why is it important for a business to identify seasonal fluctuations in customer buying behavior?

    <p>To plan ahead the production</p> Signup and view all the answers

    Which type of market does a business operate in if the buyer and the user of a product are not the same persons?

    <p>Both B2C and B2B markets</p> Signup and view all the answers

    What can an analysis of when customers buy products help a business identify?

    <p>Seasonal fluctuations in customer buying behavior</p> Signup and view all the answers

    Why is it important for a business to learn more about its current and potential customers?

    <p>To develop and improve products according to customers' needs</p> Signup and view all the answers

    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.

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