Market Research and Competitive Analysis Quiz
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Questions and Answers

Market research blends consumer behavior and economic trends to confirm and improve your business ______.

idea

It’s crucial to understand your consumer base from the ______.

outset

Gather demographic information to better understand opportunities and ______ for gaining customers.

limitations

You’ll also want to keep up with the latest small business ______.

<p>trends</p> Signup and view all the answers

You can do market research using existing sources, or you can do the research yourself and go ______ to consumers.

<p>direct</p> Signup and view all the answers

Which of the following is NOT a reason why market research is important for your business?

<p>To increase profits</p> Signup and view all the answers

What type of information can be gathered through demographic analysis for market research?

<p>Information about population data</p> Signup and view all the answers

Why is it important to keep up with the latest small business trends?

<p>To gain a sense of market share</p> Signup and view all the answers

What are the two main approaches to conducting market research?

<p>Using existing sources and conducting primary research</p> Signup and view all the answers

What does market research blend to confirm and improve your business idea?

<p>Consumer behavior and economic trends</p> Signup and view all the answers

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