Market Research and Market Share Quiz

What does market share represent?

The percentage of total product sales compared to a company's competitors

What does distribution research aim to determine?

The best approach to get a product from the manufacturer to the retail shelf

What is market segmentation based on?

Grouping customers by similar backgrounds or purchase behavior

Why is pricing research important for a company?

To set an ideal price for its product Signup and view all the answers

What can market share reveal about a company's competitors?

Their capabilities and strengths Signup and view all the answers

'Problem-solving research' in marketing helps companies to?

Identify marketing problems and research solutions Signup and view all the answers

What is a critical component needed to make good decisions according to the text?

Market research Signup and view all the answers

Which of the following is NOT one of the five critical uses of marketing research mentioned in the text?

Improve product quality Signup and view all the answers

What is the first step in the market research process according to the text?

Identification and defining the problem Signup and view all the answers

Why is it important for the research design and implementation to be consistent with the research purpose and objectives?

For better decision-making Signup and view all the answers

Who can benefit from online market research firms according to the text?

ebay, online e-commerce portals, top bloggers, etc. Signup and view all the answers

What does market research provide marketers with according to the text?

A picture of what is occurring in the market Signup and view all the answers

What is the purpose of a focus group?

To gather valuable insights about a topic through discussion Signup and view all the answers

In a dueling moderator focus group, what do the two moderators do?

Both moderators take opposite sides on the discussed issue Signup and view all the answers

What is the purpose of having a respondent as a moderator in a focus group?

To involve a participant in leading the discussion temporarily Signup and view all the answers

How many participants are typically chosen for a focus group?

12 participants Signup and view all the answers

What is the role of the moderator in a focus group?

To direct the discussion and ensure participation from all Signup and view all the answers

Which type of focus group involves one group observing another group?

Two-way focus group Signup and view all the answers

What is the main purpose of descriptive research in marketing?

To offer accurate answers about the market environment Signup and view all the answers

Which of the following is NOT a question that descriptive research in marketing seeks to answer?

How many competitors do I have in the market? Signup and view all the answers

Why is descriptive research considered rigid and well-structured?

Because it embraces a proportion of marketing research Signup and view all the answers

Which quantitative techniques are commonly used in descriptive research?

Structured interviews and focus groups Signup and view all the answers

If a marketer wants to know how many new customers can be engaged using social media, what type of research would be most appropriate?

Descriptive research Signup and view all the answers

In the context of marketing, what type of questions does descriptive research aim to answer?

Questions about market trends and consumer behavior Signup and view all the answers

Why is a clear definition of the problem crucial in marketing research?

To ensure that the research objectives are met effectively. Signup and view all the answers

What is the purpose of formulating a formal statement of research objectives in marketing research?

To establish a foundation for developing a research design. Signup and view all the answers

Why is quality within the sample size considered more important than the quantity of the sample size?

Quality ensures that the collected data is relevant to the research objectives. Signup and view all the answers

What is the primary role of a research design in marketing research?

To establish a framework for the research plan of action. Signup and view all the answers

Which factor plays a significant role in deciding the type of sources of information needed in research design?

The objectives and hypotheses established by the researcher. Signup and view all the answers

Why should researchers choose between qualitative and quantitative terms when defining research objectives?

To express their objectives clearly based on the nature of the research problem. Signup and view all the answers