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Questions and Answers
Which of the following best describes the purpose of market research?
What type of information should be gathered to better understand opportunities and limitations for gaining customers?
What is the benefit of doing market research using existing sources?
Why is it important to keep up with small business trends?
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What does market research blend to confirm and improve your business idea?
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Which of the following is NOT an example of an asset that can be managed in investment management?
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What are some examples of institutions that can be investors in investment management?
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Which term is often used to refer to the management of investment funds in investment management?
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How can investment management clients be classified?
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What is the more generic term that may refer to the management of assets not primarily held for investment purposes?
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Study Notes
Market Research Purpose and Importance
- Market research aims to gather insights about consumers, competitors, and the overall market landscape.
- Information needed includes customer demographics, preferences, market trends, and competitors' strategies to identify opportunities and limitations.
- Utilizing existing sources for market research is cost-effective and time-efficient, providing credible insights without the need for primary data collection.
- Staying updated with small business trends allows entrepreneurs to adapt to changing market conditions, meet customer needs, and maintain a competitive edge.
- Market research combines qualitative and quantitative data to validate and enhance business ideas, ensuring alignment with market demand.
Investment Management Insights
- An asset not typically managed in investment management includes personal property or non-investment based items.
- Institutions that can be investors in investment management include pension funds, mutual funds, insurance companies, and endowments.
- The term "asset management" is commonly used to describe the management of investment funds and portfolios in investment management.
- Investment management clients can be classified into categories based on their investment goals, risk tolerance, and investment size.
- A more generic term that encompasses the management of assets held for various purposes, not just investment, is "fund management."
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Description
"Test Your Knowledge: Market Research and Competitive Analysis" Take this quiz to assess your understanding of market research and competitive analysis. Learn how to blend consumer behavior and economic trends to confirm and improve your business idea. Enhance your knowledge of understanding your consumer base and reducing risks in your business.
