Market Research Types

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Questions and Answers

What is the primary goal of market segmentation?

  • To forecast future market developments
  • To analyze competitors and their strategies
  • To identify and categorize groups within a market (correct)
  • To assess cultural factors that influence market trends

What type of market research is used to analyze the strengths and weaknesses of competitors?

  • Pricing research
  • Feasibility studies
  • Competitive analysis (correct)
  • Trend analysis

What is the key objective of distribution channel analysis?

  • To evaluate the pathways through which products reach consumers (correct)
  • To forecast future market developments
  • To gather data about consumer preferences
  • To understand laws and regulations affecting the market

What type of market research is used to forecast future market developments?

<p>Trend analysis (D)</p> Signup and view all the answers

What is the primary objective of pricing research?

<p>To analyze consumer response to pricing strategies (C)</p> Signup and view all the answers

What is the key benefit of understanding cultural differences in market research?

<p>To provide a competitive edge (A)</p> Signup and view all the answers

What does customer satisfaction primarily aim to determine?

<p>What people think about the product (B)</p> Signup and view all the answers

Which analysis involves comparing a product with similar products from other companies?

<p>AIT Competitor Analysis (C)</p> Signup and view all the answers

What is measured by the market response?

<p>How much of the product is being sold and how popular it is (B)</p> Signup and view all the answers

What is the primary goal of marketing effectiveness?

<p>To measure how well the marketing campaign is working (A)</p> Signup and view all the answers

Which measure determines whether the product meets the needs and wants of the target market?

<p>Product-Market Fit (C)</p> Signup and view all the answers

What do customer satisfaction and product-market fit both involve?

<p>Feedback from customers (C)</p> Signup and view all the answers

What is the primary purpose of understanding territory assessments in a business?

<p>To understand cultural markers and purchasing habits in different territories (D)</p> Signup and view all the answers

What is an advantage of calculating sales potential?

<p>It allows for proper sales planning and attainable sales goals (D)</p> Signup and view all the answers

What is product performance focused on in product/market testing?

<p>The overall performance, durability, reliability, and usability of the product (D)</p> Signup and view all the answers

Why is it important to assign sales representatives to specific territories?

<p>To match their sales methods and experiences with the territory characteristics (A)</p> Signup and view all the answers

What is a benefit of product/market testing?

<p>It provides insights on how to improve products or marketing campaigns (C)</p> Signup and view all the answers

Why is market segmentation important in a business?

<p>To maximize profits in each area (B)</p> Signup and view all the answers

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