Market Study Chapter Overview
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Questions and Answers

What is the main difference between quantitative and qualitative analysis?

  • Qualitative analysis is based on causal hypotheses while quantitative analysis is not.
  • Quantitative analysis is frequently used in social research while qualitative analysis is not.
  • Quantitative analysis involves precise measurement while qualitative analysis does not. (correct)
  • Quantitative analysis uses descriptive statistics while qualitative analysis does not.

    • When would exploratory research be typically used?

  • To determine cause and effect relationships between variables.
  • To answer questions about the past using historical approaches.
  • To describe issues related to future demands of a product.
  • To perform literature searches and case studies. (correct)
  • To analyze and evaluate reasons for the occurrence of an event.

    • What is the primary goal of Descriptive Research?

  • To analyze population data.
  • To understand the cause and effect between variables.
  • To describe current conditions and relationships. (correct)
  • To predict future demand for a product.

    • Which type of research seeks to find the cause and effect relationship between variables affecting market conditions?

    <p>Causal Research</p> Signup and view all the answers

    Why is social analysis frequently qualitative?

    <p>Because it does not require quantification for understanding.</p> Signup and view all the answers

    What type of research uses historical approaches in collecting and interpreting data?

    <p>Historical Design</p> Signup and view all the answers

    What is the purpose of conducting a marketing research according to the text?

    <p>To define and determine the need for a target market</p> Signup and view all the answers

    Which aspect is analyzed in the market study regarding the response of the market to the product proposal?

    <p>Supply and demand condition for the environment/industry</p> Signup and view all the answers

    What is a key component to develop competency in, according to the learning objectives mentioned in the text?

    <p>Designing a marketing plan/program</p> Signup and view all the answers

    Why is it important to define and determine the need for a target market?

    <p>To identify potential marketability and profitability</p> Signup and view all the answers

    Which activity helps in determining the likely demand and supply levels to work on according to the text?

    <p>Analyzing past and future demand and supply levels</p> Signup and view all the answers

    What does the market study cover with regard to the environment/industry related to the business project or product?

    <p>Supply and demand condition analysis</p> Signup and view all the answers

    What are the key factors to be considered when choosing a sampling technique?

    <p>The size of the population, study population, margin of error, and proportion of the study population used</p> Signup and view all the answers

    Who are the respondents of a study?

    <p>The individuals who reply to a survey or set of questions</p> Signup and view all the answers

    Where can one find information on population, housing, industry, and trade?

    <p>Bureau of Census and Statistics</p> Signup and view all the answers

    Which organization is a suitable source for records of vehicles like cars, trucks, and motorcycles?

    <p>Land Transportation Commission</p> Signup and view all the answers

    Where can one obtain information on enrolment and graduate records?

    <p>Department of Education and its regional offices</p> Signup and view all the answers

    For records of criminal cases, which organization would be most appropriate to contact?

    <p>Police regencies and offices</p> Signup and view all the answers

    How much worth of purchase is required to avail free gift wrapping?

    <p>$500</p> Signup and view all the answers

    Under what conditions can a product be replaced?

    <p>If it's in the wrong size or defective</p> Signup and view all the answers

    How many days are allowed for product returns after purchase?

    <p>7 days</p> Signup and view all the answers

    What is not accepted when it comes to the customer's negligence of the product?

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

    How many white dresses are allowed for fitting at the same time?

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

    What pricing strategy is used by the dress shop to set the price of products?

    <p>Cost Plus Strategy</p> Signup and view all the answers

    What is the focus of the information provided in the text?

    <p>Exploring the demographic profile of the target market</p> Signup and view all the answers

    Which aspect does the text NOT cover in relation to competitor analysis?

    <p>Advertising expenditure</p> Signup and view all the answers

    What is the purpose of the General Marketing Plan mentioned in the text?

    <p>To promote feasibility studies for potential investors</p> Signup and view all the answers

    Which distribution strategy is NOT mentioned in the text?

    <p>Sell through exclusive partnership with competitors</p> Signup and view all the answers

    What information does the text NOT provide regarding the target market?

    <p>Personal interests</p> Signup and view all the answers

    What conditions can be included in the General Marketing Plan according to the text?

    <p>'Other requirements and conditions' deemed necessary</p> Signup and view all the answers

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