Mastering Market Research

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Questions and Answers

Which type of research involves interviews, focus groups, and projective techniques?

  • Exploratory research (correct)
  • Confirmatory research
  • Quantitative research
  • Data collection

Which type of research involves surveys and experiments?

  • Data analysis
  • Confirmatory research (correct)
  • Qualitative research
  • Exploratory research

What is the first step in the market research process?

  • Data collection
  • Research design
  • Develop an approach
  • Problem definition (correct)

Why do start-ups as well as big players need market research?

<p>To avoid failures (C)</p> Signup and view all the answers

Is market research always right?

<p>No, market research can be wrong (B)</p> Signup and view all the answers

Which type of research involves interviews, focus groups, and projective techniques?

<p>Exploratory research (D)</p> Signup and view all the answers

What is the purpose of the problem definition step in the market research process?

<p>To identify the information needed (B)</p> Signup and view all the answers

What is the difference between exploratory and confirmatory research?

<p>Exploratory research is qualitative, while confirmatory research is quantitative (B)</p> Signup and view all the answers

Why is market research important for start-ups and big players?

<p>To avoid failures (A)</p> Signup and view all the answers

What are the two main types of research in market research?

<p>Qualitative and quantitative research (C)</p> Signup and view all the answers

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