5 Questions
Which of the following best describes market research?
The analysis of data related to a business's target market
What is the main purpose of market research?
To gain an understanding of customer needs and wants
Why is it important to understand your competition in market research?
To determine and differentiate your offerings
What is an example of a failed market research strategy?
Birchbox
What does primary research entail in market research?
Collecting new data by asking specific questions
Test your knowledge on market research and target market with this quiz! Learn about the importance of collecting and analyzing data related to your business's target market, understanding customer needs and wants, and effectively designing your marketing mix. Explore how market research helps you identify competitors and gain a competitive edge.
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