Title: Market Research
Course: Demo 1

Q: A ________ is a person who pays to consume the goods and/or services produced by a seller.
- competitor
- stakeholder
- consumer
A: consumer

Q: What is consumer market research?
- systematic collection and evaluation of data regarding consumer preferences for products and services
- a tool to help companies make better business decisions about how to satisfy customer needs
- the process of identifying, collecting, analyzing and sharing information about competitor companies, products and market activity
A: systematic collection and evaluation of data regarding consumer preferences for products and services; a tool to help companies make better business decisions about how to satisfy customer needs

Q: The primary goal(s) of consumer research include:
- serving as the voice of the consumer
- helping a company understand their target buyers
- improving distribution and the supply chain
A: serving as the voice of the consumer; helping a company understand their target buyers

Q: ________ research includes statistical, mathematical or computational techniques to investigate patterns and predict consumer behavior.
- Qualitative
- Exploratory
- Quantitative
A: Quantitative

Q: ________ research uses research techniques like focus groups and interviews to gain an in-depth understanding of human behavior and the reasons that govern it.
- Quantitative
- Descriptive
- Qualitative
A: Qualitative

Q: Alicia owns an established hair salon. She is interested in expanding to add spa services, but she wants to figure out whether her current clients use spa services and what types of services they would be interested in. What type of marketing research would be most appropriate for Alicia to help guide her business decisions about spa services?
- descriptive research
- causal research
- exploratory research
A: exploratory research

Q: Tom opened a coffee shop at a beach resort several years ago and has done well selling coffee, specialty teas and a small assortment of pastries to his customers. He is interested in expanding his business and is considering adding sandwiches and salads to his menu. Before he makes the investment in the equipment needed to expand his offerings he wants to find out what type of menu his customers would prefer. What type of marketing research would be most appropriate for Tom to help guide his business decisions about adding sandwiches and salads to his menu?
- descriptive research
- causal research
- exploratory research
A: exploratory research

Q: After opening a popular barbecue restaurant, Jake decides to bottle and sell his signature sweet BBQ sauce. Not surprisingly, most of his initial sales happen in the restaurant, but Jake is interested in placing his sauce in other retail outlets. He wants to know more about where most people buy barbecue sauce and what factors go into their decisions about which sauce to buy. What type of marketing research would be most helpful for Jake to inform his decisions?
- causal research
- exploratory research
- descriptive research
A: descriptive research

Q: What is the important first step in any marketing research project?
- research design formulation
- development of an approach to the problem
- problem definition
A: problem definition

Q: During the marketing research process, which step focuses on formulating research objectives, questions and frameworks that can influence the research design?
- data preparation and analysis
- problem definition
- development of an approach to the problem
A: development of an approach to the problem

Q: Which of the following activities are part of formulating a marketing research design?
- questionnaire design
- methods of collecting data
- plan of data analysis
A: questionnaire design; methods of collecting data; plan of data analysis

Q: What are the last three steps of the marketing research process?
- research design formulation, data collection, report preparation and presentation
- data collection, development of an approach to the problem, report preparation and presentation
- data collection, data preparation and analysis, report preparation and presentation
A: data collection, data preparation and analysis, report preparation and presentation

Q: What are the first three steps of the marketing research process?
- research design formulation, problem definition, development of an approach to the problem
- data collection, development of an approach to the problem, research design formulation
- problem definition, development of an approach to the problem, research design formulation
A: problem definition, development of an approach to the problem, research design formulation