BUS460
Market Research
Comprehensive Finals Review (Qns & Ans)
2025
1. Which of the following is the primary goal of market
research?
- A) To increase product prices
- B) To understand consumer needs and preferences
- C) To develop a marketing budget
- D) To reduce competition
- ANS: B) To understand consumer needs and preferences
©2024/2025
, - Rationale: The primary goal of market research is to
understand consumer needs and preferences, which helps
businesses make informed decisions.
2. What is the main purpose of conducting a SWOT analysis in
market research?
- A) To evaluate the cost of a marketing campaign
- B) To assess a company's strengths, weaknesses,
opportunities, and threats
- C) To determine product pricing
- D) To conduct competitor analysis
- ANS: B) To assess a company's strengths, weaknesses,
opportunities, and threats
- Rationale: A SWOT analysis helps in identifying internal
and external factors that can impact the success of a business.
3. Which of the following research methods is most suitable for
understanding consumer behavior in a natural setting?
- A) Surveys
- B) Focus groups
- C) Observational research
- D) Experimental research
- ANS: C) Observational research
©2024/2025
, - Rationale: Observational research involves studying
consumer behavior in a natural setting, providing insights into
real-world interactions and preferences.
Fill-in-the-Blank Questions
4. The __________ technique involves collecting data from a
sample of respondents to generalize findings to a larger
population.
- ANS: Survey
- Rationale: Surveys are used to collect data from a sample of
respondents, allowing researchers to generalize findings to a
larger population.
5. In market research, __________ refers to the process of
dividing a market into distinct groups of consumers with similar
needs or characteristics.
- ANS: Segmentation
- Rationale: Market segmentation involves dividing a market
into distinct groups of consumers with similar needs or
characteristics to better target marketing efforts.
6. The __________ is a measure used to evaluate the
effectiveness of a marketing campaign by assessing the return on
investment.
- ANS: Marketing ROI
©2024/2025
, - Rationale: Marketing ROI measures the effectiveness of a
marketing campaign by assessing the return on investment,
helping businesses determine the success of their efforts.
True/False Questions
7. True or False: Primary data refers to information that is
collected firsthand for a specific research purpose.
- ANS: True
- Rationale: Primary data is information collected firsthand
for a specific research purpose, providing original and relevant
insights.
8. True or False: Qualitative research methods are primarily used
to gather numerical data.
- ANS: False
- Rationale: Qualitative research methods are used to gather
non-numerical data, such as opinions, attitudes, and behaviors, to
gain deeper insights into consumer perspectives.
9. True or False: Market research helps businesses identify
potential market opportunities and threats.
- ANS: True
©2024/2025
Market Research
Comprehensive Finals Review (Qns & Ans)
2025
1. Which of the following is the primary goal of market
research?
- A) To increase product prices
- B) To understand consumer needs and preferences
- C) To develop a marketing budget
- D) To reduce competition
- ANS: B) To understand consumer needs and preferences
©2024/2025
, - Rationale: The primary goal of market research is to
understand consumer needs and preferences, which helps
businesses make informed decisions.
2. What is the main purpose of conducting a SWOT analysis in
market research?
- A) To evaluate the cost of a marketing campaign
- B) To assess a company's strengths, weaknesses,
opportunities, and threats
- C) To determine product pricing
- D) To conduct competitor analysis
- ANS: B) To assess a company's strengths, weaknesses,
opportunities, and threats
- Rationale: A SWOT analysis helps in identifying internal
and external factors that can impact the success of a business.
3. Which of the following research methods is most suitable for
understanding consumer behavior in a natural setting?
- A) Surveys
- B) Focus groups
- C) Observational research
- D) Experimental research
- ANS: C) Observational research
©2024/2025
, - Rationale: Observational research involves studying
consumer behavior in a natural setting, providing insights into
real-world interactions and preferences.
Fill-in-the-Blank Questions
4. The __________ technique involves collecting data from a
sample of respondents to generalize findings to a larger
population.
- ANS: Survey
- Rationale: Surveys are used to collect data from a sample of
respondents, allowing researchers to generalize findings to a
larger population.
5. In market research, __________ refers to the process of
dividing a market into distinct groups of consumers with similar
needs or characteristics.
- ANS: Segmentation
- Rationale: Market segmentation involves dividing a market
into distinct groups of consumers with similar needs or
characteristics to better target marketing efforts.
6. The __________ is a measure used to evaluate the
effectiveness of a marketing campaign by assessing the return on
investment.
- ANS: Marketing ROI
©2024/2025
, - Rationale: Marketing ROI measures the effectiveness of a
marketing campaign by assessing the return on investment,
helping businesses determine the success of their efforts.
True/False Questions
7. True or False: Primary data refers to information that is
collected firsthand for a specific research purpose.
- ANS: True
- Rationale: Primary data is information collected firsthand
for a specific research purpose, providing original and relevant
insights.
8. True or False: Qualitative research methods are primarily used
to gather numerical data.
- ANS: False
- Rationale: Qualitative research methods are used to gather
non-numerical data, such as opinions, attitudes, and behaviors, to
gain deeper insights into consumer perspectives.
9. True or False: Market research helps businesses identify
potential market opportunities and threats.
- ANS: True
©2024/2025
