Business marketing - market research
Quiz by Carmela Isabella
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24 questions
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- Q1What is market research?An analysis of competitors' pricing strategies.A method for improving customer service.A strategy for promoting products to potential customers.A process of gathering information about a target market to make informed business decisions.30s
- Q2What is a primary research method?Data analysisNewspaper adsSurveysSocial media marketing30s
- Q3What is a target audience?A specific group of people who are most likely to be interested in a product or service.The overall marketing budget of a business.The total number of potential customers in a market.The competition in a particular industry.30s
- Q4What is the purpose of SWOT analysis in market research?To create advertising campaigns.To assess the strengths, weaknesses, opportunities, and threats of a business or product.To analyze consumer preferences and behavior.To develop pricing strategies.30s
- Q5Which factor is the primary reason consumers make purchasing decisions?PriceBrand reputationMarketing materialsProduct quality30s
- Q6What is the concept that describes consumers' tendency to evaluate products higher if they believe them to be more expensive?Social proofPerceived valueBrand loyaltyImpulse buying30s
- Q7Which term describes the psychological process where consumers tend to seek out and interpret information that aligns with their pre-existing beliefs?Impulse buyingSocial proofBrand loyaltyConfirmation bias30s
- Q8What term describes the process in which consumers evaluate and compare different brands or products before making a purchasing decision?Social proofImpulse buyingBrand loyaltyConsideration set30s
- Q9What is the term that refers to a consumer's tendency to rely on the opinions and recommendations of others when making a purchasing decision?Perceived valueSocial proofBrand loyaltyImpulse buying30s
- Q10What is the term that describes the tendency of consumers to prefer familiar brands and products over unfamiliar ones?Social proofImpulse buyingPerceived valueBrand loyalty30s
- Q11What is the term that describes the process of consumers purchasing products or services on an impulse without thorough consideration?Brand loyaltyImpulse buyingPerceived valueConfirmation bias30s
- Q12What is the term that describes consumers' tendency to prefer products that are readily available and easy to access?Brand loyaltyPerceived valueSocial proofConvenience bias30s
- Q13What is the term that refers to the psychological discomfort or dissonance experienced by consumers after making a purchase that contradicts their beliefs or values?Brand loyaltyImpulse buyingBuyer's remorseSocial proof30s
- Q14What is the term for the phenomenon in which consumers base their purchasing decisions on the opinions and experiences of other consumers?Impulse buyingBrand loyaltyWord-of-mouthSocial proof30s
- Q15Which of the following is NOT a primary research method used in market research?Conducting focus groupsObserving customer behaviorConducting surveysReading published reports and articles30s