June 2017: Mock Exam

Question 1

What is market research designed for?

Answer 1

Market research is designed to give information about the likely market.

Question 2

What kind of information would market research give you?

Answer 2

It gives you information about who the customer might be and what they might be prepared to pay for the product

Question 3

What does secondary data involve?

Answer 3

Secondary data involves the collection of secondary data. This in information which is already available.

Question 4

What is Primary data?

Answer 4

Information which no one else has collected. There are several different types

Question 5

What is qualative data?

Answer 5

Qualative data is information about opinions, judgements and attitudes.

Question 6

What’s Quantative Data?

Answer 6

Data that can be interpreted in a numerical way

Question 7

What is easier to get secondary research or primary research?

Answer 7

Secondary research is easier to do because it takes less time and is cheaper to get

Question 8

What’s market mapping?

Answer 8

Market mapping us a research method that identifies the key customer requirements in a market.