5.2 The purpose and methods of market research

• Match the type of research with its definition:

  Primary Research ↔️ Gathering new data specifically for a research purpose

  Secondary Research ↔️ Analyzing existing data previously collected
• List the main purposes of market research in the correct order:

  1️⃣ Identify customer needs and preferences

  2️⃣ Assess market potential

  3️⃣ Evaluate marketing strategies

  4️⃣ Monitor competitors
• What is one of the main purposes of market research?

  Monitor competitors
• Qualitative research methods explore customer experiences, opinions, and motivations
• Quantitative research methods involve surveys, experiments, and observation
• Quantitative research techniques include surveys, experiments, and observation
• Quantitative research always captures the depth of customer emotions and motivations.

  False
• Focus groups generate rich, detailed insights but can be biased by dominant personalities.
• Ethnography captures real-world behaviors and cultural nuances.
• Analyzing market research data allows businesses to make informed decisions.
• Market research can be conducted using two main types of methods: primary and secondary.
• Secondary research can help a clothing retailer assess the potential of the sustainable fashion market.


  True
• Market research can be classified into primary and secondary research.


  True
• Secondary research is cost-effective and saves time but may not be directly relevant.

  True
• Market research evaluates the effectiveness of marketing strategies.

  True
• Quantitative research methods provide measurable and objective data for business decisions.


  True
• Qualitative research provides rich, narrative data to understand the 'why' behind customer behaviors.

  True
• Quantitative research may not capture the depth of customer emotions and motivations
• A strength of quantitative research is that it provides measurable, objective data.
• Match the quantitative research method with its example:

  Surveys ↔️ Email surveys on product satisfaction

  Experiments ↔️ Testing different pricing models

  Observation ↔️ Monitoring customer interactions
• What type of qualitative research involves analyzing a specific event or situation in depth?

  Case study
• Why is data analysis critical in market research?

  To draw meaningful insights
• What does data analysis help measure in marketing campaigns?

  Marketing effectiveness
• Primary research provides current and specific data but can be time-consuming and expensive.


  True
• What type of primary research could a clothing retailer use to understand their target customers' needs for sustainable fashion?

  Surveys and focus groups
• Market research is the process of gathering, analyzing, and interpreting information about a specific market or target audience to aid in decision-making
• Primary research provides data that is current, specific, and tailored to research objectives
• Market research helps identify customer needs and preferences to develop products or services
• Quantitative research methods involve collecting and analyzing numerical data
• Match the qualitative research method with its description:

  Focus Groups ↔️ Facilitated discussions to gather insights

  Interviews ↔️ One-on-one conversations to explore perspectives

  Case Studies ↔️ In-depth analysis of a specific event

  Ethnography ↔️ Immersive observation of a culture
• Quantitative research data can be easily analyzed using statistical methods.


  True
• Experiments in quantitative research measure the impact of specific variables on customer responses.


  True
• Interviews provide an in-depth understanding of personal experiences but require skilled interviewers.


  True
• Qualitative research helps businesses understand the "why" behind customer behaviors.


  True
• Data analysis can uncover trends and relationships within the market that may not be immediately apparent.


  True
• Match the type of research with its definition:

  Primary Research ↔️ Gathering new data specifically for research

  Secondary Research ↔️ Analyzing existing data collected by others
• Secondary research is cost-effective but may not be directly relevant.
• Combining insights from primary and secondary research allows businesses to make informed decisions.