2.2 Market research

• What does secondary research involve?

  Analyzing existing data
• What is a disadvantage of using interviews in market research?

  Time-consuming
• Match the primary research method with its advantage:

  Surveys ↔️ Large sample size

  Interviews ↔️ In-depth qualitative insights

  Focus Groups ↔️ Exploration of opinions
• What is a disadvantage of focus groups in primary research?

  Group influence
• What is a key advantage of focus groups in primary research?

  Rich qualitative data
• Why do businesses often combine primary and secondary research?

  Gain a comprehensive understanding
• What is a disadvantage of using focus groups in primary research?

  Requires skilled moderator
• What is the purpose of market research?

  Gather information
• Both primary and secondary research can guide marketing strategies.


  True
• Government statistics are reliable but may lack specific detail
• What is the main purpose of primary research methods?

  Gather insights directly
• Surveys in market research can suffer from low response rates and potential bias
• Industry reports in secondary research may lack specific insights
• Surveys in primary research offer in-depth qualitative insights.

  False
• What type of data do primary research methods provide insights from?

  Target consumers
• One-on-one discussions in interviews provide personalized feedback
• Secondary research involves analyzing existing data
• Surveys provide in-depth qualitative insights about consumers.

  False
• Steps in using primary research for marketing strategies

  1️⃣ Collect data from surveys, interviews, or focus groups

  2️⃣ Analyze the data

  3️⃣ Develop marketing strategies based on insights
• What is a key advantage of government statistics in secondary research?

  Reliable data
• What is the primary goal of primary research?

  Collect new data
• Market research helps businesses understand their target market and competitors.


  True
• Match the type of research with its method:

  Primary ↔️ Surveys

  Secondary ↔️ Industry Reports
• What is a major disadvantage of government statistics in secondary research?

  Broad scope
• Primary research involves collecting new data directly from consumers
• Surveys provide in-depth qualitative insights for market research

  False
• Industry reports always provide up-to-date and accurate information

  False
• Statistical analysis is used to identify patterns, trends, and relationships in quantitative data.
• Developing an action plan is the final step in using market research findings


  True
• Competitor websites provide accessible information for direct comparison
• Secondary research analyzes existing data from sources like industry reports
• What is the defining characteristic of primary research in market research?

  Collecting new data
• What is the primary purpose of secondary research?

  Analyze existing data
• Steps in using secondary research for marketing strategies

  1️⃣ Identify relevant secondary sources

  2️⃣ Analyze the data from industry reports, government statistics, or competitor websites

  3️⃣ Develop marketing strategies based on findings
• Match the primary research method with its description:

  Surveys ↔️ Gathering data through questionnaires

  Interviews ↔️ One-on-one discussions

  Focus Groups ↔️ Group discussions led by a moderator
• Secondary research involves analyzing existing data from sources such as industry reports
• Categorize data collection techniques into quantitative and qualitative methods:

  1️⃣ Quantitative: Surveys

  2️⃣ Qualitative: Interviews

  3️⃣ Qualitative: Focus Groups
• What does competitive analysis in market research involve?

  Benchmarking against competitors
• Primary research involves collecting new data directly from consumers
• Surveys in market research provide quantitative data and are easy to analyze