Evaluation

• What is the primary purpose of market research for a business?

  To try to increase sales
• What factors determine the success of market research?

  Sample size, demographic selection, and usage
• How does sample size affect market research outcomes?

  A larger sample size can provide more accurate results
• Why is the selection of people important in market research?

  It can skew the results based on demographics
• What role do managers play in the effectiveness of market research?

  They decide how to implement the research findings
• How can the response of rivals impact market research outcomes?

  Rivals may reach similar conclusions and actions
• Does market research guarantee an increase in sales?

  No, it helps but does not guarantee success
• What are the key considerations for evaluating market research?

  • Sample size: large vs. small
  • Demographic selection: potential bias
  • Usage of research: managerial decisions
  • Response of rivals: competitive actions