What data can be found using secondary data?

Family size, population, industry forecasts

The following are questions an entrepreneur needs to answer to identify their market, except

What market research should I use?

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Identify and Meet a Market Need - Entrepreneurship

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Entrepreneurship - Chapter 4 Assessment (handout)

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Questions 15

Answers

1
Information collected for the very first time to fit a specific purpose is
Primary Data
demographics
Focus Group
Secondary Data
2
The first step in market research is
Determine the Data Needed
Collect the Data
Define the question
Evaluate the Results
3
What data can be found using secondary data?
Personality traits, economic trends, household income
Family size, customer preferences, household income
You can find anything you want using secondary data
Family size, population, industry forecasts
4
All of the following are ways to collect market research data except:
Focus Groups
Observations
Surveys
data warehousing
5
Found in already-published sources
Secondary Data
Reuse Data
Observed Data
Primary Data
6
The following are questions an entrepreneur needs to answer to identify their market, except
What market research should I use?
What needs or wants will my product satisfy?
What can I do for my customers that others aren't doing?
what is the demand for my product?
7
Thinking of psychographics, where can information be found using secondary data resources
Observation
Newspapers
Using a focus group
Surveys
8
The following are questions an entrepreneur needs to answer to identify their market, except
Who is my competition?
What prices are people willing to pay?
What needs or wants will my product satisfy?
Who is my potential market?
9
an in-depth interview with target customers who provide valuable ideas on products or services
Focus Group
Observation group
Surveys
Primary data
10
Describes a group of people in terms of their tastes, opinions, personality traits, etc.
Psychographics
Geographics
Use-Based Data
Demographics
11
The last step of Market Research is
Evaluate the Data
Analyze the Data
Determine the Data Needed
Take Action
12
All are places to find secondary data except
Surveys
Books
Government publications
the Internet
13
Market research has how many steps?
6
4
5
3
14
Companies can not stay in business without
customers
Competitors
Money
a product
15
A business that sells similar products to yours
Indirect Competition
Direct Competition
Retail Competition
Department Stores

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