Which is true about primary research?

Involves talking directly to people

Competitive Matrix vs. Grid:

Same term, used for researching direct competitors

How should you organize market research data?

A grid comparing the characteristics of direct competitors

Network for Teaching Entrepreneurship

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Unit 2 Exam Review

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Questions 25

Answers

1
Which is a secondary research source?
Telephone survey
Mailing
None
Questionnaire
2
For you to understand a particular market, you need to research:
Individual consumers or businesses
All of the above
The competition
The business environment
3
New research
Primary research
Secondary research
4
NFTE Director who visited our classroom last week?
Mr. Thomas
Ms. Ezell
Ms. Rojas
Ms. Bell
5
Which would NOT be a step involved in market research
Obtain financing
Organize the data gathered
Analyze the data gathered
Identify research objectives
6
Which is true about primary research?
Involves talking directly to people
Involves a focus group
Requires secondary research
Requires a questionnaire
7
Existing research
Primary research
Secondary research
8
Greiner Mascot
Yellow Jack
Wasp
Bee
Yellow Jacket
9
Customer surveys?
Secondary research
Indirect research
Primary Research
Direct research
10
First step taken to research potential business opportunity?
Identify research objectives
Determine carrying capacity
Determine research methods and sources
Gather research data
11
Facts about where consumers live
All of the above
Psychographics
Geographics
Demographics
12
How do you spell our school name?
Greinier
Griener
Greinir
Greiner
13
You conduct surveys and 85% of said they would pay up to $55. What is the best price?
$55
$60
$50
$45
14
You did primary research and want to analyze data. How do you go about analyzing this data?
Identify potential differentiators
Compare strengths and weaknesses
Compare competitors’ characteristics
All of the above
15
Age, race, income
Geographics
All of the above
Demographics
Psychographics
16
About 50% of target maket said they would pay $85. What would be a good price?
$85
$70
$95
$25
17
Beliefs, attitude, personal preferences
Geographics
Demographics
Psychographics
All of the above
18
Before conducting market research, what's the first thing you should do?
Choose the type of research
Analyze the competition
Determine the research method
Identify your target market
19
Competitive Matrix vs. Grid:
Same term, used for researching direct competitors
One for primary research, one for secondary research
None of the above
Same term, used for researching indirect competitors
20
How should you organize market research data?
All of the above
Group indirect competitors by demographics
Create a competitive matrix of indirect competitors
A grid comparing the characteristics of direct competitors
21
Which is a secondary research source?
Magazines
All of the above
Internet
Books
22
NFTE stands for:
Network for Teaching Excellence
Network for Testing Entrepreneurship
National Teaching of Entrepreneurship
Network for Teaching Entrepreneurship
23
You want direct feedback about how much people would pay. What's the best primary research?
Go to a professional seminar
Survey potential customers
Do online research
Read magazines that have advertisements about your interest
24
Which research do you do first?
Primary research
Secondary research
Secondary school
Second hand store
25
Which is true about target market?
It can include more than one market segment
It represents a limited customer base
All of the above
It can be based on buying patterns

Unit 2 Exam Review Flashcards | StudBud