Market Research

  1. Question: What is the 'range' of the following data: 1, 1, 2, 2, 2, 3, 3, 4?

    A
    2.5

    B
    3

    C
    8

    D
    Impossible to tell

    Note: Not available
    1. Report

  2. Question: Which of the following statements is/are true? i)Comparing weighted scores for key industry success factors (e.g. economies of scale) between competitors is known as 'competitor array analysis'. ii)Benchmarking is an effective means of identifying the best industry practice.

    A
    Both (i) and (ii) are true.

    B
    Only (i) is true.

    C
    Only (ii) is true.

    D
    Neither is true.

    Note: Not available
    1. Report

  3. Question: Which of the following best describes 'secondary' market research?

    A
    Research that is designed to corroborate previous research

    B
    Market research that relates to other companies rather than end consumers

    C
    The collation of data that was previously gathered for different pieces of research

    D
    Research based on data that relates to consumers' previous habits rather than their future intentions

    Note: Not available
    1. Report

  4. Question: In which of the following pieces of information would a mystery shopper NOT be fundamentally interested?

    A
    Timeliness of response

    B
    Technical specifications of a product

    C
    Staff customer-service skills

    D
    Levels of hygiene

    Note: Not available
    1. Report

  5. Question: What is meant by the expression 'Type II error'?

    A
    An error caused by bias in responses

    B
    An error caused by non-representative character of a sample

    C
    The rejection of a true hypothesis

    D
    An error caused by too small a size of the sample to draw a meaningful conclusion

    Note: Not available
    1. Report

  6. Question: What does a correlation of '-1' between two variables indicate?

    A
    That there is a slight negative correlation between the variables.

    B
    That there is no correlation between the variables.

    C
    That there is a perfect negative correlation between the variables.

    D
    That the variables are independent.

    Note: Not available
    1. Report

  7. Question: Which of the following is NOT a characteristic of 'covert observational' market research?

    A
    The activity is controlled and, therefore, yields consistent results.

    B
    The subjects' approval need not be sought.

    C
    Results can be analyzed after the event.

    D
    Behavior is not affected by the researcher.

    Note: Not available
    1. Report

  8. Question: A PEST analysis can be used to identify the external factors affecting a market. What does the 'P' of PEST stand for?

    A
    Product

    B
    Promotion

    C
    Political

    D
    Pricing

    Note: Not available
    1. Report

  9. Question: Which of the following MUST be true for a market that is 'price elastic'?

    A
    A price cut causes total revenue to decrease.

    B
    A price increase causes total revenue to decrease.

    C
    A price cut causes the number of units sold to increase.

    D
    A price increase causes the number of units sold to increase.

    Note: Not available
    1. Report

  10. Question: If the following responses were received regarding a statement in a survey, what is the percentage of those who opposed the statement? Strongly agree: 86 Agree: 212 Neither agree Nor disagree: 127 Disagree:62 Strongly disagree:13

    A
    5%

    B
    15%

    C
    20%

    D
    Impossible to tell

    Note: Not available
    1. Report
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