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1
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After several quarters of declining sales, their company executives decided in 2015 that
major changes were required to combat the public perception of their products as being
unhealthy.
McDonald’s
Answer: 

Question 2
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These are organized sessions with groups of people where a scripted topic or Q&A
discussion with a moderator takes place.

Select one:
a.
Customer surveys

b.
Direct observation

c.
Focus groups

d.
Web-savvy
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Question 3
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Exploratory research helps to define terms and concepts.

Select one:
True 
False

Question 4
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Providing samples of new products to customers in a live setting and gauging the response
can be very effective. Direct customer feedback can be used to make changes to the
product or determine optimal pricing.

Select one:
a.
Direct observation

b.
Product trials or usability studies

c.
Customer surveys

d.
Focus groups
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Question 5
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It involves a few phases which should prepare you for the actual research.

Select one:
a.
Researching

b.
Planning 

c.
Selling

d.
Budgeting
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Question 6
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Access to a market is also made more difficult if high marketing costs are necessary to
achieve a certain level of awareness

Select one:
 a.
Bargaining power of customers

b.
New Competitors and market entry barriers
c.
Competitors in the market

d.
Threat of substitute products and markets

e.
Bargaining power of suppliers

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Question 7
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 The aim of market analysis is to identify the most important characteristics of a market and
to determine the market structure at a certain point in time.

Select one:
True 
False

Question 8
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While market research is crucial for a business startup, it’s also useful for established
businesses to increase profits.

Select one:
True 
False

Question 9
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This involves watching or video recording customers in a natural setting to see how they
respond to displays of products or services. 

Select one:
a.
Web-savvy

b.
Direct observation

c.
Focus groups

d.
Product trials or usability studies
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Question 10
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Market research is an essential component of a business plan for startup businesses - if
market research does not indicate a demand for the product or service, the proposed
business will not likely be viable.

Select one:
True 
False

Question 11
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Which of the following options should be covered in the market description:

Select one:
a.
 All of the above

b.
 What target group is your product or service aimed at?

c.
What is the average income of your target market?

d.
What age group is your product aimed at?

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Question 12
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Monitor industry and economic trends and develop strategies to adapt the business to the
changing environment.

Select one:
True 
False

Question 13
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 How do customers react to price increases or decreases? 

Select one:
a.
New competitors and market entry barriers
 b.
Competitors in the market

c.
Bargaining power of customers

d.
Threat of substitute products and markets

e.
Bargaining power of suppliers

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Question 14
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Demographic picture of your potential B2B customers (Industry, Location, Size of firm, Price
preferences)

Select one:
a.
Analytical Data

b.
Quantitative Data
 c.
Qualitative Data

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Question 15
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Select which of the following are the further reasons for conducting a market analysis:

Select one or more:

a.
You can identify any existing knowledge gaps and fill them in on time.

b.
With a market analysis, you can identify the market entry barrier and estimate the market
attractiveness.

c.
With a market analysis, you can back up your business idea with figures, data, and facts, and
therefore provide a convincing business plan.

d.
You can recognize market potential at an early stage and avoid making the wrong decisions.
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Question 16
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Trends in target market — growth trends, trends in consumer preferences, and trends in
product development

Select one:
a.
Qualitative Data

b.
Quantitative Data

c.
Statistical Data

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Question 17
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These are conducted in various ways, including online, one-on-one interviews, “Satisfaction
Surveys,” and phone calls.
 Customer surveys
Answer: 

Question 18
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Here, the essential characteristics of a market are analyzed and described

Select one:
a.
 responsible analysis

b.
 effective analysis

c.
all of the above

d.
Competitive Analysis

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Question 19
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 Question text
A good example of competitive strategies is  setting competitive pricing for products or services
or determining how your products/services and customer service compare to the competition.

Select one:
True 
False

Question 20
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Market Research
Answer   is the collection and analysis of information about
consumers, competitors, and the effectiveness of marketing programs.