Quiz: Why Businesses Conduct Market Research
iGCSE Business Studies [Edexcel]
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Welcome to this quiz on why businesses conduct market research. Test your knowledge and learn why market research is important for identifying needs, gaps, reducing risks, and making better decisions!
What is the main purpose of market research?
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Which of the following are reasons why businesses conduct market research? (Select all that apply)
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Market research helps businesses identify {{blank0}} in the market to offer new products or services.
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Match the items on the left with their correct pairs on the right
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A business spends £5,000 on market research and gains £20,000 in sales. What is the profit from these sales?
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Which type of market research involves directly asking customers about their preferences?
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Which methods are commonly used in market research? (Select all that apply)
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Match the items on the left with their correct pairs on the right
Businesses use market research to make better {{blank0}} about products, pricing, and promotions.
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