Question 1: What is the main purpose of conducting market research for a business?

Answer: The main purpose is to gather information about customers and the market to help make good business decisions.

Question 2: Name two different methods a business might use to collect information from customers.

Answer: Surveys and interviews.

Question 3: Describe what a survey involves and how it can help a business.

Answer: A survey involves asking a set of questions to customers or potential customers to find out their opinions, preferences, or buying habits. It helps the business understand what customers want.

Question 4: List two advantages of using questionnaires in market research.

Answer: They are quick to fill out and can reach many people easily.

Question 5: List two disadvantages of using questionnaires in market research.

Answer: Some people might not answer honestly, and the responses might not represent all customers.

Question 6: Imagine a new sports shop wants to find out what sports equipment customers prefer. Describe a simple way they could do this using market research.

Answer: They could ask customers to fill out a questionnaire about which sports equipment they buy most often.

Question 7: Draw a simple plan for a questionnaire that a bakery might use to find out what types of bread customers like best. Include at least three questions.

Answer: A clear layout with space for three questions such as: 1) What is your favorite type of bread? 2) How often do you buy bread? 3) What price do you usually pay?

Question 8: Explain why a business might do market research before launching a new product.

Answer: To find out if people will want to buy the product and to understand what features they prefer.

Question 9: A toy company wants to know which new toy designs children prefer. Suggest one way they could do this research.

Answer: They could show children different toy designs and ask which one they like best.

Question 10: Identify two types of data that a business might collect during market research.

Answer: Quantitative data (numbers, statistics) and qualitative data (opinions, feelings).