FREE CBS Market Analysis & Research Questions and Answers
Which method is commonly used to gather primary market research data?
Correct!
Wrong!
Surveys help collect firsthand information from consumers about their preferences and behaviors.
What is the key benefit of competitor analysis?
Correct!
Wrong!
Competitor analysis allows businesses to identify market gaps and differentiate their offerings effectively.
What is the primary purpose of market analysis?
Correct!
Wrong!
Market analysis helps businesses understand industry trends, customer behavior, and competitive positioning.
Why is data accuracy critical in market research?
Correct!
Wrong!
Accurate data ensures reliable decision-making, reducing the risk of errors in business strategies.
Why is SWOT analysis useful in market research?
Correct!
Wrong!
SWOT analysis helps businesses identify strengths, weaknesses, opportunities, and threats for strategic planning.
Which metric is commonly used to measure market growth?
Correct!
Wrong!
The compound annual growth rate (CAGR) is a key metric used to measure consistent market growth over time.