CBS Market Analysis & Research 3

Question 1

A strategist needs to determine whether declining sales are caused by price sensitivity or product quality issues. The most appropriate research method is:

Accepted Answer

Conjoint analysis

Answer

Conjoint analysis measures how customers value different product attributes, isolating price sensitivity versus quality preferences.

Question 2

Market research reveals a segment with high unmet needs but currently zero revenue generation. In opportunity mapping, this segment is classified as:

Accepted Answer

A whitespace opportunity

Answer

Whitespace opportunities are underserved or unserved market segments with unmet needs that represent untapped revenue potential.

Question 3

Which data collection bias occurs when survey respondents answer questions in a way they believe the researcher wants to hear?

Accepted Answer

Social desirability bias

Answer

Social desirability bias occurs when respondents provide answers that reflect positively on themselves or align with perceived researcher expectations.

Question 4

A company finds that its product's price elasticity of demand is -2.5. This means a 10% price increase will result in a:

Accepted Answer

25% decrease in quantity demanded

Answer

With elasticity of -2.5, a 10% price increase causes a 25% decrease in quantity demanded (10% × 2.5 = 25%).

Question 5

During competitive intelligence gathering, a strategist monitors competitor job postings to infer R&D priorities. This is an example of:

Accepted Answer

Open-source intelligence (OSINT)

Answer

Using publicly available information like job postings to infer competitor strategy is a legitimate OSINT technique.

(CBS) Certified Business Strategist Practice Test

(CBS) Certified Business Strategist Practice Test

CBS Market Analysis & Research 3