Market Research Market Research 2

Question 1

Which sampling method gives every member of a population an equal chance of being selected?

Accepted Answer

Simple random sampling

Answer

Simple random sampling ensures every population member has an equal probability of selection, making it the most unbiased method.

Question 2

What is the primary advantage of focus groups over individual interviews in market research?

Accepted Answer

Group dynamics can generate unexpected insights

Answer

Focus groups leverage group dynamics and social interaction to surface ideas and opinions that participants might not express alone.

Question 3

A researcher uses existing sales records and customer databases to answer a new research question. This is an example of using:

Accepted Answer

Secondary data

Answer

Secondary data refers to information originally collected for a different purpose that is repurposed for a new research question.

Question 4

What does 'statistical significance' indicate in market research findings?

Accepted Answer

The result is unlikely to have occurred by chance

Answer

Statistical significance (typically p < 0.05) means there is less than a 5% probability the result occurred due to random chance.

Question 5

Which type of research design is best suited for establishing cause-and-effect relationships?

Accepted Answer

Experimental research

Answer

Experimental research manipulates independent variables and controls for confounds, allowing researchers to establish causal relationships.

Market Research Practice Test