Market Research Market Research 5

Question 1

What is 'price sensitivity measurement' (Van Westendorp) used for in market research?

Accepted Answer

Finding the acceptable price range for a product from the consumer's perspective

Answer

The Van Westendorp Price Sensitivity Meter asks four questions about price perceptions to identify an acceptable price range and optimal price point.

Question 2

What is the key risk of using only social media listening as a market research method?

Accepted Answer

It only captures opinions from active social media users, not the full population

Answer

Social media listening samples are self-selected and skewed toward active users, meaning results may not represent the broader target market.

Question 3

Which research method would best reveal the unconscious or subconscious motivations behind consumer decisions?

Accepted Answer

Projective techniques (e.g., word association, sentence completion)

Answer

Projective techniques bypass conscious defenses by asking respondents to respond to ambiguous stimuli, revealing underlying motivations and feelings.

Question 4

What is a 'test market' in market research?

Accepted Answer

A limited geographic area where a product is launched before a full rollout

Answer

A test market is a real but limited market (often a city or region) used to evaluate a product's performance before committing to a national or global launch.

Question 5

What does 'incidence rate' mean in the context of market research recruiting?

Accepted Answer

The proportion of the general population that qualifies for a specific study

Answer

Incidence rate is the percentage of people in a general sample who meet the screener criteria for a study, directly affecting recruitment cost and time.

Market Research Practice Test

Market Research Practice Test

Market Research Market Research 5