Question detail

QuickFix Repairs serves premium buyers while launching a product; the case evidence includes labour productivity of ?7,261, sales of 806 units, and a 34% change in costs or demand. Which option best applies Explain why businesses conduct market research, including identifying opportunities and understanding customers and competitors?

Try the question, check the answer, then read the explanation to understand the curriculum point.

At a glance

MCQ

Type

practice

Style

Topic

The purpose and methods of market research

Question

  1. A. Use market research to judge average order value, suppliers impact, and the business objective in Purpose and methods of market research.
  2. B. Give only a definition of The purpose and methods of market research without using the case evidence.
  3. C. Treat efficiency and productivity as identical and ignore the effect on suppliers.
  4. D. Choose the largest sales figure without checking costs, finance, or context.

Answer

The correct option is: Use market research to judge average order value, suppliers impact, and the business objective in Purpose and methods of market research.

Explanation

This is the best-supported choice because Use market research to judge average order value, suppliers impact, and the business objective in Purpose and methods of market research. The case evidence gives ?8,761, 806 units, and 34%, so the answer must explain the commercial effect rather than repeat a definition. The distractors are weaker because they confuse efficiency and productivity, miss the suppliers, or ignore the business objective.

Common mistake

Purpose and methods of market research common mistake 1

Giving a vague answer instead of directly addressing: Explain why businesses conduct market research, including identifying opportunities and understanding customers and competitors..

Answer by clearly explaining how to explain why businesses conduct market research, including identifying opportunities and understanding customers and competitors..

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