Question detail

QuickFix Repairs serves business clients while changing promotion; the case evidence includes supplier lead time of ?6,246, sales of 161 units, and a 27% change in costs or demand. Which option best applies Identify benefits and drawbacks of market research techniques and select the best method for a given business?

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 benefits, techniques, market, drawbacks to judge net profit margin, lenders impact, and the business objective in Qualitative, quantitative and decision-making data.
  2. B. Give only a definition of The purpose and methods of market research without using the case evidence.
  3. C. Treat revenue and profit as identical and ignore the effect on lenders.
  4. D. Choose the largest sales figure without checking costs, finance, or context.

Answer

The correct option is: Use benefits, techniques, market, drawbacks to judge net profit margin, lenders impact, and the business objective in Qualitative, quantitative and decision-making data.

Explanation

The option is correct because Use benefits, techniques, market, drawbacks to judge net profit margin, lenders impact, and the business objective in Qualitative, quantitative and decision-making data. The case evidence gives ?7,746, 161 units, and 27%, so the answer must explain the commercial effect rather than repeat a definition. The distractors are weaker because they confuse revenue and profit, miss the lenders, or ignore the business objective.

Common mistake

Qualitative, quantitative and decision-making data common mistake 1

Giving a vague answer instead of directly addressing: Identify benefits and drawbacks of market research techniques and select the best method for a given business..

Answer by clearly explaining how to identify benefits and drawbacks of market research techniques and select the best method for a given business..

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