Elements of Market Research (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is the primary goal of market research?
What is the primary goal of market research?
To identify and satisfy customer needs
In the S-N-C-P-F framework, what does the 'S' represent?
In the S-N-C-P-F framework, what does the 'S' represent?
Strengths and weaknesses
What is a target market?
What is a target market?
A specific group with common needs & wants
What does market segmentation involve?
What does market segmentation involve?
Dividing markets into identifiable sections
Which example demonstrates demographic segmentation?
Which example demonstrates demographic segmentation?
Cadbury targets Dairy Milk Buttons at kids
Which example illustrates geographic segmentation?
Which example illustrates geographic segmentation?
Clare Champion newspaper targets Co. Clare
How does market segmentation help reduce costs?
How does market segmentation help reduce costs?
Avoids marketing to uninterested consumers
What are niche markets?
What are niche markets?
Specialist markets with few suppliers
In S-N-C-P-F, what does 'F' (Future trends) examine?
In S-N-C-P-F, what does 'F' (Future trends) examine?
Economic outlook, legislation, taxation
What does psychographic segmentation focus on?
What does psychographic segmentation focus on?
Beliefs, attitudes, lifestyles & values