MCQ-MARKET SURVEY AND DATA COLLECTION; SOURCES OF SALE TRANSACTIONS

What is the primary purpose of conducting a market survey?
a) To gather data on customer preferences
b) To assess the profitability of a market
c) To evaluate the competition
d) All of the above
Answer: d) All of the above

Which method is commonly used for collecting primary data in market surveys?
a) Internet research
b) Telephone interviews
c) Census data analysis
d) Government reports
Answer: b) Telephone interviews

What is a key advantage of using online surveys for data collection?
a) High response rate
b) Low cost
c) In-depth qualitative data
d) Face-to-face interaction
Answer: b) Low cost

Which of the following is a secondary data source?
a) Personal interviews
b) Published market reports
c) Focus groups
d) Surveys
Answer: b) Published market reports

What does “sampling” refer to in market research?
a) Selecting a representative group from the population
b) Conducting an experiment
c) Collecting data from everyone in the population
d) Testing the market response
Answer: a) Selecting a representative group from the population

Which type of sampling method ensures that every individual in the population has an equal chance of being selected?
a) Quota sampling
b) Convenience sampling
c) Random sampling
d) Stratified sampling
Answer: c) Random sampling

In India, which organization provides comprehensive data on wholesale and retail trade?
a) National Sample Survey Office (NSSO)
b) Reserve Bank of India (RBI)
c) Securities and Exchange Board of India (SEBI)
d) Indian Market Research Bureau (IMRB)
Answer: a) National Sample Survey Office (NSSO)

Which of the following is a qualitative data collection method?
a) Online questionnaires
b) Telephone surveys
c) Focus group discussions
d) Automated telephone interviews
Answer: c) Focus group discussions

What type of data is collected through surveys?
a) Primary data
b) Secondary data
c) Quantitative data
d) Both a) and c)
Answer: d) Both a) and c)

Which of the following is a key source of sale transaction data in India?
a) Property registration offices
b) Local newspapers
c) Social media platforms
d) Word of mouth
Answer: a) Property registration offices

What is the primary source of data for analyzing real estate transactions?
a) Online forums
b) Government land records
c) Television ads
d) Retail store surveys
Answer: b) Government land records

Which technique is used to estimate market size using available sales data?
a) Market segmentation
b) Demand forecasting
c) Trend analysis
d) Product testing
Answer: c) Trend analysis

In the context of market surveys, what does “response rate” refer to?
a) The percentage of completed surveys
b) The time taken to complete a survey
c) The accuracy of the data collected
d) The number of questions answered
Answer: a) The percentage of completed surveys

Which of the following sources can be used to collect data on consumer buying behavior?
a) Social media analytics
b) Online surveys
c) Loyalty program data
d) All of the above
Answer: d) All of the above

What is a major limitation of using secondary data?
a) High cost
b) Lack of relevance
c) Time-consuming
d) Difficult to analyze
Answer: b) Lack of relevance

In market surveys, what is the purpose of a pilot study?
a) To train surveyors
b) To test the survey design
c) To collect data from a large sample
d) To finalize the survey budget
Answer: b) To test the survey design

Which of the following is not a source of primary data?
a) Census reports
b) Interviews
c) Observations
d) Surveys
Answer: a) Census reports

What is the role of a questionnaire in market research?
a) To analyze data
b) To collect information
c) To define the research problem
d) To implement the marketing strategy
Answer: b) To collect information

Which is an example of qualitative data?
a) Sales volume
b) Customer feedback
c) Market share percentage
d) Number of units sold
Answer: b) Customer feedback

Which type of data is most likely to be outdated in fast-changing markets?
a) Primary data
b) Real-time data
c) Secondary data
d) Quantitative data
Answer: c) Secondary data

Which of the following is a key factor in the accuracy of market survey data?
a) Sample size
b) Survey length
c) Data entry method
d) Questionnaire format
Answer: a) Sample size

Which technique is commonly used to analyze survey data?
a) SWOT analysis
b) Regression analysis
c) PEST analysis
d) Gap analysis
Answer: b) Regression analysis

In India, which body provides retail sale transaction data for consumer goods?
a) India Retail Forum
b) Confederation of Indian Industry (CII)
c) Nielsen India
d) Ministry of Commerce and Industry
Answer: c) Nielsen India

Which data collection method involves observing consumer behavior directly?
a) Telephone interviews
b) Focus groups
c) Surveys
d) Observation
Answer: d) Observation

Which of the following is a source of secondary data in India?
a) National Sample Survey
b) Retailer’s sales records
c) Direct customer surveys
d) Personal interviews
Answer: a) National Sample Survey

What does “data triangulation” in market research mean?
a) Using multiple data sources to validate results
b) Gathering data from a single source
c) Analyzing data with three different methods
d) Collecting data from three regions
Answer: a) Using multiple data sources to validate results

Which organization in India collects data on agricultural transactions?
a) Indian Council of Agricultural Research (ICAR)
b) National Bank for Agriculture and Rural Development (NABARD)
c) Food Corporation of India (FCI)
d) Ministry of Agriculture
Answer: d) Ministry of Agriculture

Which of the following is a disadvantage of face-to-face interviews?
a) High cost
b) Low response rate
c) Lack of detailed data
d) Inflexibility
Answer: a) High cost

Which of the following is a key consideration when designing a market survey?
a) Survey length
b) Question clarity
c) Target audience
d) All of the above
Answer: d) All of the above

In India, which platform is commonly used to gather consumer transaction data?
a) IRCTC
b) Amazon India
c) Flipkart
d) Both b) and c)
Answer: d) Both b) and c)

Which type of data is derived from focus group discussions?
a) Quantitative
b) Qualitative
c) Categorical
d) Nominal
Answer: b) Qualitative

Which of the following is a limitation of online surveys?
a) Geographical restrictions
b) High cost
c) Limited internet access
d) Complex data analysis
Answer: c) Limited internet access

What is the first step in conducting a market survey?
a) Designing the questionnaire
b) Defining the objective
c) Selecting the sample
d) Analyzing the data
Answer: b) Defining the objective

Which of the following sources provides data on e-commerce transactions in India?
a) Ministry of Commerce
b) Internet and Mobile Association of India (IAMAI)
c) Reserve Bank of India
d) NITI Aayog
Answer: b) Internet and Mobile Association of India (IAMAI)

What is the primary challenge in collecting primary data?
a) High accuracy
b) Time-consuming process
c) Availability of data
d) Lack of relevance
Answer: b) Time-consuming process

Which method is used to ensure that data collected from a market survey is representative of the entire population?
a) Convenience sampling
b) Random sampling
c) Quota sampling
d) Judgmental sampling
Answer: b) Random sampling

Which organization in India is responsible for collecting data on manufacturing and industrial production?
a) National Statistical Office (NSO)
b) Confederation of Indian Industry (CII)
c) Ministry of Heavy Industries
d) Indian Market Research Bureau (IMRB)
Answer: a) National Statistical Office (NSO)

Which of the following is a major advantage of using secondary data?
a) High accuracy
b) Quick availability
c) High cost
d) Flexibility
Answer: b) Quick availability

What is the primary purpose of using regression analysis in market research?
a) To collect qualitative data
b) To predict future trends
c) To gather customer feedback
d) To define the target market
Answer: b) To predict future trends

Which of the following sources would be most useful for analyzing competitor sales data?
a) Competitor’s annual reports
b) Consumer surveys
c) Online customer reviews
d) Focus group discussions
Answer: a) Competitor’s annual reports

What is the role of data coding in market research?
a) To collect data
b) To categorize and organize data
c) To analyze data
d) To report findings
Answer: b) To categorize and organize data

Which of the following is an example of a closed-ended question in a survey?
a) “How do you feel about our product?”
b) “What is your age group?”
c) “Describe your experience with our service.”
d) “What improvements would you suggest?”
Answer: b) “What is your age group?”

In the context of market research, what does “bias” refer to?
a) A systematic error in data collection
b) A method to analyze survey results
c) A technique for sampling
d) An approach to data entry
Answer: a) A systematic error in data collection

Which type of data is often used in analyzing trends in consumer spending?
a) Qualitative data
b) Transaction data
c) Observational data
d) Experimental data
Answer: b) Transaction data

What is the importance of using multiple sources for data collection in market surveys?
a) To reduce costs
b) To ensure data accuracy
c) To minimize data redundancy
d) To speed up the survey process
Answer: b) To ensure data accuracy

Which of the following is a common source of data for consumer market research?
a) Credit card transaction records
b) Public opinion polls
c) Government publications
d) All of the above
Answer: d) All of the above

Which is a potential drawback of using data from property registration offices for market surveys?
a) Data may be outdated
b) Data may not be comprehensive
c) Data collection may be time-consuming
d) All of the above
Answer: d) All of the above

Which technique is used to analyze patterns in large datasets?
a) Data mining
b) Content analysis
c) Literature review
d) SWOT analysis
Answer: a) Data mining

Which factor is crucial for the reliability of survey data?
a) Sample size
b) Questionnaire design
c) Data entry accuracy
d) All of the above
Answer: d) All of the above

In market research, what is a “data point”?
a) A single piece of information
b) A method of data collection
c) A type of survey question
d) A statistical measure
Answer: a) A single piece of information