Month: September 2017

Lisa believes there is a growing market for her gardening services. She has conducted some market research to test her idea and has summarised her findings below.

According to the data above, which TWO conclusions can Lisa draw from the data?

Select TWO answers:

1. 100% more single pensioners than pensioner couples are interested in Lisa’s business
2. Lisa should not offer services 2 or 3 as there is no demand
3. Lisa should focus more on Single households than households with Couples.
4. Her main 2 segments are couples with children and single pensioners
5. Less than half of people prefer something other than service 1
6. Couples with children are more likely to use service 1

Explain you answers:
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This is multiple choice question is suitable for Business Studies KS4 classes.

The answers are 1 & 4 – 28% of single pensioners are interested in her service compared to 14% of pensioner couples, double the number. Single Pensioners and Couple with children, make up 59% of the people interested in Lisa’s business.

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Samir works as a bus driver for a local transport company in Stafford. He is keen to start his own business providing express bus service between Stafford and Birmingham Airport. He spent a week doing market research. Samir interviewed 200 airport users in Stafford town center and the results are shown below.

According to the data based, which TWO conclusions can Samit draw from the data?

Select TWO answers:

1. Only a minority of elderly customers (60+) would use the service
2. Only six people of those interviewed would pay more than £36 for the service
3. The best price to charge would be under £25
4. The 18-30 age group is the largest market segment
5. It is not worth trying to market the service to the over 45s
6. The business could make a profit only if £19 was charged for the service

Explain you answers:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS4 classes.

The answers are 2 & 4 – 3% of 200 people interviewed is equal to 6 people. The 18-30 segment of the age profile is the largest noted that would use the service at 51%.

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Chris wants to set up a business fitting kitchens and looks in the Yellow Pages to see what other businesses offer similar services in the area?

Which ONE of the following is a type of primary market research?

Select ONE answer:

1. Conducting a survey
2. Reviewing the Yellow Pages
3. Analysing past sales figures of other businesses
4. Reading market reports
5. Consulting local newspapers

What are the 3 main ways a business can conduct primary market research? Explain you answers:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS4 classes.

The answer is 1 – Primary research involves the collection of original primary data. It can be accomplished through various methods, including focus groups, questionnaires and telephone interviews in market research.

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Chris wants to set up a business fitting kitchens and looks in the Yellow Pages to see what other businesses offer similar services in the area?

This is an example of what type of research?

Select ONE answer:

1. Qualitative
2. Primary
3. Secondary
4. Observation
5. Review

What 3 other sources of research could Chris use to find out about other kitchen fitters in his area? Explain you answers:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

 

This is multiple choice question is suitable for Business Studies KS4 classes.

The answer is 3 – Secondary research (also known as desk research) involves the summary, review, collation and/or synthesis of existing sources of information and research such as Yellow Pages.

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Justin is a professional DJ who travels to gigs with all his kit in a van.

Which TWO of the following is MOST LIKELY to be suppliers to his business?

Select TWO answers:

1. A club renting his services
2. A TV company writing an article about the business
3. A local petrol garage
4. The individuals who attend his gigs
5. Record stores
6. A local business who is sponsoring him to play at their supplier conference

 

What 3 other suppliers could Justin have to help support his business? Explain you answers:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS4 classes.

The answer is 3 & 4 – The most likely suppliers are the local petrol garage who sells him petrol to fill up his van with, and the record store who sells him vinyl records to play at his gigs.

This work is licensed under a Creative Commons Attribution 4.0 International License.