10+ Market Research Interview Questions and Answers

Questions to ask a customer about a blank detergent packet to gain insight about the product.

• What are the customer's laundry habits?

• What type of washing machine do they use?

• What are their laundry preferences?

• What are their laundry challenges?

• What are their expectations from a detergent?

• What are their thoughts on the packaging design?

• What are their thoughts on the price point?

Research analysis involves interpreting data to draw conclusions and make recommendations.

• Research analysis involves examining data to identify trends and patterns.

• It includes interpreting findings to draw conclusions and make recommendations.

• Examples of research analysis tools include SPSS, Excel, and Tableau.

Supply chain management is the coordination and management of activities involved in the production and delivery of products and services.

• A person in supply chain management should have strong analytical and problem-solving skills.

• They should be able to communicate effectively with suppliers, manufacturers, and customers.

• They should have knowledge of logistics, inventory management, and procurement.

• They should be able to adapt to changes in demand and supply chain disruptions...read more

Factors to consider for competitive benchmarking

• Identify competitors and their strengths/weaknesses

• Determine key performance indicators (KPIs) to compare

• Gather data on competitors' products/services, pricing, marketing strategies, etc.

• Analyze and interpret data to identify areas for improvement

• Continuously monitor and update benchmarking data

The 5 force model can be applied to Amazon by analyzing the bargaining power of suppliers, buyers, new entrants, substitutes, and competitive rivalry.

• Analyze the bargaining power of suppliers by looking at the number of suppliers, the uniqueness of their products, and the cost of switching to a different supplier.

• Analyze the bargaining power of buyers by looking at the number of buyers, the size of their orders, and their ability to negotiate prices.

• Analyze the threat of new ...read more

Market research provides valuable insights into consumer behavior and market trends, enabling businesses to make informed decisions and develop effective strategies.

• Market research helps businesses understand their target audience and their needs, preferences, and behaviors.

• It provides insights into market trends, competition, and industry dynamics, helping businesses identify opportunities and threats.

• Market research helps businesses evaluate the potential demand for their p...read more

Consumer behavior refers to the study of how individuals make decisions to spend their available resources on consumption-related items.

• Consumer behavior involves understanding how consumers make decisions, including what products they buy, where they buy them, how often, and at what price.

• It also includes studying factors that influence consumer choices, such as cultural, social, personal, and psychological factors.

• Marketers use knowledge of consumer behavior to develop effe...read more

I will analyze the market by conducting surveys, collecting data, and analyzing trends and patterns.

• Conducting surveys to gather information from target audience

• Collecting data from various sources such as market reports, industry publications, and online databases

• Analyzing trends and patterns in the market to identify opportunities and threats

• Using statistical analysis techniques to interpret the data and draw meaningful insights

• Segmenting the market based on demographics, p...read more

Market research helps businesses understand their target market, competition, and industry trends to make informed decisions.

• Identify target market demographics and preferences

• Analyze competition and market trends

• Understand customer needs and preferences

• Evaluate product/service performance

• Make informed business decisions based on data

Types of research include exploratory, descriptive, causal, and applied research.

• Exploratory research aims to explore new ideas and insights.

• Descriptive research focuses on describing characteristics of a population or phenomenon.

• Causal research investigates cause-and-effect relationships.

• Applied research is conducted to solve specific problems or answer practical questions.