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IB Business Management HL 4.4.1 Market Research Question Bank

Practise IB Business Management HL 4.4.1 by evaluating market research choices and explaining how evidence reduces uncertainty in marketing decisions.

Syllabus
First assessment 2024
Course
Business management HL
Level
HL

Exam points

  • Explain how market research reduces uncertainty about demand, customers and product decisions.
  • Distinguish primary from secondary research and evaluate relevance, reliability, cost and speed.

4.4.1—Purpose and process of market research question 1

[Maximum number: 2]

Fru-Yo (FY)

Figure for Question 4.4.1—Purpose and process of market research question 1 — IB Business Management HL

Fru-Yo (FY) produces premium-priced yoghurts. FY has strong brand loyalty and relies only on word-of mouth promotion. FYs target market is consumers who may have health problems.

FY created two new zero-sugar fruit yoghurts. FY did no market research into the new yoghurts but is confident that FYs brand loyalty will ensure success. The market constantly changes because competitors regularly introduce new healthy yoghurts.

Table 2 shows forecasted financial information for the two new zero-sugar fruit yoghurts, Yoghurt A and Yoghurt B.

Table 2: Forecasted financial information for FY's new zero-sugar fruit yoghurts

Table 2: Forecasted financial information for FY's new zero-sugar fruit yoghurts

Explain one reason why F Y should carry out market research into Yoghurt B.

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