Many businesses use any of the following approaches to help analyze consumer behavior:
A. Expert opinion.
B. Consumer surveys.
C. Test marketing.
D. Pricing experiments.
1. Choose the one method from the list above that you believe is the most effective overall approach among the four to help analyze consumer behavior. Describe what it is and how it works, and explain why you believe it is the most effective overall approach.
Note: no hedging your bet by selecting more than one approach or combinations of approaches.
2. Choose the one method from the list above that you believe is the least effective overall approach among the four to help analyze consumer behavior. Describe what it is and how it works, and explain why you believe it is the least effective overall approach.
Note: again, no hedging your bet by selecting more than one approach or combinations of approaches.