--%>

Consumer Interview Survey method of Demand Forecasting

Explain the Consumer Interview Survey method of Demand Forecasting.

E

Expert

Verified

Consumer Interview method: In this method a list of potential buyers would be drawn and all buyers will be approached and asked regarding their buying plans. Such method is ideal and this gives firsthand information, but this is costly and complicated to conduct. It may be undertaken in three manners:

A) Complete Enumeration: Under this method, each consumer of the product is interviewed.

B) Sample survey: Under this method, a sample of consumers is chosen for interview. Sample may be Stratified sampling or random sampling.

C) End-use method: The demand for the product from various sectors like industries, consumers, import and export are determined.

   Related Questions in Managerial Economics

  • Q : States the determinants of elasticity

    States the determinants of elasticity?

  • Q : PROFIT THEORIES OF ECONOMICS I HAVE A

    I HAVE A PROBLEM ANSWERING A QUESTION:'REVIEW THE ECONOMIC THEORIES OF ECONOMICS'

  • Q : Illustrates the relatively elastic

    Illustrates the relatively elastic demand?

  • Q : Initially purely competitive labor

    When this purely competitive labor market is firstly into equilibrium at D0L, S0L, raise in labor productivity will result within equilibrium being attained at: (w) D0L, S0L. (x) D1L, S0L

  • Q : Explain the different types of income

    Explain the different types of income elasticity of demand.

  • Q : What are the important pricing

    What are the important pricing strategies?

  • Q : Explain the decision making areas of

    Explain the decision making areas of the decision making.

  • Q : Occurrence of backward bending supply

    A backward bending supply curve is more likely to arise for the supply of: (1) labor. (2) land. (3) capital.  (4) tomatoes. (5) leisure. Please choose the right answer from above...I want your suggestion for t

  • Q : States the term Demand Estimation

    States the term Demand Estimation.

  • Q : Wage rate and labor in supplying By the

    By the following choices in this illustrated graph, this worker would be happiest at point: (w) point a. (x) point b. (y) point c. (z) point d.

    Discover Q & A

    Leading Solution Library
    Avail More Than 1435403 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1950153
    Asked

    3,689

    Active Tutors

    1435403

    Questions
    Answered

    Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

    Submit Assignment

    ©TutorsGlobe All rights reserved 2022-2023.