To Overcome Problems in Focus Group Interviewing, Some Companies Employ

question 140

Multiple Choice

To overcome problems in focus group interviewing, some companies employ small groups of consumers who interact directly and informally with product designers without a focus group moderator present. Such groups are known as ________.

• A) classes
• B) consumer guilds
• C) virtual communities
• D) immersion groups
• E) primary groups

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Definitions:

Midpoint Formula

A method used in economics to calculate the elasticity of a variable, often used to estimate the price elasticity of demand by averaging the start and end points of a demand curve.

Elastic

A characteristic of a product or service demand that indicates a sensitivity to price changes, where a small change in price leads to a significant change in quantity demanded or supplied.

Immediate Market Period

A very short time frame in which the supply of goods is fixed, meaning that the quantity available for sale cannot be changed regardless of price.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied, leading to market stability.