An Advantage of Using a Panel of Consumers for Marketing

question 285

Multiple Choice

An advantage of using a panel of consumers for marketing research is

• A) the discussion leader can help change negative panel responses into positive ones.
• B) the company can find out if consumers change their purchasing behavior over time.
• C) panel members often help each other by bringing up ideas for discussion that others didn't initially think of but that were important to them.
• D) there will usually be one panel member who dominates the discussion and helps keep the conversation focused.
• E) panel members are highly defined demographically, so it is relatively simple to replace an individual member without losing continuity.

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Definitions:

Work In Process

Items that are in the process of being produced but are not yet finished goods.

Direct Materials

Raw materials used directly in the production of a product, whose costs are easily traced to that product.

First-In, First-Out

An accounting method where the earliest acquired goods are sold or used first.

Conversion Cost Per Equivalent Unit

This is the cost incurred during the manufacture of a product that includes both direct labor and manufacturing overhead costs, divided by the number of equivalent units produced.