How Is Consumer Panel Data Collected During the Test Marketing

question 73

Multiple Choice

How is consumer panel data collected during the test marketing phase of a new product introduction?

• A)Panelists complete a questionnaire about the product.
• B)Panelists scan their receipts on a home scanning device.
• C)Stores provide sales data to companies.
• D)Consumers voluntarily go to a website to record their preferences.
• E)Focus groups are held in key markets.

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Definitions:

Transactions

Economic events that affect a business's financial position, involving the transfer of assets, provision of services, or incurring of obligations.

Merchandise Inventory

Products that a retailer, wholesaler, or distributor has on hand to sell to customers.

Cash Effect

The impact of any transaction on a company's cash and cash equivalents, indicating how the transaction alters the company's liquidity.

Accounts Receivable

Funds due to a company from its clients for products or services already provided but still unpaid.