With Focus Group Interviews

question 167

Multiple Choice

With focus group interviews,

• A) consumers talk as a group for about 10 minutes, and then meet individually with an interviewer.
• B) it is typical for the researcher to develop quantitative summaries of the results.
• C) marketing managers can estimate the size of the market for a new product.
• D) the objective is to get the group to interact, so that many ideas are generated.
• E) researchers try to select a large sample so they can extend the results to the whole population.

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Definitions:

Opportunity Cost

The value of the next best alternative foregone as a result of making a decision; the cost of missing out on the second best choice while selecting among several options.

Supply Of Labor

The sum of hours employees are prepared and capable of working for a specified rate of pay during a particular time frame.

Labor Supply

The aggregate amount of time laborers are prepared and capable of working at a certain salary level.

Technological Advances

Refers to the progression and innovation in technology, leading to new products, processes, or the improvement of existing technologies.