The estimation of consumer demand by setting up simulated stores, providing a sample of consumers with money, and then allowing them to purchase and keep the commodities they select in the stores is called the
A) consumer survey approach.
B) observational research approach.
C) consumer clinic approach.
D) market experiment approach.

Question

Quizplus · Accepted Answer

The described method is known as the consumer clinic approach. It involves creating a controlled environment (like a simulated store) to observe and analyze consumer purchasing behavior in a realistic setting. This approach allows researchers to gather data on consumer preferences and demand in a more practical and interactive manner than surveys or passive observation.

The Estimation of Consumer Demand by Setting Up Simulated Stores