I’m working on a economics discussion question and need guidance to help me learn.
Initial Post:
- Choose a company to use for this discussion. The company can be a U.S. firm, or a firm from any country that is easily researchable using Internet search engines.
- Using the web, familiarize yourself with the company (review their website as well as recent news about the company related to the company’s business operations, market share, or overall profitability).
- Identify the name of the firm, and provide a brief description of the goods and/or services that the firm produces.
- If you were a manager working for the company you researched, how would you use the four ways below to identify and predict consumer behavior? Apply these specifically to the business you have researched, and discussed each of these in relationship to your company.
- Expert opinion: How would you use this technique to identify and predict consumer behavior?
- Consumer surveys: How would you use this technique to identify and predict consumer behavior?
- Test marketing and price experiments: How would you use this technique to identify and predict consumer behavior?
- Analysis of census and historical data: How would you use this technique to identify and predict consumer behavior?
Hint: you may wish to copy/paste the discussion questions into your response box so that you can place your response next to each question.
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