J.D.Power & Associates and other market research firms recruit large groups of consumers,who are paid to record all of their purchases on a regular basis.Known as __________,they economically collect data using a paper or electronic diary.Businesses pay firms like J.D.Power for their reports that answer the question "How many times did our customers buy our products this year compared to last year?"

Question

Quizplus · Accepted Answer

The method described in the question is called syndicated panels, in which a group of consumers record their purchases regularly to collect data. The collected data is then sold to businesses for market research purposes. This method is cost-effective and commonly used in the industry. Therefore, the correct answer is C, syndicated panels.

JDPower & Associates and Other Market Research Firms Recruit Large