A large grocery product manufacturer has experienced declining sales of canned beans.You are asked to investigate whether the decline is due to the pricing of its product relative to that of the competition.What data source would you use?

Question

Quizplus · Accepted Answer

A retail store audit would be the best choice to investigate the pricing of the product relative to that of the competition. Retail store audits collect data on product pricing, sales volume, and market share, making it easier to compare the pricing of the product with that of the competition. Warehouse withdrawal services, SIC indexes, mail diary panels, and home audit panels would not provide the specific data needed to investigate the pricing of the product relative to the competition.

A Large Grocery Product Manufacturer Has Experienced Declining Sales of Canned