Instead of doing marketing research on people's fishing behavior,Billy Jay simply asked some of his fishing buddies how many days they thought the average person spent fishing each year.As a result,Billy Jay greatly overestimated the size of the market for his fishing tackle business.This shortcoming in Billy Jay's assessment is probably grounded in:

Question

Quizplus · Accepted Answer

Billy Jay's overestimation is most likely due to false consensus. He assumed that his fishing buddies' behavior and thoughts were representative of the general population's behavior and thoughts, which is a common cognitive bias. However, his group of fishing buddies may not be representative of the entire fishing market, leading to an inflated estimation of the market size.

Instead of Doing Marketing Research on People's Fishing Behavior,Billy Jay