Survey and opinion polling is another forecasting tool that may be helpful in making short-period forecast. The greatest value of survey and opinion polling techniques are that they help to uncover if consumer tastes are changing or if business executives begin to lose confidence in the economy to maximize their wealth.
(1) Research your favorite consumer product (iPhone, Lexus IS, Disney, Sony PlayStation, Gucci, Lego, Frito Lay Cheetos, etc.) for changes in trend (trend analysis)
(2) Develop a survey of consumer intentions to determine if there will be a decrease in demand for your favorite product. The questions in your survey-opinion poll should be designed to capture if the current users of the product are unsatisfied, completely satisfied with the product, how they currently use the product, how often do they use/purchase the product and so forth. The questions should be designed to capture if consumers have intentions of purchasing a replacement in the near future. This information will help you determine as the manager if you will slow down the production of your product.
(a) The survey must be at least 10 questions.
(b) The survey must have a reference list for each article you researched to gather data on your favorite product.
(c) You must include a statement for your final opinion – will you slow down production.
Follow the APA style of writing with in-text citations and a reference list.