Managerial Challenge 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.

Assignment:

(1) Research your favorite consumer product (iPhone, Coca Cola, Sony PlayStation, Gucci, Lego, Frito Lay Cheetos, etc.) for changes in trend (trend analysis).

(2) Develop a survey-opinion poll to determine if there should be a new product introduced. The questions in your survey-opinion poll should be designed to capture if the current users of the product are unsatisfied or completely satisfied with the product. This information will help you determine as the manager if you will introduce a new product.

(a) The survey must be 10 questions.

(b) The survey must have a reference list at the end for each article you researched to gather data on your favorite product.

(c) You must include a statement for your final opinion – introduce a new product or not.