See what questions your friends are asking today.

Advantages and disadvantages of a consumer panel?

Answer:

Advantages:

  • lower cost than primary data collection methods,
  • rapid availability and timelineness of brand switching and shifts in buyer preferences
  • accurate report of sensitive expenditures: beer, liquor, cigarettes
  • high level of specificity e.g. actual products not intentions anymore
  • information on aggregate sales activity and shifts in retail outlets (store performances
  • Disadvantages:
    • there are possibility of selection bias which is distortion of evidence or data that arises from the way that the data are collected.
    Mortality effect
  • testing effect

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