Question

Which data collection method should be applied for the given scenario?

You are starting a healthy dog treat company and want to know the price people are willing to pay.

Method #1: interview

Method #2: survey

Method #3: focus group

Method #4: observation

(1 point)

Answer 1

Method #2: survey.

Reason: Surveys let you collect numeric willingness-to-pay from a larger, representative sample (you can use direct price questions or choice/contingent valuation formats) to estimate typical price points.