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Assignment:
Economist and management use data from market research and consumers to analyze the economic factors that influence demand for different products. In an effort to understand consumer behavior and demand, companies use one or more non-statistical methods: expert opinion; consumer surveys; test marketing and price experiments; analysis of census and historical data; and unconventional methods. Select one of the five non-statistical methods, briefly define the method, explain the value in analyzing consumer behavior and demand, and then provide an actual example.
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