Question

Some consumer packaged goods firms that sell to wholesalers may not have the means to gather pertinent data directly from consumers that buy its products, especially over time. A good source of this information is from ______.

Answer 1

Government sources like the Bureau of the Census, which conducts business censuses and monthly retail sales surveys, with foreign trade adjustments, provide comprehensive consumer data for packaged goods firms. This is enhanced by price data collection and BLS housing surveys.

Step-by-step explanation:

Consumer packaged goods firms that sell to wholesalers may lack direct consumer data, especially over time.

A good source of this information can be found through government sources like the Bureau of the Census, which conducts a detailed census of businesses every five years, and a monthly survey of retail sales.

These activities, combined with adjustments made using foreign trade data, provide critical insights into consumer purchasing behaviors and product demand.

Additionally, price data is collected by data collectors visiting thousands of stores, and the Bureau of Labor Statistics (BLS) contributes with surveys related to housing and rents.

This comprehensive data collection facilitates a clear understanding of what is produced for and consumed by the population.