Consumer Focus is a marketing research firm that organizes focus groups for consumer-product companies. Each focus group has eight individuals who are paid $50 per session to provide comments on new products. These focus groups meet in hotels, and are led by a trained, independent marketing specialist hired by Consumer Focus. Each specialist is paid a fixed retainer to conduct a minimum number of sessions and a per session fee of $2,000. A Consumer Focus staff member attends every session to ensure that all the logistical aspects run smoothly.
Identification of costs of Consumer Focus:
Following are the costs incurred by Consumer Focus:
1. Fees paid to the individuals in the focus group for each session.
2. Fees paid to the independent marketing specialist who trains ...
The answer contains identification of various costs of market research firm