Surveys also inquire into consumers’ present and future personal finances and expectations about
the economy. They combine bits of information into a consumer confidence measure (Conference
Board) or a consumer sentiment measure (Survey Research Center of the University of Michigan).
For business buying, research firms can carry out buyer-intention surveys for plant, equipment,
and materials, usually falling within a 10 percent margin of error. These surveys are useful in estimating
demand for industrial products, consumer durables, product purchases where advanced
planning is required, and new products. Their value increases to the extent that buyers are few, the
cost of reaching them is low, and they have clear intentions they willingly disclose and implement.