Flexible budget is a budget which, by recognizing different cost behavior patterns, is designed to change as volume of output changes. A major problem with flexible budgeting is the identification of the variable component of different costs. This variable component must be 'flexed' to appropriate level, whereas the fixed component remains unchanged. Exchange rates which are allowed to fluctuate according to demand and supply conditions in the foreign exchange markets. Focus-group interviewing Personal interviewing which consists of inviting six to ten people to gather for a few hours with a trained interviewer to talk about a product, service, or organization.
Focus groups are useful in providing the researcher with qualitative data.
Clinical focus group . This is the purest form of focus group and based on the belief that people do not understand their true motivations. Exploratory focus group . This is used at the initial stages of the market research process. Experiencing focus group .