Survey & Questionnaires Blogs

While collecting data from various types of surveys and questionnaires, marketers often make use of 4 types of data measurement scales, namely: Nominal, Ordinal, Interval, and Ratio Scale.  Among all, the ratio scale adequately serves the purpose as it possesses all the qualities of other measurement scales (Nominal, Ordinal, and Interval scales). However, the classification...

Market research experts and statisticians rely so much on numerical data that they forget to ask the bigger questions.  “What sets us apart from the competition? What can we do to improve our product?” Qualitative data can help you get in-depth, intimate answers to such big questions that can never be discovered using a quantitative...

Likert Scale is the perfect means for collecting focused opinions on a particular topic. At times, a simple yes or no could be sufficient when you need to survey customers, employees, or target audiences about their perceptions and opinions. However, when you are required to dig deeper into the respondent’s thoughts, you’ll need a different survey option....

Customer lifetime value (CLV) is calculated in business marketing strategies to see the bigger picture. Many businesses focus on long-standing relationships and success, and not just on one-time sales. For businesses looking to acquire and retain valuable customers, understanding the lifetime value of a customer is important. In simple terms, it is a metric that calculates how...