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Rating Scale: Survey Questions, Types & Examples

Rating Scale: Survey Questions, Types & Examples

Even though there are endless ways to ask survey questions – rating scales have always been the most popular. But why? The best thing about Rating Scale Questionnaires is that they are recognizable and easy to understand. So people will not get frustrated when they see your surveys.  This question format is so popular that...
Ratio Scale: Definition, Characteristics & Examples

Ratio Scale: Definition, Characteristics & Examples

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...
90+ Market Research Questions to Ask Your Customers

90+ Market Research Questions to Ask Your Customers

Market research questions can help you capture the best insights when you are up for launching a new product or a feature.  Sending out such surveys about market needs and preferences enables companies to understand how their target market feels and behaves. But why market research surveys? Because market trends change with the change in...
Product Market Fit: An Ultimate Guide

Product Market Fit: An Ultimate Guide

Up for launching a new product or business idea or improving an existing product? To steer yourself towards success, it is essential to measure its product-market fit. Meaning: Whether there is a market demand for your product or not. Products whose value proposition satisfies the needs of a market and its potential customers are likely...
Decoding Qualitative Data: Methods, Analysis & Examples

Decoding Qualitative Data: Methods, Analysis & Examples

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...
Psychographic Segmentation: Variables, Examples & Templates

Psychographic Segmentation: Variables, Examples & Templates

If you are confused about who your customers are and what they really need, psychographic segmentation can help. It divides customers based on their psychological traits – preferences, personality, lifestyle, and beliefs, and gives you a sneak peek of their thought processes.  In this blog, we have covered everything about psychographic segmentation to help you understand...
Cluster Sampling: Definition, Methods & Applications

Cluster Sampling: Definition, Methods & Applications

Worried about dealing with a large target audience? Don’t panic, there’s a way out!  You can make your analysis easier with cluster sampling. Analyzing a vast target audience is usually expensive and time-consuming. For this reason, businesses consider cluster sampling as one of the time-saving and economical ways to gather data across a geographical spread. ...
Market Research Survey – 101 Guide

Market Research Survey – 101 Guide

Market Research Surveys enable businesses to go above and beyond before introducing a new concept into the market. Such efforts amplify the probability of winning amidst fierce competition. However, not every concept thrives. The majority of such endeavors turn out to be failures.  So how do you explore the depths of your target market and...
Likert Scale: Definition, Types, Questions & Advantages

Likert Scale: Definition, Types, Questions & Advantages

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: An Ultimate Guide

Customer Lifetime Value: An Ultimate Guide

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...