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Net Promoter Score
Net promoter score (NPS) is a market research metric that is based on a single survey question asking respondents to rate the likelihood that they would recommend a company, product, or a service to a friend or colleague. The NPS was developed by Fred Reichheld and has been widely adopted by large companies, initially being popularized in Reichheld's 2003 ''Harvard Business Review'' article. Methodology The NPS assumes a subdivision of respondents into "promoters" who provide ratings of 9 or 10, "passives" who provide ratings of 7 or 8, and "detractors" who provide ratings of 6 or lower. Calculating the net promoter score involves subtracting the percentage of detractors from the percentage of promoters collected by the survey item. The result of the calculation is typically expressed as an integer rather than a percentage. The core ''How likely would you be to recommend...'' question is almost always accompanied by an open-ended "Why?" and sometimes by so-called "driver" quest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fred Reichheld
Frederick F. Reichheld (born 1952 in Cleveland, Ohio) is an American ''New York Times'' best-selling author, speaker and business strategist. He is best known for his research and writing on the loyalty business model and loyalty marketing. He is the creator of the Net Promoter System of management (NPS). Early life and education Reichheld graduated with a B.A. from Harvard College (1974) and an MBA from Harvard Business School (1978). Career Reichheld is a Fellow of the management consultancy Bain & Company, where he has worked since 1977. In 2003, ''Consulting Magazine'' named him one of the world's top 25 consultants. According to The New York Times, he "put loyalty economics on the map." The Economist magazine called him "the high priest of the loyalty cult" in 2001. Writing His books include '' The Loyalty Effect'' (1996), ''Loyalty Rules!'' (2001), and ''The Ultimate Question: Driving Good Profits and True Growth'' (2006). He has authored articles for business p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard Business Review
''Harvard Business Review'' (''HBR'') is a general management magazine published by Harvard Business Publishing, a not-for-profit, independent corporation that is an affiliate of Harvard Business School. ''HBR'' is published six times a year and is headquartered in Brighton, Massachusetts. ''HBR'' covers a wide range of topics that are relevant to various industries, management functions, and geographic locations. These include leadership, negotiation, strategy, operations, marketing, and finance. ''Harvard Business Review'' has published articles by Clayton Christensen, Peter F. Drucker, Justin Fox, Michael E. Porter, Rosabeth Moss Kanter, John Hagel III, Thomas H. Davenport, Gary Hamel, C. K. Prahalad, Vijay Govindarajan, Robert S. Kaplan, Rita Gunther McGrath and others. Several management concepts and business terms were first given prominence in ''HBR''. ''Harvard Business Review''s worldwide English-language circulation is 250,000. HBR licenses its content for pub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Integer
An integer is the number zero (0), a positive natural number (1, 2, 3, ...), or the negation of a positive natural number (−1, −2, −3, ...). The negations or additive inverses of the positive natural numbers are referred to as negative integers. The set (mathematics), set of all integers is often denoted by the boldface or blackboard bold The set of natural numbers \mathbb is a subset of \mathbb, which in turn is a subset of the set of all rational numbers \mathbb, itself a subset of the real numbers \mathbb. Like the set of natural numbers, the set of integers \mathbb is Countable set, countably infinite. An integer may be regarded as a real number that can be written without a fraction, fractional component. For example, 21, 4, 0, and −2048 are integers, while 9.75, , 5/4, and Square root of 2, are not. The integers form the smallest Group (mathematics), group and the smallest ring (mathematics), ring containing the natural numbers. In algebraic number theory, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bain & Company
Bain & Company is an American management consulting company headquartered in Boston, Massachusetts. The firm provides advice to public, private, and nonprofit organizations. One of the Big Three (management consultancies), Big Three management consultancies, Bain & Company was founded in 1973 by former Group Vice President of Boston Consulting Group Bill Bain (consultant), Bill Bain and his colleagues, including Patrick F. Graham. In the late 1970s and early 1980s, the firm grew rapidly. Bill Bain later corporate spin-off, spun off the alternative investment business into Bain Capital in 1984 and appointed Mitt Romney as its first CEO. Bain experienced several setbacks and financial troubles from 1987 to the early 1990s. Romney and Orit Gadiesh are credited with returning the firm to profitability and growth in their sequential roles as the firm's CEO and chairman respectively. In the 2000s, Bain & Company continued to expand and create additional practice areas focused on working ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Retention
Customer retention refers to the ability of a company or product to retain its customers over some specified period. High customer retention means customers of the product or business tend to return to, continue to buy or in some other way not defect to another product or business, or to non-use entirely. Selling organizations generally attempt to reduce customer defections. Customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship and successful retention efforts take this entire lifecycle into account. A company's ability to attract and retain new customers is related not only to its product or services, but also to the way it services its existing customers, the value the customers actually perceive as a result of utilizing the solutions, and the reputation it creates within and across the marketplace. Successful customer retention involves more than giving the customer what they expect. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Test Validity
Test validity is the extent to which a test (such as a chemical test, chemical, physical test, physical, or test (assessment), scholastic test) accuracy and precision, accurately measures what it is supposed to measurement, measure. In the fields of psychological testing and test (assessment), educational testing, "validity refers to the degree to which evidence and theory support the interpretations of test scores entailed by proposed uses of tests". Although classical models divided the concept into various "validities" (such as content validity, criterion validity, and construct validity), the currently dominant view is that validity is a single unitary construct. Validity is generally considered the most important issue in psychological and educational testing because it concerns the meaning placed on test results. Though many textbooks present validity as a static construct, various models of validity have evolved since the first published recommendations for constructing psy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reliability (statistics)
In statistics and psychometrics, reliability is the overall consistency of a measure. A measure is said to have a high reliability if it produces similar results under consistent conditions:It is the characteristic of a set of test scores that relates to the amount of random error from the measurement process that might be embedded in the scores. Scores that are highly reliable are precise, reproducible, and consistent from one testing occasion to another. That is, if the testing process were repeated with a group of test takers, essentially the same results would be obtained. Various kinds of reliability coefficients, with values ranging between 0.00 (much error) and 1.00 (no error), are usually used to indicate the amount of error in the scores. For example, measurements of people's height and weight are often extremely reliable.The Marketing Accountability Standards Board (MASB) endorses this definition as part of its ongoinCommon Language: Marketing Activities and Metrics Pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Marketing
The ''Journal of Marketing'' is a bimonthly scholarly journal that publishes peer-reviewed research in marketing. It is published by the American Marketing Association. Established in 1936, It is the fourth-oldest major journal covering marketing issues; others include the ''Harvard Business Review'' (1920), the ''Journal of Retailing'' (1925), and the '' Journal of Business'' (1928). Editors Dr. Shrihari Sridhar serves as the Editor-in-Chief of the Journal. He is the Senior Associate Dean of Mays Business School. He is a Professor of Marketing and holds the Joe Foster 1956 Chair in Business Leadership at Mays Business School. In the past, he served as an Associate Editor and Area Editor at other leading journals including the ''Journal of Marketing'', and the ''Journal of Marketing Research''. Co-Editor team includes Dr. Vanitha Swaminathan, and Dr. Cait Lamberton. Special issues The journal has published special issues on various topics, including one on mapping the boundar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tragedy Of The Commons
The tragedy of the commons is the concept that, if many people enjoy unfettered access to a finite, valuable resource, such as a pasture, they will tend to overuse it and may end up destroying its value altogether. Even if some users exercised voluntary restraint, the other users would merely replace them, the predictable result being a "tragedy" for all. The concept has been widely discussed, and criticised, in economics, ecology and other sciences. The metaphorical term is the title of a 1968 essay by ecologist Garrett Hardin. The concept itself did not originate with Hardin but rather extends back to classical antiquity, being discussed by Aristotle. The principal concern of Hardin's essay was overpopulation of the planet. To prevent the inevitable tragedy (he argued) it was necessary to reject the principle (supposedly enshrined in the Universal Declaration of Human Rights) according to which every family has a right to choose the number of its offspring, and to replace it b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Advocacy Index
The Advocacy Index is a customer survey technique developed by VIRTUATel Ltd that is conducted over the telephone. The technique measures customer loyalty using a 3-point scale and is based on the Net Promoter Score (NPS) methodology developed by Fred Reichheld. Overview The 3 point survey scale was developed as the traditional NPS survey scale of 0 to 10 was not always appropriate to be used during a telephone survey, as it is more difficult to understand aurally. In addition, telephones do not have a 10 on the keypad, so IVR systems would need to wait for a possible second digit, if the number 1 is pressed, causing delays in telephone based customer surveys. As they had experience in the area of automated customer surveys, VIRTUATel incorporated the Net Promoter survey technique for driving up-sell, cross-sell and customer retention rates but simplified the 0 to 10 score to use a simple 3 option scale to determine if the survey recipient was an Advocate, Neutral or a Non-Advoca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
