A/B testing (also known as split testing and bucket testing) is a randomized method of comparing two versions of an element (A and B) against each other to determine which one performs better using a metric to define success. To determine which one is better, you subject both versions to experimentation simultaneously. In the end, […]Continue reading "A/B Testing"
5125″ Net Promoter Score identifies customer loyalty to the brand or product. The survey uses a score of 0 to 10 to the answer to the question: “How likely is it that you would recommend [company X or product Y] to a friend or colleague?”. Net Promoter Score was first introduced by Frederick F. Reichheld […]Continue reading "Survey – Net Promoter Score"
A complex survey method where customers choose between product offerings that have different attributes such as price, screen size, or weight. Statistical analysis is then used to reveal the relative value of each attribute and predict the value of each possible combination of features. Helps Answer Does a particular new feature have any value in […]Continue reading "Conjoint Analysis"
5112″ A smoke test is an experiment designed to test market demand for a specific value proposition. This test is often conducted before there is any ability to deliver the value proposition. The value proposition is presented to the customer in some way in exchange for any form of payment that would indicate true market […]Continue reading "Smoke Test"
5110″ A Comprehension Test will evaluate whether the customer understands the marketing message explaining the value proposition. This eliminates a possible false negative bias on smoke tests where the customer indicates they do not want the value proposition when they actually do not understand it. Helps Answer Does the customer understand the value proposition? How […]Continue reading "Comprehension Test"
Secondary Market Research gathers and interprets available information about the target market such as published reports, newspaper articles, or academic journals. This method is used to figure out the size of the market or customer segment, pricing, and possible ways for the market to evolve. Secondary Market Research, also referred to as “Desk Research”, or […]Continue reading "Secondary Market Research"
5105″ Data mining uses statistics from large amounts of data to learn about target markets and customer behaviors. Data mining can make use of data warehouses or big data. Helps Answer ● Who is our customer? ● What are their preferences? ● How do they rank planned feature sets? Data mining can start with a […]Continue reading "Data Mining"