Nonfinancial Quality Measures: Net Promoter Score Cope Farm Equipment has recently conduct...

Nonfinancial Quality Measures: Net Promoter Score Cope Farm Equipment has recently conducted market research regarding a number of issues, including customer loyalty and customer satisfaction. In regard to the latter, Cope obtained the following responses to the question, “How likely is it that you would recommend Cope to a friend or relative?” The response scale for this question ranged from 1 (“Extremely Unlikely”) to 10 (“Extremely Likely”).

Required

1. What is meant by the term net promoter score?

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2. What is the potential value of the net promoter score to the goal of the management and control of quality?

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3. Given the above results, what is the net promoter score for Cope?

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4. How is the net promoter score for an organization interpreted?