Methods and Applications in Marketing Management, Public Policy, and Litigation Support
Edited by Natalie Mizik and Dominique M. Hanssens
Chapter 10: Multivariate statistical analyses: cluster analysis, factor analysis, and multidimensional scaling
In this chapter I present three techniques—Cluster analysis, factor analysis, and multidimensional scaling—popular with marketing researchers and consultants because they help achieve frequently encountered marketing goals. Cluster analysis is useful in finding customer segments, factor analysis is useful for survey research, and multidimensional scaling is useful in creating perceptual maps.
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