Is a Statistical Technique That Reduces a Large Number of Measures

question 56

Multiple Choice

is a statistical technique that reduces a large number of measures to a smaller number of clusters, with variables within clusters being highly related with one another, but variables across clusters being much less so.

• A) Cluster analysis
• B) Correlational analysis
• C) Factor analysis
• D) Confirmation analysis

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Definitions:

Segmentation Attractiveness

This refers to the appeal of a specific market segment to a company, based on factors like size, profitability, and accessibility.

Perceptual Map

A visual representation of how consumers perceive a brand, product, or service in relation to competitors, typically based on important attributes.

Dimensions Determined

Specific measurable attributes or aspects that define the characteristics of a product, service, or problem.

Positioning Criteria

Factors or attributes used by marketers to establish a product's image and identity in the minds of the target market relative to competitors.