What Is the General Idea of Stepwise Regression

question 47

Essay

What is the general idea of stepwise regression?

---

Definitions:

Objection

A reason or argument presented in opposition to a suggestion, claim, or action; in sales, refers to potential concerns or hesitations raised by a prospect.

Price/Value Formula

A concept in marketing that compares the cost of a product to its perceived value to the buyer, influencing the purchase decision.

Price Objection

A price objection is a customer's resistance or reluctance to purchase a product or service based on its cost, expressing concerns over value or affordability.

Source Objection

A loyalty-related objection by which the prospect states a preference for another company or salesperson, and may specify a dislike for the salesperson’s company or self.