HW15

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MKTG716

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Marketing

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Feb 20, 2024

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MKTG 3350: Marketing Research and Analytics Homework 15 Name _________________________ Please show ALL of your work by copy-and-pasting your R code and the output. For full credit all work MUST be shown clearly. Problem 1 The Brand Ratings dataset in Brand_Ratings.csv reflects 100 consumer ratings of ten brands with regard to nine perceptual adjectives as expressed on survey items with the following form: On a scale of 1 to 10 - where 1 is the least and 10 is the most – how [ADJECTIVE] is [BRAND A]? 1) Run a factor analysis of the Brand_Ratings dataset. Hint: Use the following R code: ratings = Brand_Ratings[1:9] nfactors = ncol(ratings) factor = fa(ratings, nfactors=nfactors, rotate="none", scores="regression") 2) Print the factor loadings and cumulative proportions. 3) How many factors are a reasonable number? Justify your answer with a scree plot and explanation. How much variation in the data do the number of factors you chose account for? 4) Re-run the factor analysis with the number of factors you choose using a Varimax rotation. 5) Print the factor loadings. What might be appropriate Factor labels? 6) What are the characteristics that each of respondents 1-3 values the most in a great brand? 7) What is the overall perceived position of Brand B? Hint: average the survey responses for Brand B across all 100 participants that rated. Hint: average the survey responses for Brand B across all 100 participants that rated: Use the following R code colMeans(factor$scores[Brand_Ratings$brand == "b",])

8) What is the overall perceived position of Brand G?

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