Investigating the measures of relative importance in marketing research
Harvir S. Bansal
University of Waterloo
Philippe Duverger
Towson University
Introduction
Empirical results in marketing research derived from multiple linear regression models are often susceptible to issues of dimensionality and multicollinearity. The current business environment is data rich and managers need the most parsimonious models to yield actionable results for the firm. Model parsimony is particularly important in customer satisfaction, customer loyalty and marketing research in general relying on tracking studies. For example, the question of which predictor is the main driver of retail loyalty or switching behaviour is crucial, given...