Investigating the measures of relative importance in marketing research

Determining the relative importance of various predictors in a marketing research model is important for both theoretical and practical reasons.

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...

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