Factor Analysis for Binary Data in the Analysis of the Latent Structure of Market Phenomena
Keywords:
factor analysis, latent variables, binary data, nominal scaleAbstract
The article describes a number of theoretical and practical issues pertaining to the factor analysis model and its application in the field of marketing research. The first part discusses the dependence of marketing research on the theory of measurement e.g., the course of research development in the sphere of latent events analysis. The next part looks at factorial modeling in research on consumer attitudes and opinions, followed by a discussion of the possibilities for binary data analysis using the latent trait model. Finally, using empirical data, the author presents a one-factor model to measure youth (young consumers) attitudes towards a hedonistic-consumer lifestyle.
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