Sample interview questions: Can you provide examples of how you have used factor analysis in market research?
Sample answer:
-
Customer Segmentation: Factor analysis was employed to identify distinct customer segments based on their preferences, behaviors, and demographics. This segmentation allowed for targeted marketing campaigns and tailored product development.
-
Product Development: Factor analysis helped identify key product attributes that drive customer satisfaction and purchase decisions. This information was utilized to develop new products that better meet customer needs and enhance market competitiveness.
-
Brand Positioning: Factor analysis was used to determine the key dimensions that shape brand perception and differentiation. This analysis … Read full answer
Source: https://hireabo.com/job/1_4_26/Market%20Research%20Analyst