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    Multivaritive techniques

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    My company sells candy bars, candy, health bars, gum, mints, etc.

    1-2 pages

    Provide an example of any existing company, in any industry, which has used each of the following-factor analysis, cluster analysis, and multidinensional scaling.

    Briefly describe the difference between each technique.

    1-2 pages

    For my company, select the most appropriate technique and explain how it is more appropriate than the other 2 techniques. Give an example of another company (do not use the same as above)using this chosen technique to address a problem, and give 2 examples how I could employ this technique in my company.

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    My company sells candy bars, candy, health bars, gum, mints, etc.

    1-2 pages

    Provide an example of any existing company, in any industry, which has used each of the following-factor analysis, cluster analysis, and multidimensional scaling.
    Briefly describe the difference between each technique.

    The company selling candy bars, candy, health bars, gum, mints have each used factor analysis, cluster analysis and multi-dimensional scaling.
    It had done a survey of features that is liked by the eaters of chewy candies made from chocolate. The company used 12 variables in the survey and when the results were in, the company developed a correlation matrix. Then the company reduced the variables to four factors using factor analysis.

    The company had made different types of candy bars, candy, health bars, gum, mints, etc. The company did an exploratory study to ascertain how to classify the groups of customers into segments. The company wanted to identify the segment for each of its products so that it could direct it marketing communication at those people. The company did cluster analysis to sort people who used each product into clusters. This classification was used to identify the relevant segments.

    The company had many different types of candy bars, candy, health bars, gum and mints. The company wanted to reduce the number of products it made. So it conducted a survey on each of its products and did a multidimensional scaling of each product. It found the distances among forty six different products. It then created a matrix of ...

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