Multivariate Statistical Analysis in Marketing Management

Marketing management is an essential function of any business, and it is critical to understand the various factors that influence consumer behavior. Multivariate statistical analysis is a powerful tool that can be used to analyze and understand the complex relationships between various marketing variables. This research paper explores the use of multivariate statistical analysis in marketing management, with a focus on the use of principal component analysis (PCA) and cluster analysis. The study is based on a dataset of consumer purchasing behavior and demographic data. The results of the study indicate that multivariate statistical analysis can provide valuable insights for businesses in terms of understanding consumer behavior and identifying key market segments.