Vol. 10 No. 1 (2022): Business & Management Studies: An International Journal
Articles

Using second-order confirmatory factor analysis to determine factors effective in retro product preference

Nurettin Menteş
Assist. Prof. Dr., Dicle University, Diyarbakır, Turkey
Halil İbrahim Şengün
Assist. Prof. Dr., Dicle University, Diyarbakır, Turkey

Published 2022-03-26

Keywords

  • İkinci Mertebe Doğrulayıcı Faktör Analizi, Nostalji Pazarlaması, Retro Ürün, Retro Pazarlama, Retro Ürün Tercihi
  • Second-Order Confirmatory Factor Analysis, Nostalgia Marketing, Retro Product, Retro Marketing, Retro Product Preference

How to Cite

Menteş, N., & Şengün, H. İbrahim. (2022). Using second-order confirmatory factor analysis to determine factors effective in retro product preference. Business &Amp; Management Studies: An International Journal, 10(1), 192–207. https://doi.org/10.15295/bmij.v10i1.1987

Abstract

Retro marketing has emerged as a method that has drawn attention in recent years. Since nostalgia has been expressed frequently in recent years, past products have naturally gained currency. Accordingly, retro marketing has found its place in the literature as a subject. However, since it is a new subject, it needs to be approached with different variables considering its various dimensions. Retro marketing has been defined in the literature as the remarketing of goods and services by adapting them today. This study aimed to determine the reasons for consumer preferences on retro products, which is a dimension of retro marketing. With that aim, an in-person survey was conducted with 500 participants. The SPSS and AMOS software packages were used to analyze data. Confirmatory factor analysis, a frequently used method for scaling models, is a suitable structural equation modelling for assessing relationships between latent variables. In order to exhibit relationships between latent variables, second-order confirmatory factor analysis was used. In the study, primarily exploratory factor analysis was made. As a result of the exploratory factor analysis, six sub-dimensions effective in retro product preferences were determined. These sub-dimensions were labelled as Retro Product Quality, Belief in Its Performance, Longing for the Past, Attachment to Retro Products, Positive Effect Retro Product Leaves on Person, Price of Retro Product, and Social Image of Retro Product. This study will help provide foresight to companies that would like to reintroduce an old brand or product to the market. Readers will have a priori knowledge on consumer preferences regarding which aspects of old products would be brought to the forefront.

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