A Market-Based Procedure for Assessing and Improving Content Validity

Psychometric validity requires construct, predictive, and content validity. However, existing methods for ensuring content validity are limited in their ability to identify attributes missing from a content domain or attributes that should be removed from a content domain. In particular, rather than capturing how consumers conceptualize a market construct, existing methods capture how consumers respond to how researchers conceptualize a market construct. The authors propose a market-based procedure for capturing how consumers conceptualize market constructs, including metrics for (1) identifying attributes missing from a content domain and (2) attributes consumers consider outside a content domain.