Willingness to pay premium influenced by internal factors and preferences for external factors

Hello Talk Stats Community,

I'm a new member and very happy to be able to open a thread :)

I'm a grad student and currently working on my Expose for the Masterthesis.
I want to contribute to the literature of sustainable living and green apparel with empirical research on willingness to pay a price premium for green clothes.

My aim is to find out a) what internal factors (3 factors, predefined constructs) influence willingness to pay a premium and b) what product attributes (5 attributes, predefined constructs) are most important to consumers in green clothes. See also a screengrab of my model attached.

While many authors use structural equation modeling in green apparel research, I don't think this method will help my case too much since I'm not analyzing a purely theoretical model with latent variables in between. A paper on a similar topic has used multiple regression analysis instead. I'm confident, that I can apply regression to analyze the relationship between internal factors and WTPP. However, I'm not too certain concerning the product attributes. In the end, I want to be able to say that people who are WTPP are mostly influenced by xyz internal factors and value xyz product attributes the most.

Can you give me any advice on my model concerning the analysis method?

Thank you very much in advance! Anmerkung 2020-04-15 111331.png