A Hybrid Fuzzy MCDM Approach for Market Segments Evaluation and Selection

Aghdaie, Mohammad Hasan; Zolfani, Sarfaraz Hashemkhani; Rezaeinia, Nahid; Mehri-Tekmeh, Javad

doi:10.1109/icmss.2011.5999416

Cited by 9 publications

(2 citation statements)

References 11 publications

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“…The cited information is extracted from (Fig 4) which is a new scale of rating attribute for local brands where "the attributes" have been determined based on the number of local brands. In (Fig 4), respectively, the corresponding grey values for "Very Poor (VP)", "Poor (P)", "Medium Poor (MP)", "Fair (F)", "Medium Good (MG)", "Good (G)", and "Very Good (VG)" are [0, 1], [1,3], [3,4], [4,5], [5,6], [6,9], [9,10]. As mentioned previously, in Tehran, the tendency to local brands is in the lowest level.…”

Section: Defining the Current Marketsmentioning

confidence: 99%

Dairy market selection approach using MCDM methods: a case of Iranian dairy market

Zakeri

Delavar

Cheikhrouhou

2020

IJMDM

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Making the right decision on selecting a specific market has a strategic importance for a dairy company. The issue is viewed as a multi-criteria decision-making problem. The paper addresses the development of a multi-criteria decision making procedure including a pattern extraction from success and failure of current market introduction to generate logical framework for target market selection. The procedure uses Grey systems to deal fwith uncertainly and develops Technique for Order of Preference by Similarity to Ideal Solution and COmplex PRoportional Assessment to deal with the decision making. In addition of covering the gap of comprehensive research in Iran's domestic dairy market, the main problem this paper tries to solve is the selection of a target market which covers not only the limitations of the company's current markets but also holds their advantages. Therefore, the proposed approach is constructed on selecting the best potential market which possesses the company's best market's criteria and has less similarity to the company's worst market where the company sells its products. A real-world implementation of the approach is done within a dairy company located in Iran. Considering Tehran, the North, Khuzestan, and West Azerbaijan as the company's current market, and also Mashhad, Isfahan, Shiraz, and Tabriz as the company's potential market, Shiraz selected as the best target market through analysis of the population, the level of income, the per capita consumption, local brands, distance from the closest DC, and competitors as the selection criteria. Results show that considering current markets has a big influence on the market ranking procedure.

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Section: Defining the Current Marketsmentioning

confidence: 99%

Dairy market selection approach using MCDM methods: a case of Iranian dairy market

Zakeri

Delavar

Cheikhrouhou

2020

IJMDM

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“…Selecting an appropriate market segment based on evaluation of segments is one of the most complicated and time consuming problems for many companies, due to many feasible alternatives, conflicting objectives and variety of factors (Aghdaie et al 2011). Market segment evaluation and selection decisions are sophisticated by the fact that the decision-making process must consider various criteria.…”

Section: Introductionmentioning

confidence: 99%

Market Segment Evaluation and Selection Based on Application of Fuzzy Ahp and Copras-G Methods

Aghdaie

Zolfani

Zavadskas

2012

Journal of Business Economics and Management

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Market segment evaluation and selection is one of the critical marketing problems of all companies. This paper presents a novel approach which integrates fuzzy analytic hierarchy process (FAHP) and COPRAS-G method for market segment evaluation and selection. Fuzzy AHP is used to calculate the weight of each criterion, and COPRAS-G method is proposed to prioritize market segments from the best to the worst ones. The application of fuzzy set theory allows incorporating the vague and imprecise linguistic terms into the decision process. This study can be used as a pattern for market segment selection and future researches. A case study on a chair manufacturing company is put forward to illustrate the performance of the proposed methodology.

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Strategy-aligned fuzzy approach for market segment evaluation and selection: a modular decision support system by dynamic network process (DNP)

2013

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In competitive markets, market segmentation is a critical point of business, and it can be used as a generic strategy. In each segment, strategies lead companies to their targets; thus, segment selection and the application of the appropriate strategies over time are very important to achieve successful business. This paper aims to model a strategy-aligned fuzzy approach to market segment evaluation and selection. A modular decision support system (DSS) is developed to select an optimum segment with its appropriate strategies. The suggested DSS has two main modules. The first one is SPACE matrix which indicates the risk of each segment. Also, it determines the long-term strategies. The second module finds the most preferred segment-strategies over time. Dynamic network process is applied to prioritize segment-strategies according to five competitive force factors. There is vagueness in pairwise comparisons, and this vagueness has been modeled using fuzzy concepts. To clarify, an example is illustrated by a case study in Iran's coffee market. The results show that success possibility of segments could be different, and choosing the best ones could help companies to be sure in developing their business. Moreover, changing the priority of strategies over time indicates the importance of long-term planning. This fact has been supported by a case study on strategic priority difference in short-and long-term consideration.

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A Hybrid Fuzzy MCDM Approach for Market Segments Evaluation and Selection

Cited by 9 publications

References 11 publications

Dairy market selection approach using MCDM methods: a case of Iranian dairy market

Dairy market selection approach using MCDM methods: a case of Iranian dairy market

Market Segment Evaluation and Selection Based on Application of Fuzzy Ahp and Copras-G Methods

Strategy-aligned fuzzy approach for market segment evaluation and selection: a modular decision support system by dynamic network process (DNP)

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