Fuzzy Extension of the Codas Method for Multi-Criteria Market Segment Evaluation

Abstract

One of the important activities of a company that can increase its competitiveness is market segment evaluation and selection (mse/mss). We can usually consider mse/mss as a multi-criteria decision-making (mcdm) problem, and so we need to use an mcdm method to handle it. Uncertainty is one of the important factors that can affect the process of decision-making. Fuzzy mcdm approached have been designed to deal with the uncertainty of decision-making problems. In this study, a fuzzy extension of the codas (combinative distance-based assessment) method is proposed to solve multi-criteria group decision-making problems. We use linguistic variables and trapezoidal fuzzy numbers to extend the codas method. The proposed fuzzy codas method is applied to an example of market segment evaluation and selection problem under uncertainty. To validate the results, a comparison is performed between the fuzzy codas and two other mcdm methods (fuzzy edas and fuzzy topsis). A sensitivity analysis is also carried out to demonstrate the stability of the results of the fuzz codas. For this aim, ten sets of criteria weights are randomly generated and the example is solved using each set separately. The results of the comparison and the sensitivity analysis show that the proposed fuzzy codas method gives valid and stable results.

A systematic review and meta-Analysis of SWARA and WASPAS methods: Theory and applications with recent fuzzy developments

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Application of the Fuzzy CODAS Method Based on Fuzzy Envelopes for Hesitant Fuzzy Linguistic Term Sets: A Case Study on a Personnel Selection Problem

“…The fuzzy set theory proposed by Zadeh [23] provides a mathematical tool to address uncertainties about human cognitive processes, such as thinking and reasoning [76]. A fuzzy set A in the universe of discourse X = {x 1 , x 2 , ..., x n } is represented by its membership function µ A (x) as follows:…”

“…In the current research, HFLTSs based on CLEs are used to evaluate criteria and alternatives considering expert opinions. In order to rank the alternatives, a fuzzy extension of the CODAS method, one of the newest MCDM methods, developed by Keshavarz Ghorabaee et al [76], is utilized. A sensitivity analysis is implemented in order to show the stability of the ranking results obtained from the fuzzy CODAS method.…”

Optimization Plan for Excess Warehouse Storage in E-Commerce–based Plant Shops: A Case Study for Chinese Plant Industrial

“…Multi-property decision-making primarily involves calculating an optimal plan through evaluating the relative importance of the properties (Ghorabaee, Amiri, Zavadskas, Hooshmand, & Antucheviciene, 2017;Stanujkic, Zavadskas, Karabasevic, Turskis, & Kersuliene, 2017). This method is appropriate for a limited number of plan options that are typically discrete and already known.…”