International Target Market Selection Using Entropy and Multi-Moora Methods through a Case Study

Abstract

Today, despite the severe level of competition between businesses, companies dealing with foreign trade spend an enormous effort to sell their products overseas. Before taking the first step toward the act of exporting, companies are obliged to take some critical decisions. One of the strategic decisions is to determine the target market selection. This study aims to apply the Entropy and the Multi - Moora methods to define the target market selection strategy of a company that produces and plans to export cold storage and pre-cooling systems to foreign markets. The weights of the criteria that would be used in the evaluation and the selection phases of the study have been measured with the Entropy method. Alternative markets have been seized upon by using the Multi - Moora method and the most appropriate target market has been chosen accordingly. Upon the detailed calculations, Georgia has been observed to be the target market country that provided the related criteria at the most appropriate level. Romania and Kazakhstan follow this country, respectively.