A Hybrid BWM-ARAS Decision Making Model for Target Market Selection

Year 2020, Volume: 18 Issue: 3, 196 - 210, 25.09.2020

Ahmet Çalık

https://doi.org/10.18026/cbayarsos.646115

Cited By: 1

Abstract

Systematic evaluation and selection of target markets can be the main determinant of success or failure in the stage of internationalization of a firm. The evaluation of any market may be influenced by the firm's marketing mix (product, price, distribution and promotion), environmental variables, market share, potential profitability, and even the strategic importance of the firm. Multi-Criteria Decision Making (MCDM) is a concept that enables to select the most suitable alternatives from the predetermined alternatives in terms of many criteria. Therefore, target market selection is one of the most important issues for firms and can be evaluated using MCDM methods. In this study, an integrated MCDM model that firms can use in target market analysis is proposed. This integrated model is based on BWM and ARAS methods. PEST (Political, Economic, Socio-cultural, Technological) factors are utilized in order to make a general assessment in the identification of the evaluation criteria, the Best Worst Method (BWM) is used during the prioritization of the criteria and the most appropriate target market is determined by ARAS method. Implementation of the proposed model is based on the opinion of academicians and practitioners for the decision of regional target market selection. According to the results of the study, it was found that decision-makers attach more importance to economic factors in the selection of a new target market.

Keywords

Target Market Selection

Hedef Pazar Seçimi için Hibrit BWM-ARAS Karar Verme Modeli

Abstract

Hedef pazarların sistematik olarak değerlendirilmesi ve seçilmesi bir firmanın uluslararasılaşması aşamasında başarı veya başarısızlığın ana belirleyicisi olabilmektedir. Herhangi bir pazarın değerlendirilmesini firmanın pazarlama karması (ürün, fiyat, dağıtım ve tanıtım), çevresel değişkenler, pazar payı, potansiyel karlılık ve hatta firmanın stratejik önemi gibi faktörler etkileyebilmektedir. Çok Kriterli Karar Verme (ÇKKV), önceden belirlenmiş alternatifler arasından en uygun olanı birçok kriter açısından değerlendirerek seçmeyi sağlayan bir kavramdır. Bu nedenle, hedef pazar seçimi firmalar için en önemli konulardan birisidir ve ÇKKV yöntemleri kullanılarak değerlendirilebilir. Bu çalışmada firmaların hedef pazar analizinde kullanabileceği entegre bir ÇKKV modeli önerilmiştir. Bu entegre model en iyi en kötü yöntem (BWM) ve The Additive Ratio Assessment (ARAS) yöntemlerine dayanmaktadır. Değerlendirme kriterlerin belirlenmesinde genel bir durum tespiti yapabilmek için PEST (Political, Economic, Socio-cultural, Technological) faktörlerinden yararlanılmış, BWM, kriterlerin önceliklendirilmesi aşamasında kullanılmış ve en uygun hedef pazar ARAS yöntemi ile belirlenmiştir. Önerilen modelin uygulaması, akademisyenler ve uygulayıcıların görülerinden hareketle bölgesel hedef pazar seçim kararı için gerçekleştirilmiştir. Çalışmanın sonuçlarına göre, karar vericilerin yeni bir hedef pazar seçimi konusunda ekonomik faktörlere daha fazla önem verdikleri tespit edilmiştir.

Keywords

ARAS, BWW, Hedef pazar seçimi

References

• Aghdaie, M., & Alimardani, M. (2015). Target market selection based on market segment evaluation: A multiple attribute decision making approach. International Journal of Operational Research (C. 24). https://doi.org/10.1504/IJOR.2015.072231
• Albadvi, A., Sharifi, S. A., & Qahri Saremi, H. (2007). Application of PROMETHEE" for Market Targeting: A Case Study on the TV Market in Iran. Scientia Iranica, 14(3), 221–229. Tarihinde adresinden erişildi http://scientiairanica.sharif.edu/article_2768.html
• Dickson, P. R., & Ginter, J. L. (1987). Market Segmentation, Product Differentiation, and Marketing Strategy. Journal of Marketing, 51(2), 1–10. https://doi.org/10.2307/1251125
• Gianluca, M., Vignola, M., Facchinetti, G., & Mastroleo, G. (2014). International market selection for small firms: a fuzzy-based decision process. European Journal of Marketing, 48(11/12), 2198–2212. https://doi.org/10.1108/EJM-09-2012-0512
• Malhotra, S., Sivakumar, K., & Zhu, P. (2009). Distance factors and target market selection: the moderating effect of market potential. International Marketing Review, 26(6), 651–673. https://doi.org/10.1108/02651330911001332
• Mehrnoosh, M., & Shamshiri, F. (2017). Prioritizing Target Markets for the Export of Iran Construction Services. Iranian Economic Review, 21(3), 621–637. https://doi.org/10.22059/ier.2017.62943
• Priya, P., & Venkatesh, A. (2012). Integration of Analytic Hierarchy Process with Regression Analysis to Identify Attractive Locations for Market Expansion. Journal of Multi-Criteria Decision Analysis, 19(3–4), 143–153. https://doi.org/10.1002/mcda.1471
• Rezaei, J. (2015). Best-worst multi-criteria decision-making method. Omega, 53, 49–57. https://doi.org/10.1016/J.OMEGA.2014.11.009
• Rezaei, J. (2016). Best-worst multi-criteria decision-making method: Some properties and a linear model. Omega, 64, 126–130. https://doi.org/10.1016/J.OMEGA.2015.12.001
• Robertson, K. R., & Wood, V. R. (2001). The relative importance of types of information in the foreign market selection process. International Business Review, 10(3), 363–379. https://doi.org/10.1016/S0969-5931(01)00021-X
• Shavin, M., Sivakumar, K., & Zhu, P. C. (2009). Distance factors and target market selection: the moderating effect of market potential. International Marketing Review, 26(6), 651–673. https://doi.org/10.1108/02651330911001332
• Shipley, M. F., Johnson, M., Pointer, L., & Yankov, N. (2013). A fuzzy attractiveness of market entry (FAME) model for market selection decisions. Journal of the Operational Research Society, 64(4), 597–610. https://doi.org/10.1057/jors.2012.59
• Slater, S. F., Hult, G. T. M., & Olson, E. M. (2007). On the importance of matching strategic behavior and target market selection to business strategy in high-tech markets. Journal of the Academy of Marketing Science, 35(1), 5–17. https://doi.org/10.1007/s11747-006-0002-4
• Söyler, H., & Yaraş, E. (2016). KÜRESEL PAZARA GİRİŞ KARARININ BULANIK AHP VE BULANIK TOPSIS YAKLAŞIMIYLA ANALİZİ. MANAS Sosyal Araştırmalar Dergisi, 5(4), 77–96. Tarihinde adresinden erişildi https://dergipark.org.tr/tr/pub/mjss/issue/40507/485473
• Taaffe, K., Geunes, J., & Romeijn, H. E. (2008). Target market selection and marketing effort under uncertainty: The selective newsvendor. European Journal of Operational Research, 189(3), 987–1003. https://doi.org/10.1016/J.EJOR.2006.11.049
• Utama, W. P., Chan, A. P. C., Gao, R., & Zahoor, H. (2018). Making international expansion decision for construction enterprises with multiple criteria: a literature review approach. International Journal of Construction Management, 18(3), 221–231. https://doi.org/10.1080/15623599.2017.1315527
• Yavuz, A. (2016). Coğrafi Pazar Seçiminde PROMETHEE ve Entropi Yöntemlerine Dayalı Çok Kriterli Bir Analiz Mobilya Sektöründe Bir Uygulama. Niğde Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 9(2), 163–177.
• Yılmaz, K., Ozturk, Y., & Burdurlu, E. (2017). Çok Ölçütlü Karar Verme Yaklaşımı İle Mobilya İşletmeleri İçin Hedef Pazar Seçimi. İleri Teknoloji Bilimleri Dergisi, 6(3), 744–756.
• Zavadskas, E. K., & Turskis, Z. (2010). A new additive ratio assessment (ARAS) method in multicriteria decision‐making. Ukio Technologinis ir Ekonominis Vystymas, 16(2), 159–172. https://doi.org/10.3846/tede.2010.10