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Target market selection based on market segment evaluation: a multiple attribute decision making approach

Author

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  • Mohammad Hasan Aghdaie
  • Maryam Alimardani

Abstract

Target market selection is one of the most important marketing decisions for many companies. Besides, many other decisions of an organisation such as market mix, procurement and distribution channels are affected by this decision. An appropriate target market selection is performed upon market segment evaluation results and considering many factors such as segment size, number of competitors, risk and profitability. Moreover, multiple-attribute decision making (MADM) tools are used as a natural approach for evaluating alternatives with respect to conflict criterion, and target market selection can be considered as an MADM problem. To this end, a novel hybrid MADM method including AHP and TOPSIS is proposed to elicit a suitable target market. More precisely, AHP is derived to calculate each criterion's weight and TOPSIS is applied to rank target market alternatives from the best to the worst ones. Additionally, a case study is presented to validate the developed framework.

Suggested Citation

  • Mohammad Hasan Aghdaie & Maryam Alimardani, 2015. "Target market selection based on market segment evaluation: a multiple attribute decision making approach," International Journal of Operational Research, Inderscience Enterprises Ltd, vol. 24(3), pages 262-278.
    • Handle: RePEc:ids:ijores:v:24:y:2015:i:3:p:262-278
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    Citations

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    Cited by:

    1. Kumar, Anil & Luthra, Sunil & Khandelwal, Dinesh Kumar & Mehta, Rajneesh & Chaudhary, Nityanand & Bhatia, Sukhdev, 2017. "Measuring and improving customer retention at authorised automobile workshops after free services," Journal of Retailing and Consumer Services, Elsevier, vol. 39(C), pages 93-102.
    2. Deaza, José Armando & Díaz, Néstor Fabián & Castiblanco, Suelen Emilia & María Inés Barbosa, Universidad de La Salle, 2020. "International market selection models: a literature review," Revista Tendencias, Universidad de Narino, vol. 21(2), pages 191-217, July.
    3. METİN, İsmail, 2023. "International Target Market Selection Using Entropy and Multi-Moora Methods through a Case Study," OSF Preprints 23yrh, Center for Open Science.
    4. AKPINAR, Muhammet Enes, 2023. "Entropi ve Multi-Moora Yöntemlerini Kullanarak Bir Vaka Analizi ile Uluslararası Hedef Pazar Seçimi," OSF Preprints umgt9, Center for Open Science.

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