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A fuzzy attractiveness of market entry (FAME) model for market selection decisions

Author

Listed:
  • M F Shipley

    (University of Houston-Downtown, Houston, TX, USA)

  • M Johnson

    (University of Houston-Downtown, Houston, TX, USA)

  • L Pointer

    (University of Houston-Downtown, Houston, TX, USA)

  • N Yankov

    (Tsenov Academy of Economics, Svishtov, Bulgaria)

Abstract

A Fuzzy Attractiveness of Market Entry (FAME) model is developed to address the decision-making problem of product introduction into alternative markets. FAME is a market entry selection model that is specifically designed to handle situations when information is limited and/or ambiguous, and a high level of uncertainty exists. As such, the FAME model is an easy to implement tool that supports a reasoning approach to market selection decisions. The model uses expert opinions regarding four factors: (1) fit of the firm's marketing mix in each market; (2) the fit of its key competitor's marketing mix in each market; (3) environmental conditions in each market; and (4) the strategic importance of each market to the firm. Application of the model algorithm is conducted for a small, Bulgarian winery's market selection decision. Ease of use is relevant for small to mid-size companies since a spreadsheet is sufficient to complete the algorithmic calculations.

Suggested Citation

  • M F Shipley & M Johnson & L Pointer & N Yankov, 2013. "A fuzzy attractiveness of market entry (FAME) model for market selection decisions," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 64(4), pages 597-610, April.
    • Handle: RePEc:pal:jorsoc:v:64:y:2013:i:4:p:597-610
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    Cited by:

    1. Yu Liu & Hao Zhang, 2022. "Driving Sustainable Innovation in New Ventures: A Study Based on the fsQCA Approach," Sustainability, MDPI, vol. 14(9), pages 1-21, May.
    2. Sascha Kraus & Domingo Ribeiro-Soriano & Miriam Schüssler, 2018. "Fuzzy-set qualitative comparative analysis (fsQCA) in entrepreneurship and innovation research – the rise of a method," International Entrepreneurship and Management Journal, Springer, vol. 14(1), pages 15-33, March.
    3. Linde, Jona & Gietl, Daniel & Sonnemans, Joep & Tuinstra, Jan, 2023. "The effect of quantity and quality of information in strategy tournaments," Journal of Economic Behavior & Organization, Elsevier, vol. 211(C), pages 305-323.
    4. Hong Huo & Quanxi Li, 2022. "Influencing Factors of the Continuous Use of a Knowledge Payment Platform—Fuzzy-Set Qualitative Comparative Analysis Based on Triadic Reciprocal Determinism," Sustainability, MDPI, vol. 14(6), pages 1-15, March.
    5. Wang Zhou & Shuyue Xia & Jinglei Ye & Na Zhang, 2024. "How Do International Contractors Choose Target Market Based on Environmental, Social and Governance Principles? A Fuzzy Ordinal Priority Approach Model," Sustainability, MDPI, vol. 16(3), pages 1-18, January.
    6. Miguel-Ángel Galindo-Martín & María-Soledad Castaño-Martínez & María-Teresa Méndez-Picazo, 2023. "Digitalization, entrepreneurship and competitiveness: an analysis from 19 European countries," Review of Managerial Science, Springer, vol. 17(5), pages 1809-1826, July.

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