Target market selection using fuzzy analytic hierarchy process (AHP) and technique for order preference by similarity to ideal solution (TOPSIS) methods

Abstract

In today’s highly competitive environment, a lucrative market selection process is very important to the success of any business organization. In this context, the choice target market selection represents one of the most important functions to be performed by the division exporters. Target market selection is a multi-criterion problem which includes both qualitative and quantitative criteria. A trade-off between these tangible and intangible factors is essential in selecting the best target market. Proposed approach is based on fuzzy analytic hierarchy process (FAHP) and technique for order preference by similarity to ideal solution (TOPSIS) methods. FAHP method is used in determining the weights of the criteria by decision target market and then rankings of the target market are determined by TOPSIS method. Key words: Target market, analytic hierarchy process (AHP), technique for order preference by similarity to ideal solution (TOPSIS), fuzzy, saffron.