Deriving consensus rankings via multicriteria decision making methodology

Details Deriving consensus rankings via multicriteria decision making methodology Deriving consensus rankings via multicriteria decision making methodology

2012-01-08

arxiv.org/abs/1201.1604v1

Business Strategy Series, Vol. 13 Iss: 1, pp.3 - 12 2012

Economy

Quantitative Finance

General Finance

Scientific paper

10.1108/17515631211194571

Purpose - This paper seeks to take a cautionary stance to the impact of the marketing mix on customer satisfaction, via a case study deriving consensus rankings for benchmarking on selected retail stores in Malaysia. Design/methodology/approach - The ELECTRE I model is used in deriving consensus rankings via multicriteria decision making method for benchmarking base on the marketing mix model 4P's. Descriptive analysis is used to analyze best practice among the four marketing tactics. Findings - Outranking methods in consequence constitute a strong base on which to found the entire structure of the behavioral theory of benchmarking applied to development of marketing strategy. Research limitations/implications - This study looks only at a limited part of the puzzle of how consumer satisfaction translates into behavioral outcomes. Practical implications - The study provides managers with guidance on how to generate a rough outline of potential marketing activities that can be used to take advantage of capabilities and convert weaknesses and threats. Originality/value - The paper interestingly portrays the effective usage of multicriteria decision-making and ranking method to help marketing managers predict their marketing trends.

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