Abstract

Market segment evaluation and selection is one of the most important marketing activities of all companies to improve business performance. Selection of market segment plays an important role to focus on the market for applying various strategies and maintaining competitive advantages. It is very crucial to select the appropriate market segment. In evaluating and selecting market segments, decision-makers must consider various criteria which involve in the decision-making process. The paper presents a fuzzy TOPSIS approach for market segment evaluation and selection. The proposed approach is used to calculate the weight of each criterion which is expressed in linguistic variables. The linguistic variables are represented as triangular fuzzy numbers. Based on the criteria, the proposed approach generates aggregate scores and closeness coefficients to rank the market segments. The computation procedure of the approach is illustrated through an example to clarify the results.

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