TOPSIS model based on entropy and similarity measure for market segment selection and evaluation
Purpose - The paper aims to propose a practical model for market segment selection and evaluation. The paper carries out a technique of order preference similarity to the ideal solution (TOPSIS) approach to make an operation systematic dealing with multi-criteria decision- making problem. Design/met...
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| Veröffentlicht in: | Asian Journal of Economics and Banking 2021-08, Vol.5 (2), p.194-203 |
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| container_title | Asian Journal of Economics and Banking |
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| creator | Duong, Truong Thi Thuy Thao, Nguyen Xuan |
| description | Purpose - The paper aims to propose a practical model for market segment selection and evaluation. The paper carries out a technique of order preference similarity to the ideal solution (TOPSIS) approach to make an operation systematic dealing with multi-criteria decision- making problem. Design/methodology/approach - Introducing a multi-criteria decision-making problem based on TOPSIS approach. A new entropy and new similarity measure under neutrosopic environment are proposed to evaluate the weights of criteria and the relative closeness coefficient in TOPSIS model. Findings - The outcomes show that the TOPSIS model based on new entropy and similarity measure is effective for evaluation and selection market segment. Profitability, growth of the market, the likelihood of sustainable differential advantages are the most important insights of criteria. Originality/value - This paper put forward an effective multi-criteria decision-making dealing with uncertain information. |
| doi_str_mv | 10.1108/AJEB-12-2020-0106 |
| format | Article |
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| ispartof | Asian Journal of Economics and Banking, 2021-08, Vol.5 (2), p.194-203 |
| issn | 2615-9821 2633-7991 |
| language | eng |
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| source | DOAJ Directory of Open Access Journals; Emerald Open Access; EZB-FREE-00999 freely available EZB journals |
| subjects | Competition Competitive advantage Decision making Entropy Fuzzy sets Hierarchies Market segmentation Market segments Profits Return on assets Similarity measures |
| title | TOPSIS model based on entropy and similarity measure for market segment selection and evaluation |
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