A Hybrid MCDM Model to Identify and Prioritize of Promotional Mix Tools in Plastic Industry
Subject Areas : Industrial ManagementAli Mohaghar 1 , Shahram Hashemnia 2 , Seyed Hojjat Bazazzadeh 3 , Roya Eghbal 4
1 - Associate Professor, Faculty of Management, University of Tehran, Tehran, Iran
2 - Assistant Professor of Department of Business Administration & MBA, Payame Noor University, Tehran, Iran
3 - Master Senior of Department of Business Administration & MBA, Payame Noor University, Tehran, Iran
4 - Master of Science in Master Of Business Administration (MBA), Payam-e -Noor University of Karaj, Iran
Keywords:
Abstract :
Marketing is a process by which people exchange goods and meet their needs and demands. Marketing mix or 4p (product price, place, promotion) is a powerful tool that helps to advance marketing goals. The purpose of promotion is the activities by which the company gives costumer good information about its products and encourages him/her to purchase. So, by prioritization of the components of promotion mix (Advertisement, Sale promotion, Public relations, Personal selling, Direct marketing) compatible with any business, increase in the sale can be achieved. The purpose of this study is to help managers in plastic industry companies in order to identify and prioritize mix promotional tools to improve their sale. For this purpose, 22 effective promotional tools in the plastic industry were identified with the help of library research and experts ideas. 105 head managers with at least 5 years of experience were examined. To collect the data, the researchers used a questionnaire with Cronbach Alpha with the range of 65-83 for all the items and the Validity of questionnaire was confirmed by the experts. After identifying appropriate mix promotional tools by experts, they were prioritized by MADM methods (SAW, TOPSIS, ELECTRA, and LINMAP). As the results of mentioned methods were not the same, in order to reach a consensus, the researchers used mix methods called Copeland. The result of prioritizing by Copeland showed that TV advertisement, trade fairs (creating a special imagination in costumer’s mind by showing the product) and present sale of the product, have more priority relative to other tools. Based on the results, managers and marketers in the plastic industry will be able to identify the best mix promotional methods by the use of multi-attribute decision-making methods and so they can enhance their sale.
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Gupta, N. & R. Raman (2014). “Selection of Microstrip Patch Antenna Substrate for WLAN Application Using Multiple Attribute Decision Making Approach.” International Journal of Microwave Science and Technology 2014.
Hadi-Vencheh, A. & M. Mirjaberi (2014). “Fuzzy inferior ratio method for multiple attribute decision making problems.” Information Sciences 277: 263-272.
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Herrera, F., López, E., & Rodriguez, M. A. (2002). “A linguistic decision model for promotion mix management solved with genetic algorithms.” Fuzzy Sets and Systems, 131(1):47-61.
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Hill, D.J., R.R. Piggott and C.R. Griffith (2001). “Profitability of cremental generrie promotion of Australian dairy products.” Journal of Agricultural Economic, 26:253-266.
Huang, Y.-T. & F.-F. Cheng (2013). “The Effect of Online Sales Promotion Strategies on Consumers' Perceived Quality and Purchase Intention: A Moderating Effect of Brand Awareness.” Service Science and Innovation (ICSSI), 2013 Fifth International Conference on, IEEE.
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Joo, M., et al. (2015). “Effects of TV advertising on keyword search.” International Journal of Research in Marketing.
Judd, L. L., et al. (2015). “The Effect of Promotion Variables and Competitive Situations on Small Retailers’ Profitability.” Proceedings of the 1986 Academy of Marketing Science (AMS) Annual Conference, Springer.
Kahraman, C., Cebeci, U., & Ulukan, Z. (2003). “Multi-criteria supplier selection using fuzzy AHP.” Logistics Information Management. 16(6): 382–394.
Kelleher, T. (2015). “Everybody’s Job? Managing Public Relations In The Age Of Social Media.” Public Relations As Relationship Management: A Relational Approach To the Study and Practice of Public Relations: 281.
Klein, D. O. & J. R. Wueller (2015). “Intellectual Property Concerns for Sponsors of Promotional Contests and Sweepstakes.” Licensing Journal (Apr. 2015, Forthcoming).
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Konuk, F. A. & C. Griffith (2015). “The effects of price consciousness and sale proneness on purchase intention towards expiration date-based priced perishable foods.” British Food Journal 117(2.(
Korhonen, J. (2014). “B2B-Telemarketing Model for an International IT-Company.”
Kotler, P., & Armstrong, G. (2013). “Principles of Marketing.” 15th Global Edition. Pearson.
Kotler, P., Bowen, J. R., and Makens, J. (2013). “Marketing for hospitality and tourism.” Pearson Higher Ed.
Kumar, S. H. and M. Suratkumari (2015). “Impact of prime-time revolution on radio advertising in Bangalore city.” International Journal of Marketing and Technology 5(1): 120-126.
Lai, F. W. (2014). “Impact of Marketing Communication Strategies on Consumers’ Acceptance and Brand Equity in Malaysian Fertilizer Industry.”
Lakshmi, S. R. and P. Santhi (2015). “Policyholders Service Satisfaction on Marketing Mix of Life Insurance Corporation of India.” Asian Journal of Research in Business Economics and Management 5(1): 97-108.
Leeflang, P. S., et al. (2015). “Examples of Database Marketing Models.” Modeling Markets, Springer: 307-336.
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