Title: Formulation of marketing strategy for an automobile firm by multi-criteria decision-making tool
Authors: Das R. Gowri; R. Rajesh
Addresses: Department of Mechanical Engineering, Rajiv Gandhi Institute of Engineering, Kottayam, Kerala, 686501, India ' Department of Mechanical Engineering, Rajiv Gandhi Institute of Engineering, Kottayam, Kerala, 686501, India
Abstract: A marketing strategy due to poor decision-making strategy can have significant impact on a firm's operational performance. The objective of this paper is to highlight a case study of an automotive firm in South India on reformulating an automotive firms marketing strategy. First, a causal analysis of the firm's poor performance is made and a strategic plan for revival was framed. Next, a marketing strategy was reformulated using multi-criteria decision-making techniques, ANP and TOPSIS. Superdecision software is used to undertake ANP analysis and subsequently TOPSIS analysis was done to rank the different marketing strategies. Four major marketing strategies, differentiation strategy, market niche strategy, segmentation strategy and product variety marketing strategy were studied and discussed. Segmentation strategy is best suited for the firm. The sub-criteria which support the segmentation strategy are advertisement capabilities or promotion capabilities. Specific recommendations for segmentation strategy are made.
Keywords: automobile; marketing strategy; MCDM; ANP; TOPSIS; superdecision software; network model; segmentation strategy; advertisement.
International Journal of Markets and Business Systems, 2018 Vol.3 No.4, pp.362 - 373
Received: 21 Jun 2018
Accepted: 29 Oct 2018
Published online: 14 Feb 2019 *