Deriving Consensus Rankings Via Multicriteria Decision Making Methodology

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DERIVING CONSENSUS RANKINGS VIA MULTICRITERIA DECISION MAKING METHODOLOGY
1AmyPoh. AL, 2M. N. Saludin, 1M. Mukaidono
1Faculty of Science and Technology, Meiji University
2Faculty of Management & Defense Study, National Defense University of Malaysia
ABSTRACT
Purpose – This paper takes a cautionary stance to the impact of marketing mix on customer satisfaction, via a case study deriving consensus rankings for benchmarking on selected retail stores in Malaysia.
Design/methodology/approach – ELECTRE I model is used in deriving consensus rankings via multicriteria decision making method for benchmarking base on the marketing mix model 4Ps. Descriptive analysis is used to analyze the 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 has looked 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 rough outline of potential marketing activities that can be used to take advantage of capabilities and convert weaknesses and threats.
Originality/value – This paper interestingly portrays the effective usage of multicriteria decision making and ranking method to help marketing manager predict their marketing trend.
Keywords: Marketing mix, Customer satisfaction, Retailing, Benchmarking, Multicriteria decision-making, ELECTRE I method
Type of paper: Research Paper
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1. INTRODUCTION
With increasing globalization, local retailers find themselves having to compete with large foreign players by targeting niche markets. To excel and flaunt as a market leader in an ultramodern era and a globalize world, the organizations must strive to harvest from its marketing strategies, benchmarking and

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