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Determination and Ranking of Effective Advertising Media Employed by Iran Private Banks Using Analytical Hierarchy Process Technique

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Listed:
  • Arshad Hedayati
  • Arvin Fouladifar
  • Elham Taghipour

Abstract

Banks use various advertisingmediato develop their marketing plans.However, all the advertising media have not the same impacts on the economic growth of banksas their efficiencies are influenced by several technical and socialfactors. In this study, we investigate the importance of various advertising media on the progress of Iran private banks based on the evaluation of some important parameters such asthe media cost, geographical selection power, audiences’ media habits, type of the advertising message and advertisements of competitor banks.In this regard, television, newspapers and magazines, radio, and billboard and sport fields are selected as the mainmedia for the banks commercial activities. Using the analytical hierarchy process (AHP) method, the media cost with the importance of 34.3% is the main parameter and the type of the message with the importance of 10.2% is the least important factor influencing the selection of media by the banks for the advertisement operations. The results show that the effectiveness of advertising media is different sincetelevision with the importance of 47.3% is placed in the first level and the billboard and sport fields with 9% importance is in the last place. In general, the order of priority of advertising media is-television>newspapers and magazines> radio> billboard and sport fields.This study offers insight into the development of analysis for the selection of effective advertisingtools based on the factors related to the advertisement properties and the community behavior.

Suggested Citation

  • Arshad Hedayati & Arvin Fouladifar & Elham Taghipour, 2016. "Determination and Ranking of Effective Advertising Media Employed by Iran Private Banks Using Analytical Hierarchy Process Technique," Modern Applied Science, Canadian Center of Science and Education, vol. 10(9), pages 1-60, September.
    • Handle: RePEc:ibn:masjnl:v:10:y:2016:i:9:p:60
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    References listed on IDEAS

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    1. Kwak, N. K. & Lee, Chang Won & Kim, Ji Hee, 2005. "An MCDM model for media selection in the dual consumer/industrial market," European Journal of Operational Research, Elsevier, vol. 166(1), pages 255-265, October.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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