IDEAS home Printed from https://ideas.repec.org/a/spr/operea/v24y2024i3d10.1007_s12351-024-00847-4.html
   My bibliography  Save this article

A web-based multi-criteria decision support system for benchmarking marketing decisions alternatives

Author

Listed:
  • Dimitrios Chelioudakis

    (Technical University of Crete)

  • Fotini Kalafati

    (Technical University of Crete)

  • Efstathios Gerampinis

    (Technical University of Crete)

  • Nikolaos F. Matsatsinis

    (Technical University of Crete)

Abstract

This paper introduces a web-based decision support system that is designed to facilitate market analysis and simulation by utilizing the MARKEX methodology. The primary objective of this user-friendly system is to provide the right tools for consumer behavior analysis and market segmentation. The online decision support system is developed using the Python and Java programming languages and integrates extensive market research databases. Moreover, its model base incorporates several powerful techniques, such as the UTASTAR multi-criteria method, brand choice models, a heuristic model, and an innovative product life cycle (utilities based) simulation model. By leveraging these advanced capabilities, decision-makers can harness the system's potential to gain valuable insights and make informed decisions for the growth of businesses and organizations. With current market demands and advancements in technology, this expanded online decision support system effectively addresses the need for comprehensive and effective market analysis tools, thus making it the ideal tool for decision-makers.

Suggested Citation

  • Dimitrios Chelioudakis & Fotini Kalafati & Efstathios Gerampinis & Nikolaos F. Matsatsinis, 2024. "A web-based multi-criteria decision support system for benchmarking marketing decisions alternatives," Operational Research, Springer, vol. 24(3), pages 1-31, September.
    • Handle: RePEc:spr:operea:v:24:y:2024:i:3:d:10.1007_s12351-024-00847-4
    DOI: 10.1007/s12351-024-00847-4
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s12351-024-00847-4
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s12351-024-00847-4?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Siskos, Y. & Matsatsinis, N. F. & Baourakis, G., 2001. "Multicriteria analysis in agricultural marketing: The case of French olive oil market," European Journal of Operational Research, Elsevier, vol. 130(2), pages 315-331, April.
    2. Juan Carlos Leyva López & Jesús Jaime Solano Noriega & Omar Ahumada Valenzuela & Alma Montserrat Romero Serrano, 2022. "A preference choice model for the new product design problem," Operational Research, Springer, vol. 22(4), pages 1-32, September.
    3. Baourakis, G. & Matsatsinis, N. F. & Siskos, Y., 1996. "Agricultural product development using multidimensional and multicriteria analyses: The case of wine," European Journal of Operational Research, Elsevier, vol. 94(2), pages 321-334, October.
    4. Matsatsinis, Nikolaos F. & Siskos, Yannis, 1999. "MARKEX: An intelligent decision support system for product development decisions," European Journal of Operational Research, Elsevier, vol. 113(2), pages 336-354, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gabriela D. Oliveira & Luis C. Dias, 2020. "The potential learning effect of a MCDA approach on consumer preferences for alternative fuel vehicles," Annals of Operations Research, Springer, vol. 293(2), pages 767-787, October.
    2. Karipidis, Philippos I. & Tsakiridou, Efthimia & Tabakis, Nikolaos M., 2005. "The Greek Olive Oil Market Structure," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 6(1), pages 1-9.
    3. Kadziński, Miłosz & Wójcik, Michał & Ciomek, Krzysztof, 2022. "Review and experimental comparison of ranking and choice procedures for constructing a univocal recommendation in a preference disaggregation setting," Omega, Elsevier, vol. 113(C).
    4. Byungok Ahn & Boyoung Kim & Jongpil Yu, 2022. "Effects of Supplier’s Competitive Factors on Relationship Performance and Product Recommendation in Crop Protection Retail Sector," JRFM, MDPI, vol. 15(11), pages 1-17, November.
    5. Tiago Silveira Gontijo & Alexandre de C ssio Rodrigues & Cristiana Fernandes De Muylder & Jefferson Lopes la Falce & Thiago Henrique Martins Pereira, 2020. "Analysis of Olive Oil Market Volatility using the ARCH and GARCH techniques," International Journal of Energy Economics and Policy, Econjournals, vol. 10(3), pages 423-428.
    6. Siskos, Y. & Spyridakos, A., 1999. "Intelligent multicriteria decision support: Overview and perspectives," European Journal of Operational Research, Elsevier, vol. 113(2), pages 236-246, March.
    7. Luigi Roselli & Domenico Carlucci & Bernardo Corrado Gennaro, 2016. "What Is the Value of Extrinsic Olive Oil Cues in Emerging Markets? Empirical Evidence from the U.S. E‐Commerce Retail Market," Agribusiness, John Wiley & Sons, Ltd., vol. 32(3), pages 329-342, July.
    8. Yuri Park & Hyunnam Kim & Jongsu Lee, 2009. "Model for Studying Commodity Bundling with a Focus on Consumer Preference," TEMEP Discussion Papers 200935, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Nov 2009.
    9. Jacquet-Lagreze, Eric & Siskos, Yannis, 2001. "Preference disaggregation: 20 years of MCDA experience," European Journal of Operational Research, Elsevier, vol. 130(2), pages 233-245, April.
    10. Samaras, Georgios D. & Matsatsinis, Nikolaos F. & Zopounidis, Constantin, 2008. "A multicriteria DSS for stock evaluation using fundamental analysis," European Journal of Operational Research, Elsevier, vol. 187(3), pages 1380-1401, June.
    11. Jin, Hyun Joung, 2011. "Consumer Willingness-to-Pay for Domestically Produced Wheat Products in South Korea," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 34(5), pages 1-17, December.
    12. Ismahene Aouadni & Abdelwaheb Rebai, 2017. "Decision support system based on genetic algorithm and multi-criteria satisfaction analysis (MUSA) method for measuring job satisfaction," Annals of Operations Research, Springer, vol. 256(1), pages 3-20, September.
    13. Pampanini, Rossella & Marchini, Andrea & Diotallevi, Francesco, 2010. "A quantitative analysis of olive oil market in Italy," MPRA Paper 40638, University Library of Munich, Germany.
    14. Imami, Drini & Chan-Halbrendt, Catherine & Zhang, Quanguo & Zhllima, Edvin, 2011. "Conjoint Analysis of Consumer Preferences for Lamb Meat in Central and Southwest Urban Albania," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 14(3), pages 1-16, September.
    15. Loebbecke, Claudia & Huyskens, Claudio, 2009. "Development of a model-based netsourcing decision support system using a five-stage methodology," European Journal of Operational Research, Elsevier, vol. 195(3), pages 653-661, June.
    16. Juan Carlos Leyva López & Jesús Jaime Solano Noriega & Omar Ahumada Valenzuela & Alma Montserrat Romero Serrano, 2022. "A preference choice model for the new product design problem," Operational Research, Springer, vol. 22(4), pages 1-32, September.
    17. Manuel Monge, 2024. "Trends and persistence in global olive oil prices after COVID-19," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 23(5), pages 481-488, October.
    18. Asimina Kouriati & Anna Tafidou & Evgenia Lialia & Angelos Prentzas & Christina Moulogianni & Eleni Dimitriadou & Thomas Bournaris, 2024. "A Multicriteria Decision Analysis Model for Optimal Land Uses: Guiding Farmers under the New European Union’s Common Agricultural Policy (2023–2027)," Land, MDPI, vol. 13(6), pages 1-22, June.
    19. Baltas, George, 2004. "A model for multiple brand choice," European Journal of Operational Research, Elsevier, vol. 154(1), pages 144-149, April.
    20. Matsatsinis, Nikolaos F. & Siskos, Yannis, 1999. "MARKEX: An intelligent decision support system for product development decisions," European Journal of Operational Research, Elsevier, vol. 113(2), pages 336-354, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:operea:v:24:y:2024:i:3:d:10.1007_s12351-024-00847-4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.