International Market Selection Based on Integrated MCDM Methods: A Case Study of Iron and Steel Sector
International Market Selection (IMS) is crucial for companies seeking growth and expansion beyond their domestic boundaries. IMS is a strategic decision that requires careful evaluation of several factors to minimize risks and achieve long-term success in international markets. Accordingly, this stu...
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| Format: | Article |
| Language: | English |
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Selcuk University Press
2024-04-01
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| Series: | Selçuk Üniversitesi Sosyal Bilimler Meslek Yüksekokulu Dergisi |
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| Online Access: | https://dergipark.org.tr/tr/download/article-file/3744235 |
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| author | Emre Kadir Özekenci |
| author_facet | Emre Kadir Özekenci |
| author_sort | Emre Kadir Özekenci |
| collection | DOAJ |
| description | International Market Selection (IMS) is crucial for companies seeking growth and expansion beyond their domestic boundaries. IMS is a strategic decision that requires careful evaluation of several factors to minimize risks and achieve long-term success in international markets. Accordingly, this study aims to find out optimal market alternatives for exporter companies operated in iron and steel sector. A total of twenty-three market alternatives were evaluated based on ten criteria. The alternatives and criteria were determined by literature review and expert opinions. The weight of criteria was calculated by the FUCOM and LOPCOW methods. Once the weight of criteria was determined, the alternatives were ranked using the SPOTIS, RSMVC, CoCoSo and Borda Count methods. The results showed that balance of trade and GDP were the most and least important criteria, respectively. Overall results revealed that Canada, the UAE, Germany, Japan and Malaysia were the best market alternatives, while Venezuela, Mexico, Peru, Colombia and the UK were the worst market alternatives for iron and steel exporter companies. Additionally, the sensitivity analysis was carried out to observe the robustness of the results. |
| format | Article |
| id | doaj-art-95611967fa354668a46492612a376871 |
| institution | Kabale University |
| issn | 2564-7458 |
| language | English |
| publishDate | 2024-04-01 |
| publisher | Selcuk University Press |
| record_format | Article |
| series | Selçuk Üniversitesi Sosyal Bilimler Meslek Yüksekokulu Dergisi |
| spelling | doaj-art-95611967fa354668a46492612a3768712025-01-03T01:05:30ZengSelcuk University PressSelçuk Üniversitesi Sosyal Bilimler Meslek Yüksekokulu Dergisi2564-74582024-04-0127127429310.29249/selcuksbmyd.1440711154International Market Selection Based on Integrated MCDM Methods: A Case Study of Iron and Steel SectorEmre Kadir Özekenci0ÇAĞ ÜNİVERSİTESİInternational Market Selection (IMS) is crucial for companies seeking growth and expansion beyond their domestic boundaries. IMS is a strategic decision that requires careful evaluation of several factors to minimize risks and achieve long-term success in international markets. Accordingly, this study aims to find out optimal market alternatives for exporter companies operated in iron and steel sector. A total of twenty-three market alternatives were evaluated based on ten criteria. The alternatives and criteria were determined by literature review and expert opinions. The weight of criteria was calculated by the FUCOM and LOPCOW methods. Once the weight of criteria was determined, the alternatives were ranked using the SPOTIS, RSMVC, CoCoSo and Borda Count methods. The results showed that balance of trade and GDP were the most and least important criteria, respectively. Overall results revealed that Canada, the UAE, Germany, Japan and Malaysia were the best market alternatives, while Venezuela, Mexico, Peru, Colombia and the UK were the worst market alternatives for iron and steel exporter companies. Additionally, the sensitivity analysis was carried out to observe the robustness of the results.https://dergipark.org.tr/tr/download/article-file/3744235upsdemir ve çelik sektörüi̇hracatçkkvimsiron and steel sectorexportsmcdm |
| spellingShingle | Emre Kadir Özekenci International Market Selection Based on Integrated MCDM Methods: A Case Study of Iron and Steel Sector Selçuk Üniversitesi Sosyal Bilimler Meslek Yüksekokulu Dergisi ups demir ve çelik sektörü i̇hracat çkkv ims iron and steel sector exports mcdm |
| title | International Market Selection Based on Integrated MCDM Methods: A Case Study of Iron and Steel Sector |
| title_full | International Market Selection Based on Integrated MCDM Methods: A Case Study of Iron and Steel Sector |
| title_fullStr | International Market Selection Based on Integrated MCDM Methods: A Case Study of Iron and Steel Sector |
| title_full_unstemmed | International Market Selection Based on Integrated MCDM Methods: A Case Study of Iron and Steel Sector |
| title_short | International Market Selection Based on Integrated MCDM Methods: A Case Study of Iron and Steel Sector |
| title_sort | international market selection based on integrated mcdm methods a case study of iron and steel sector |
| topic | ups demir ve çelik sektörü i̇hracat çkkv ims iron and steel sector exports mcdm |
| url | https://dergipark.org.tr/tr/download/article-file/3744235 |
| work_keys_str_mv | AT emrekadirozekenci internationalmarketselectionbasedonintegratedmcdmmethodsacasestudyofironandsteelsector |