Strategic Marketing Information System Planning: An Integrated BWM–ELECTRE Approach

Nitidetch Koohathongsumrit () and Pongchanun Luangpaiboon ()
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Nitidetch Koohathongsumrit: Ramkhamhaeng University
Pongchanun Luangpaiboon: Thammasat University

Group Decision and Negotiation, 2024, vol. 33, issue 2, No 2, 267-289

Abstract: Abstract Under competitive business scenarios, project selection is a crucial process for ensuring that projects appropriately align with an organization’s goals, available resources, and relationships. This study proposes a novel hybrid decision support model that integrates the best–worst method (BWM) with the elimination and choice expressing reality (ELECTRE) method to solve project selection problems. The approach can be used to determine the weights of criteria by comparing two vectors and to provide the best result based on concordance and discordance analysis. An empirical study regarding the selection of strategic marketing information system projects is conducted to demonstrate the proposed methodology’s benefits and rationality. The findings show that using the BWM–ELECTRE approach systematically leads to solid decision-making results involving compromise rankings based on quantitative and qualitative data, including decision-makers’ preferences. This study contributes to the literature with a new methodology that consumes less time, provides high consistency, and enables subjectivity reduction in human-based judgments while providing helpful information to decision-makers in choosing the best project and/or outranking results among different relationships, resource constraints, or dynamic environments.

Keywords: Multiple criteria decision-making; Hybridization approach; Project selection; Project management; Marketing information system (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10726-023-09861-x

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