In the fast-paced world of marketing, making timely and accurate decisions is crucial for maintaining competitive edge. The research study delves into the application of the Fuzzy Delphi method in the marketing domain, addressing the need for effective decision-making tools that can handle uncertainty and provide reliable forecasts.
The Delphi method, a systematic forecasting approach relying on expert consensus through iterative surveys, has long been recognized for its efficacy in various scientific and managerial areas. However, its traditional form has limitations, such as susceptibility to subjective interpretation and the lengthy time required for consensus building. The Fuzzy Delphi method, an enhancement of the traditional approach, incorporates fuzzy set theory to better manage the inherent uncertainty and vagueness in expert judgments.
The study provides a scientific literature in this area focusing on the method’s integration in marketing research. It reveals that despite the Fuzzy Delphi method’s widespread application in operations management and decision sciences, its adoption in marketing remains limited. The methodology involves analyzing previous applications, identifying the extent of the method’s use, and determining its effectiveness in addressing marketing-specific issues.
Key findings highlight the method’s utility in operations management, decision sciences, and business intelligence, but a notable underutilization in marketing. The research suggests a gap in marketing studies’ methodology, advocating for a broader adoption of Fuzzy Delphi to leverage its potential in developing successful marketing strategies, especially in environments marked by uncertainty and rapid change.
This research not only provides a comprehensive overview of the Fuzzy Delphi method’s applications but also paves the way for future studies to explore its potential in enhancing marketing decision-making processes. By bridging expert insight with robust data analysis, the Fuzzy Delphi method stands as a promising tool for advancing marketing research and practice in the face of uncertainty.
Click on link to read the full publication: Application of a Fuzzy Delphi Method in Marketing: A Review.
Citation: Ljepava, N., & Aleksic, A. (2024). Application of a Fuzzy Delphi Method in Marketing: A Review. American University in the Emirates International Research, 1-9.
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