Hybrid multicriteria technique for international markets selection based on the analytic hierarchy process
Baena Rojas, Jaime José | 2022
Purpose: To present a rigorous technique for merchandise companies
that are internationalizing and pursuit the best options of export markets
to direct their products.
Originality/value: The literature suggests that companies, especially
small and medium enterprises (SME), due to their lack of experience
when participating in international business, tend to employ uncertainty
processes that affect in decision making when exporting. For this reason,
an innovative multivariable technique for international markets
selection (IMS) is presented, in which factors such as trade barriers,
economics, cost, logistics and culture are considered.
Design/methodology/approach: Consulting different databases obtained
from the internet, it was possible to analyze the factors indicated above,
which, in turn, are integrated by different variables. Thus, this work
used a multivariable methodology and/or technique that is complemented
with the analytic hierarchy process (AHP) to assign the weights
of each factor and their respective variables; all this, including a survey
among experts and members of the foreign trade department of the
company under study, in this case, dedicated to the production of confectionery.
Findings: According to the statistical data processed with the multivariable
technique and weighted with the AHP process, the results suggest
that by their score the best export markets are Ireland, Netherlands and
Denmark. In this sense, the empirical evidence indicates that the pointed
countries are the most attractive markets for the factors considered, as
well as for their general features.
Keywords: international markets selection, SME, exportation, internationalization,