Prioritizing Pricing Strategies For New Products In A Islamic Market Using Hybrid MCDM Approach (Case Study: Cellulose Materials And Paperback)

Document Type : Original Article

Author

• سید فخرالدین فخرحسینی

Associate Professor, Department of Accounting, Management and Accounting faculty, Islamic Azad University Tonekabon Branch, Tonekabon, Iran

Abstract

Purpose: Pricing of goods and services is one of the important topics of Islamic economics, which has long been the focus of the thinkers of the Islamic Society. The lack of government oversight of prices is a clear violation of social rights that has detrimental consequences. Therefore, in some cases, pricing should be considered. Pricing strategies differ for each stage of the product life cycle. Although each stage of product life has its own peculiarities and challenges, the most difficult and challenging stage is setting prices for new products .

Methodology: This paper is prioritized new product pricing strategies and offered appropriate solutions using multidisciplinary decision-making. In this research, to evaluate and select appropriate solutions is used a hybrid MCDM approach based on FANP-DEMATEL-FCOPRAS approaches due to a multiplicity of quantitative evaluation criteria and fuzzy nature of qualitative criteria. The statistical sample consists of 15experts and specialists of Shokouh Cellulose Materials and Paperback firm.

Findings, Conclusion: According to studies, the main criteria in this research are innovation, marketing, organization, customer, product, and technology, each of which in turn includes sub-criteria. The results show that the free product as if zero price in priority, combining multiple products into a single package and selling them for one price in the second priority have been.

Keywords

• Pricing Strategies
• Marketing
• Hybrid MCDM Approach

Main Subjects

• Economic and financial markets

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