Evaluation and Selection Criteria for Brand Extension Strategies by Using Fuzzy Decision-Making Theories (A Case Study: Bank Saderat Iran/Zahedan)

Brands of organizations are one of the most valuable assets which play an important role in the development of markets and their success.Nonetheless, most of markets do not know how they can help develop their brands via effective methods and with minimum cost and time. Inthis study, evaluation criteria and methods of brand extension along with the literature review have been identified and fuzzy multi-criteria decision-making techniques (DEMATEL- ANP- VIKOR) have been prioritized. In order to evaluate the criteria and prioritize brand extension strategies, the opinions of a group of experts and authorities(10 people) from one of the biggest banks in Iran (Bank Saderat Iran) were employed using a questionnaire. The adjustment index of pairedcomparison scaling was smaller than 1.0 and it was in the desirable range. To determine the relationships between the evaluation criteria inthis study, the DEMATEL approach was used and the fuzzy ANP technique was also utilized to assess the weight of each of the criteriafor evaluating brand extension strategies. As well, to set the priorities of the brand extension strategies in the banking industry and based on theimportance of evaluation criteria, the VIKOR technique was used. The results of this study revealed that among the brand extension criteria;the profit factor is ranked the first, followed by the cost factor, opportunity factor, and risk factor at the second to the fourth rankings;respectively. Moreover, the results demonstrated that TV, mobile, and the Internet are the most desirable advertising channels to increase brand popularity among people, and they are the most effective way to introduce brands to banking customers.

Keywords:

Brand , brand extension , strategy , fuzzy decision-making techniques