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MARKETING INFORMATION SYSTEMS
What is a Marketing Information System (MkIS) in the context of banking?
A Marketing Information System (MkIS) is an organised set of procedures, people, and technology used to gather, sort, analyse, evaluate, and distribute timely and accurate marketing information to aid banking decision-making.
What is the primary objective of a Marketing Information System in a bank?
To collect, analyze and distribute marketing data for decision-making.
What are the four main components of a Marketing Information System?
The four main components are: Internal Records System, Marketing Intelligence System, Marketing Research System, and Analytical Marketing System (Decision Support System).
What is the role of a Competitive Intelligence System within a bank's MkIS?
Monitors competitor products, pricing and market positioning.
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