MARKETING INFORMATION SYSTEMS A LONGITUDINAL ANALYSIS
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Retail Banking and Wealth Management — JAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
What is a Marketing Information System (MkIS) in the context of banking?
A Marketing Information System (MkIS) is an organised set of procedures, tools, and techniques for gathering, analysing, and distributing timely and accurate information to support marketing decisions in a bank.
What is the primary purpose of longitudinal analysis in bank marketing information systems?
To track marketing trends and customer behavior changes over time.
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 4P framework and how is it supported by a bank's MkIS?
Product, Price, Place, Promotion — MkIS provides data for each decision.
What does the internal records system in a bank's MkIS typically include?
It includes data on deposits, loans, customer transactions, branch performance, revenue, cost of funds, and other operational records generated from the bank's day-to-day activities.
What is meant by 'marketing mix' in the context of retail banking products?
Combination of product, pricing, distribution, and promotion strategies.
What is the role of the marketing intelligence system within a bank's MkIS?
The marketing intelligence system provides everyday information about developments in the external marketing environment, including competitor activities, regulatory changes, and customer behaviour trends.
How does an MkIS help a bank identify cross-selling opportunities?
By analyzing existing customer profiles and product usage patterns.
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