MARKETING INFORMATION SYSTEMS
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, 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.
What does the Internal Records System in a bank's MkIS typically capture?
It captures data on orders, sales, prices, costs, inventory levels, account balances, customer transactions, and financial flows generated within the bank's own operations.
What does the term 'market penetration rate' measure in bank marketing analytics?
Percentage of target customers using a specific bank product.
What is the purpose of a Marketing Intelligence System in banking?
The Marketing Intelligence System provides day-to-day information about developments in the external marketing environment, including competitor activities, regulatory changes, and market trends.
What is cross-selling analysis in the context of a bank's MkIS?
Identifying opportunities to sell additional products to existing customers.
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