mkis term paper

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MarketingInformation System

Department ofMarketing

University of Dhaka


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Term paper [MKIS OF PRIME BANK LTD.]

Term Paper On

Marketing Information System

Of

Prime Bank Ltd.

Course No: 323

Prepared for

Mr. Abureza Mohammad Muzareba

Lecturer

Dept. of Marketing

University of Dhaka

Prepared by

Vis@vis

Section-B

BBA 15th Batch

Department of MarketingUniversity of Dhaka

Submission date: November 15, 2010

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GROUP PROFILE

LETTER OF TRANSMITTAL

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SL. No Name Roll

01 Saidul Meher 016

02 G. M. Riazuddin 030

03 Rupesh Barua 078

04 Mohammad Azizul Islam 118

05 Farhana Haque Aupi 148


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November 15, 2011

Mr. Abureza Mohammad Muzareba

Lecturer

Dept. of Marketing

University of Dhaka

Subject: Letter regarding submission of Term Paper on MKIS of Prime Bank

Dear Sir,

Its a great pleasure for us to have the opportunity to submit a report on Marketing

Information System which had been a great experience for us to work with such a practicalissue & to have the opportunity to know about the system in which marketing data isformally gathered, stored, analyzed and distributed to managers in accordance withtheir informational needs on a regular basis. We tried utmost to make & let it look like aprofessional one. Any shortcomings are expected to have a kind view for ourencouragement.

Our efforts will be valued, if this report can serve for what its been meant for & ourassistance will be there for any queries.

Sincerely yours,

Group Vis@visSection BBBA 15th BatchDepartment of MarketingUniversity of Dhaka

ACKNOWLEDGEMENT

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First of all, all the praise belongs to Allah, the all knower & the best helpers to makeour report a practical one by providing us the mental & physical toughness in course

of preparation of the term paper.

Our next honest & heartiest gratitude goes to Abureza Mohammad Muzareba,lecturerand our honourable course teacher for his sincere and utmost guidance toprepare this term paper & gather huge practical and realistic knowledge, to make usunderstand the topics, terms & make us familiar with this course.

We would like to express our heartfelt gratitude to S.M. Didarul Hasan, SeniorMarketing Executive, Prime Bank Ltd. for his kind help in gathering information andmaking this paper a better one.

We would like to express our heartfelt gratitude to all our friends who helped us byproviding their valuable views & ideas with all types of support that they couldprovide.

TABLE OF CONTENT

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Subject Page No

Executive summary 07

Introduction 08

A Framework for a Marketing Information System 09-10

An overview of Prime Bank 11-12

Products and Services of prime Bank 13

Alternative Delivery Channel14-15

Marketing research & forecasting of Prime Bank ltd. 16

Problems in MKIS of Prime Bank 17

Recommendations 18

Conclusion 18

References 19

EXECUTIVE SUMMERY

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Marketing information systems are intended to support management decision making.Management has five distinct functions and each requires support from an MIS. These are:

planning, organizing, coordinating, decisions and controlling.

Information systems have to be designed to meet the way in which managers tend to work.Research suggests that a manager continually addresses a large variety of tasks and is ableto spend relatively brief periods on each of these. Given the nature of the work, managerstend to rely upon information that is timely and verbal (because this can be assimilatedquickly), even if this is likely to be less accurate then more formal and complex informationsystems.

Prime Bank, since its beginning has attached more importance in technology integration. Inorder to retain competitive edge, investment in technology is always a top agenda and underconstant focus. Keeping the network within a reasonable limit, our strategy is to serve the

customers through capacity building across multi-delivery channels. As a result of theintroduction of MKIS in prime bank in introduced different online facilities through which itcollects the customers data, processes it, gives feedback to the decision makers.

INTRODUCTION

MarketingInformation system is to collect, sort, analyze, and evaluate the informationrelating to marketing. After this, information is distributed to marketing decisions makers.Internal company records and marketing research are the main sources of marketinginformation.

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http://shiksha-mba.blogspot.com/2010/04/what-is-marketing-what-are-five.htmlhttp://shiksha-mba.blogspot.com/2010/04/what-is-marketing-what-are-five.htmlhttp://shiksha-mba.blogspot.com/2010/04/what-is-marketing-what-are-five.html


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A formal MKIS can be of great benefit to any organization whether profit making or non profitmaking, no matter what its size or the level of managerial finesse. It is true today that inmany organizations an MKIS is integrated as part of a computerized system. To manage abusiness well is to manage its future and this means the management of information, in the

form of a companywide Management Information System" (MIS) of which the MKIS is anintegral part, is an indispensable resource to be carefully managed just like any otherresource that the organization may have e.g. human recourses, productive resources,transport resources and financial resources.

A Framework for a Marketing InformationSystem

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Information system in marketing

Data gathering: the focus of data gathering for marketing is the customer base, competitorsand the marketing environment in general. The data from these components are stored toorganizational TPS (Figure 1, arrow 1). It may also be stored directly to operational MKIS

(arrow 2); or data may be transferred to operational MKIS through TPS (arrow 3). The datain TPS are essentially quantitative. On the other hand, marketing information gathered in

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operational MKIS is qualitative in nature, especially concerning customers buying behavior.Order status, sales forecasts and other management reports are normally presented in MIS.The sources of these figures are especially TPS (arrow 4) and operational MKIS (arrow 5).In addition to these figures, there is a need for external marketing information to complementinternal information which supports, explains and deepens the information available (arrow

6). If needed, external marketing information can also be transferred directly into DSS,management MKIS and EIS/ESS (arrow 6). External information sources in these systemsare mostly data banks and commercial databases.

From data to information and knowledge: TPS are, together with operational MKIS,essential systems for gathering marketing information. Operational MKIS are, in addition tothis, vital for implementing marketing and sales activities. All information systems presentedin Figure 1 are used for refining and analyzing marketing information needed as a basis ofmarketing planning and decision making problems facing the company. However, inoperational MKIS the direction of data and gathered information is twofold gathered andanalyzed information is also used in different sales and marketing activities, such as directmail and telemarketing. Management controls markets, plans marketing activities, analyses

target markets and makes decisions based on the information offered by MKIS. Vital internalinformation sources for management MKIS are operational MKIS (arrow 7) (especiallyconcerning qualitative customer and market information) and MIS in general (8). Thisinformation, which is gathered for planning and decision making, is used in managementMKIS. The objective of management MKIS is to transform data to information and finally toknowledge. This knowledge is needed especially in R&D, market forecasting and planning.Thus, MKIS can be seen as an integrated, intensive and vital part of a companys ISportfolio.

Analysis and decision making:As one can observe from Figure 1, the MKIS have clearlybecome a tool for analysis and decision making, and have developed closer to DSS.

Information sources for DSS are illustrated in Figure 1 (arrows 6 and 9-12).From the MKIS,market information needed in decision-making situations is transferred to DSS (arrows11,12). Senior executives analyze the information from different sources by using EIS/ESS(arrows 6, 13, 14) in addition to DSS. Sales- and marketing-related decisions made bysenior executives are returned to management MKIS (arrow 14), which itself is transferred tobe implemented in operational MKIS (arrow 7).

An Overview of Prime Bank

In the backdrop of economic liberalization and financial sector reforms, a group of highlysuccessful local entrepreneurs conceived an idea of floating a commercial bank with

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different outlook. For them, it was competence, excellence and consistentdelivery of reliable service with superior value products. Accordingly, Prime Bank wascreated and commencement of business started on 17th April 1995. The sponsors arereputed personalities in the field of trade and commerce and their stake ranges fromshipping to textile and finance to energy etc.

As a fully licensed commercial bank, Prime Bank is being managed by a highly professionaland dedicated team with long experience in banking. They constantly focus onunderstanding and anticipating customer needs. As the banking scenario undergoeschanges so is the bank and it repositions itself in the changed market condition.

Prime Bank has already made significant progress within a very short period of its existence.The bank has been graded as a top class bank in the country through internationallyaccepted CAMELS rating. The bank has already occupied an enviable position among itscompetitors after achieving success in all areas of business operation.

Prime Bank offers all kinds of Commercial Corporate and Personal Banking services

covering all segments of society within the framework of Banking Company Act and rulesand regulations laid down by our central bank. Diversification of products and servicesinclude Corporate Banking, Retail Banking and Consumer Banking right from industry toagriculture, and real state to software.

Prime Bank, since its beginning has attached more importance in technology integration. Inorder to retain competitive edge, investment in technology is always a top agenda and underconstant focus. Keeping the network within a reasonable limit, our strategy is to serve thecustomers through capacity building across multi-delivery channels. Our past performancegives an indication of our strength. We are better placed and poised to take our customersthrough fast changing times and enable them compete more effectively in the market they

operate.

Prime Banks Vision

To be the best Private Commercial Bank in Bangladesh in terms of efficiency,

capital adequacy, asset quality, sound management and profitability havingstrong liquidity.

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Prime Banks Mission

To build Prime Bank Limited into an efficient, market-driven, customer focusedinstitution with good corporate governance structure.

Continuous improvement of our business policies, procedure and efficiencythrough integration of technology at all levels.

Corporate Philosophy

For our Customers

To provide the most courteous and efficient service in every aspect of its business. To beinnovative in the development of new banking products and services.

For our Employees

By promoting their well-being through attractive remuneration and fringe benefits.By promoting good staff morale through proper staff training and development, and

provision of opportunities for career development.

For our Shareholders

By forging ahead and consolidating its position as a stable and progressive financialinstitution.

By generating profits and fair return on their investment.

For our Community

By assuming our role as a socially responsible corporate citizen in a tangible manner Byadhering closely to national policies and objectives thereby contributing towards theprogress of the nation.

By upholding ethical values and best practices.

Products & Services of Prime Bank Ltd.

Retail Banking:

Deposits. Loans.

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Cards internet banking.

SMS Banking.

Locker Service.

Corporate Banking: General credit unit.

Export finance unit.

Structured finance unit.

Lease finance unit.

Islamic Banking:

Deposit investment.

Foreign trade. Remittance & fund transfer.

SME Banking:

Easy loan.

Capital loan.

Working capital loan.

Seasonal loan.

Double loan.

Women entrepreneur loan.

Agricultural loan.

Offshore Banking.

NRB Banking.

Treasury.

Alternative Delivery Channel

Internet Banking

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Enjoyreal-time

internet banking with us. Just click to do bank transactions wherever you are, anytime you

want. It is safe and convenient to access your account 24/7.

What They Offer in Internet Banking:

Procedure to apply:

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Balance enquiry

View account statement

View loans schedule

View deposit schedule


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Phone Banking

Prime bank Phone Banking Service provides 24/7 continuous support for you. The mainservices are:

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Download the internet banking application form this link or collect the internet bankingapplication form from Prime Bank branch.

Fill all the account details.

The internet banking application form must be signed by accountholder.

Submit the form to your respective branch office.

Prime Bank will send the password to you by mail.

User Tips to Start the Use:

For getting the service, you have to change your User ID and login passwords.

Please insert your secret question and answer

Please change your own profile using the personal preferences like e-mail address,preferred language, statement order etc.

You can take printouts of your statements.
http://www.primebank.com.bd/downloads/ib_application_form.pdfhttp://www.primebank.com.bd/downloads/ib_application_form.pdf


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Service Accessibility

All account holders of Prime Bank or holding a Prime Bank Debit Card and Credit Card canget this service. To access this service customer must fill up the Phone Banking ApplicationForm and must acknowledge the Terms & Conditions for the service.

Marketing Research & Forecasting Of Prime Bank Ltd.

Prime Bank Ltd. has a strong R&D team who always evaluate the market to find out thecurrent trend of the market. They also try to forecast the future trend of the market. For thispurpose Prime Bank Ltd. has a respective manager & three (3) sub-managers always workresponsibly under his supervision.

The team structure of R&D

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Balance Enquiry: Customer will get account balance information.

Change TIN: Customer can change their TIN (Telephone Identification Number).

Activate ATM/Master Card: Customer can activate ATM/Master Debit card by dialing theservice contact number.

Block ATM/Master Card: Customer can block ATM/ Master Debit card by dialing theservice contact number.

Credit Card Available Limit: Credit Card user can get current available limit.

Credit Card Total Outstanding: Credit Card user can know credit card total outstandingbill amount.

Credit Card Minimum Payable Amount: Credit Card user can know minimum payableamount of last bill amount.

Credit Card Last Statement Generation Date: Credit Card user can know last statementgeneration date.

Credit Card Last Date of Payment: Credit Card user can know last date of payment forrecent bill amount.


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Problems in Prime banks MKIS:

Lack of knowledge about MKIS.

Insufficient technology.

Lack of skilled manpower.

Insufficient security to protect the data using in MKIS.

Low investment in MKIS dept.

Lacking of specialization.

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R&D

Manager

Data collection

manager

Data storage &

analyzing

manager

Data reporting

manager


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Recommendation:

Prime Bank Ltd. should make their employee aware about the MKIS to be used in theorganization.

The bank should try to make available the required technology to be best benefittedfrom MKIS.

The employees concerned about this issue should be proper skilled. Therefore bank

should arrange training for them.

Data collection, storing, analyzing & reporting security must be ensured.

Investment in MKIS dept. must be increased.

MKIS dept. should be a special dept. with special consideration.

Conclusion:

Prime bank Ltd. is a pioneer in the private banking sector of Bangladesh. Though the termMKIS is new in Bangladesh Prime bank has gone a long way in implementing this system.Though they have many problems & drawbacks in their MKIS, they are trying to develop astrong MKIS team through which they can implement the system fully & efficiently. And theirinitiative is really praiseworthy.

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References

Corporate Head office, Prime Bank ltd. Dilkusa Commercial Area, Motijheel, Dhaka-1000

www.primebank.com.bd

www.wikipedia.com

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http://www.primebank.com.bd/http://www.wikipedia.com/http://www.primebank.com.bd/http://www.wikipedia.com/


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