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Marketing Information System

Department of Marketing University of Dhaka

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 Marketing University of Dhaka

Submission date: November 15, 2010

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[MKIS OF PRIME BANK LTD.]

GROUP PROFILE

SL. No
01 02 Saidul Meher G. M. Riazuddin

Name

Roll
016 030

03

Rupesh Barua

078

04

Mohammad Azizul Islam

118

05

Farhana Haque Aupi

148

LETTER OF TRANSMITTAL
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[MKIS OF PRIME BANK LTD.]

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 practical issue & to have the opportunity to know about the system in which marketing data is formally gathered, stored, analyzed and distributed to managers in accordance with their informational needs on a regular basis. We tried utmost to make & let it look like a professional one. Any shortcomings are expected to have a kind view for our encouragement.

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

Sincerely yours,

Group Vis@vis Section B BBA 15th Batch Department of Marketing University of Dhaka

ACKNOWLEDGEMENT
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First of all, all the praise belongs to Allah, the all knower & the best helpers to make our 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, lecturer and our honourable course teacher for his sincere and utmost guidance to prepare this term paper & gather huge practical and realistic knowledge, to make us understand the topics, terms & make us familiar with this course. We would like to express our heartfelt gratitude to S.M. Didarul Hasan, Senior Marketing Executive, Prime Bank Ltd. for his kind help in gathering information and making this paper a better one. We would like to express our heartfelt gratitude to all our friends who helped us by providing their valuable views & ideas with all types of support that they could provide.

TABLE OF CONTENT
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[MKIS OF PRIME BANK LTD.]

Subject
Executive summary Introduction A Framework for a Marketing Information System An overview of Prime Bank Products and Services of prime Bank Alternative Delivery Channel Marketing research & forecasting of Prime Bank ltd. Problems in MKIS of Prime Bank Recommendations Conclusion References

Page No 07 08 09-10 11-12 13 14-15 16 17 18 18 19

EXECUTIVE SUMMERY
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[MKIS OF PRIME BANK LTD.]

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 able to spend relatively brief periods on each of these. Given the nature of the work, managers tend to rely upon information that is timely and verbal (because this can be assimilated quickly), even if this is likely to be less accurate then more formal and complex information systems. Prime Bank, since its beginning has attached more importance in technology integration. In order to retain competitive edge, investment in technology is always a top agenda and under constant 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 the introduction of MKIS in prime bank in introduced different online facilities through which it collects the customers data, processes it, gives feedback to the decision makers.

INTRODUCTION
Marketing Information system is to collect, sort, analyze, and evaluate the information relating to marketing. After this, information is distributed to marketing decisions makers. Internal company records and marketing research are the main sources of marketing information.

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[MKIS OF PRIME BANK LTD.]

A formal MKIS can be of great benefit to any organization whether profit making or non profit making, no matter what its size or the level of managerial finesse. It is true today that in many organizations an MKIS is integrated as part of a computerized system. To manage a business 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 an integral part, is an indispensable resource to be carefully managed just like any other resource that the organization may have e.g. human recourses, productive resources, transport resources and financial resources.

A Framework for a Marketing Information System

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Information system in marketing

Data gathering: the focus of data gathering for marketing is the customer base, competitors and the marketing environment in general. The data from these components are stored to organizational 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 data in TPS are essentially quantitative. On the other hand, marketing information gathered in

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[MKIS OF PRIME BANK LTD.]

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 complement internal 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 systems are 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 to this, vital for implementing marketing and sales activities. All information systems presented in Figure 1 are used for refining and analyzing marketing information needed as a basis of marketing planning and decision making problems facing the company. However, in operational MKIS the direction of data and gathered information is twofold gathered and analyzed information is also used in different sales and marketing activities, such as direct mail and telemarketing. Management controls markets, plans marketing activities, analyses target markets and makes decisions based on the information offered by MKIS. Vital internal information sources for management MKIS are operational MKIS (arrow 7) (especially concerning qualitative customer and market information) and MIS in general (8). This information, which is gathered for planning and decision making, is used in management MKIS. The objective of management MKIS is to transform data to information and finally to knowledge. 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 IS portfolio. Analysis and decision making: As one can observe from Figure 1, the MKIS have clearly become 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 (arrows 11,12). 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 by senior executives are returned to management MKIS (arrow 14), which itself is transferred to be implemented in operational MKIS (arrow 7).

An Overview of Prime Bank


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

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different outlook. For them, it was competence, excellence and consistent delivery of reliable service with superior value products. Accordingly, Prime Bank was created and commencement of business started on 17th April 1995. The sponsors are reputed personalities in the field of trade and commerce and their stake ranges from shipping to textile and finance to energy etc. As a fully licensed commercial bank, Prime Bank is being managed by a highly professional and dedicated team with long experience in banking. They constantly focus on understanding and anticipating customer needs. As the banking scenario undergoes changes 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 internationally accepted CAMELS rating. The bank has already occupied an enviable position among its competitors 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 rules and regulations laid down by our central bank. Diversification of products and services include Corporate Banking, Retail Banking and Consumer Banking right from industry to agriculture, and real state to software. Prime Bank, since its beginning has attached more importance in technology integration. In order to retain competitive edge, investment in technology is always a top agenda and under constant focus. Keeping the network within a reasonable limit, our strategy is to serve the customers through capacity building across multi-delivery channels. Our past performance gives an indication of our strength. We are better placed and poised to take our customers through 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 having strong liquidity.

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Prime Banks Mission

[MKIS OF PRIME BANK LTD.]

To build Prime Bank Limited into an efficient, market-driven, customer focused institution with good corporate governance structure. Continuous improvement of our business policies, procedure and efficiency through 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 be innovative 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 financial institution. 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 By adhering closely to national policies and objectives thereby contributing towards the progress of the nation. By upholding ethical values and best practices.

Products & Services of Prime Bank Ltd.


Retail Banking: Deposits. Loans. [12]

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[MKIS OF PRIME BANK LTD.]

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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Enjoy realtime internet banking with us. Just click to do bank transactions wherever you are, anytime you Balance enquiry View account statement View loans schedule View deposit schedule 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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Download the internet banking application form this link or collect the internet banking application form from Prime Bank branch.

Termall the account details. [MKIS OF PRIME BANK LTD.] Fill paper
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.

Phone Banking

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

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Balance Enquiry: Customer will get account balance information. Change TIN: Customer can change their TIN (Telephone Identification Number).

Term paper

Activate ATM/Master Card: Customer can activate ATM/Master Debit card by dialing the service contact number. Block ATM/Master Card: Customer can block ATM/ Master Debit card by dialing the service 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 outstanding bill amount. Credit Card Minimum Payable Amount: Credit Card user can know minimum payable amount of last bill amount. Credit Card Last Statement Generation Date: Credit Card user can know last statement generation date. Credit Card Last Date of Payment: Credit Card user can know last date of payment for recent bill amount.

[MKIS OF PRIME BANK LTD.]

Service Accessibility All account holders of Prime Bank or holding a Prime Bank Debit Card and Credit Card can get this service. To access this service customer must fill up the Phone Banking Application Form 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 the current trend of the market. They also try to forecast the future trend of the market. For this purpose Prime Bank Ltd. has a respective manager & three (3) sub-managers always work responsibly under his supervision. The team structure of R&D

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R&D Manager

Data collection manager

Data storage & analyzing manager

Data reporting manager

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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Recommendation:
Prime Bank Ltd. should make their employee aware about the MKIS to be used in the organization. The bank should try to make available the required technology to be best benefitted from 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 term MKIS 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 a strong MKIS team through which they can implement the system fully & efficiently. And their initiative is really praiseworthy.

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References
Corporate Head office, Prime Bank ltd. Dilkusa Commercial Area, Motijheel, Dhaka1000 www.primebank.com.bd www.wikipedia.com

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