Marketing Information Systems and Competitive Advantage at Consolidated Bank of Kenya Limited

Abstract

Business today is a challenge because of the dynamics involved, marketers whose responsibility is to ensure that the business makes profits also have to be dynamic on how they organize their marketing strategies in a way that is relevant to today’s market. Whatever the kind of establishment, market and purchaser information is necessary if organization objectives are to be met and consumers needs fulfilled, having an efficient marketing information system is one of the channels through which an organization can acquire the information it needs from its customers thereby giving the organization competitive advantage. This study therefore sought to establish the impact of marketing information systems on competitive advantage at Consolidated Bank of Kenya Limited. The study used a case study. Primary data was collected using an interview guide and data collected from the heads of departments particularly from marketing, alternative business channels and business development, who are highly involved in formulation and implementation of strategy. Content analysis was used to analyze the data. The study established that the marketing environment in the banking industry is very competitive and therefore marketers must adapt to the ever-changing marketing environment. Further, improvements in the bank’s products, services and the brand image have enhanced competitive advantage of the bank. Finally, the study also revealed that Marketing Information Systems are of value to the organization. In conclusion the study established that the company has in place a marketing information system which the bank uses to acquire relevant information from customers, which is in turn used to develop products and services that meet the customer’s needs while still maintaining lower costs. The study recommends that management should ensure continued improvement in the marketing information system to enable the bank to maintain sustainable competitive advantage. There need for management to set aside resources and invest in marketing information systems to enable the bank to compete effectively in its marketing environment.