A literature review on marketing information systems for managing customer value of hypermarket business in geographical marketplace

Abstract

Managing customer lifetime value in the geographical marketplace is one of the strategic needs and requirement for successfully of sustaining the business performance especially for large scale of business, includes hypermarket business. Specifically, capturing and managing the data of customer lifetime value of hypermarket are vital important for determine the most valuable customer’s to the hypermarket. Either in the global meltdown or even in stabilizes economy environments, managing lifetime value of customer can be done, regularly by utilizing marketing information system or MKIS. The adoption and or adaptation of MKIS is various part of departments is purposely for managing the customers data such as demographic data, purchasing record, sales and performance record, and so on. However, MKIS is not perfect enough for handling dynamics types of data regarding customers in the marketplace. To the best of knowledge, not surprisingly, MKIS have disadvantages of counting important variables of customer behaviour such as recency, frequency and monetary value of every single customer in the real marketplace. Most importantly, customers is a location problem and differs from one to another space, thus, MKIS is unable to handle such kind of problems. Thus, this paper is purposely for review’s MKIS methods and application issues, theoretically and practically, that would be affecting the future prospect of MKIS. Moreover, understanding MKIS issues on customer lifetime value is practically important to the Marketing Manager to educating them on understand the capabilities and constrains of MKIS methods. At the end, suggestion was made on how to improvise some aspects of MKIS for achieve better performance rather than before.