Consider the following statements regarding the principles of Marketing Information System (MKIS) in banking: Statement 1: The Internal Records System provides the foundational data by documenting all customer-initiated transactions that are captured in real-time by the core banking software. It is considered a reliable source of information because it reflects actual historical behavior. Statement 2: The Marketing Intelligence System is essentially a specialized branch of MKIS focusing on systematic design and collection for specific problems on an ad-hoc basis, involving methods like focus groups and surveys. Statement 3: A longitudinal analysis of an MKIS requires maintaining a persistent and consistent data structure over many years so that the trends observed are not skewed by changes in definitions. Which of the following assessments is correct?

In the context of a bank's MKIS, consider the following situation: Statement 1: The bank uses its Marketing Intelligence System to observe that a new Fintech company has launched a zero-interest EMI product, which is gaining significant traction among the age group of 18 to 25. This is done through continuous review of financial news and competitor updates. Statement 2: To understand the specific impact, the bank initiates a Marketing Research project that involves surveying a sample of 1,000 customers from this age bracket. Statement 3: After gathering information, the bank uses its Marketing Decision Support System (MDSS) to run a simulation to see if launching a competing 'Buy Now Pay Later' (BNPL) product would be profitable. Which of the statements described above are correct?

Assertion: A longitudinal analysis of a Marketing Information System (MKIS) is superior to a cross-sectional analysis for developing a bank's long-term retail credit policy. Reasoning: Longitudinal analysis involves the repeated observation of the same variables over a long period of time, allowing the bank to detect changes and trends in borrower behavior across different phases of the business cycle, whereas cross-sectional analysis provides only a snapshot of the market at a single point in time.