The major purpose of the ISMS is to foster the development, dissemination, and implementation of knowledge, basic and applied research, and science and technologies that improve the understanding and practice of marketing.
Among ISMS's activities are planning and carrying out both the annual ISMS Marketing Science Conference and Doctoral Consortium; overseeing the premier publication outlet for quantitative marketing, Marketing Science; awarding a number of annual prizes recognizing the best work done in the field (ISMS Doctoral Dissertation Proposal Competition, Bass Dissertation Paper Award, John D. C. Little Best Paper Award, Lilien MSI/ISMS Practice Prize, Long Term Impact Award, Buck Weaver Award, and ISMS Fellows Award), maintaining policies for the Society, and overseeing its finances, membership, and outreach to both acadmia and industry.