Nowadays, the importance of achieving sustainable organization with competitive advantage in complex environments has many researchers’ interest. So, in this study, we evaluate different views of MKM and its role to reach SCA within banking industry. This research is relatively the scarce empirical study and adds to its originality. The findings offer valuable insights on the generalizability of MKM in a research setting. In fact, the purpose of this study is to empirically test the effect of the marketing knowledge management (MKM) on sustainable competitive advantage (SCA) within banking industry of Iran. A valid research instrument was utilized to conduct a survey of 150 top- and middle-level managers from Mellat bank of Iran (MBI). With a response rate of 81.3 percent, 122 questionnaires were returned; the number of valid and usable questionnaires was 101. Using exploratory and confirmatory factor analyses, MKM were classified into organizational strategies, culture and performance of senior manager, information technology (IT), research and development (R & D), internal customer (personnel), and external customer (client). Moreover, MBI’ SCA was classified into three dimensions: market, customer, finance. Structural equation modelling was utilized to test the stated hypotheses and model. Statistical support was found for the hypothesized relationships. Moreover it has been shown that MKM maintained the greatest effect on the market centered SCA, while it had the least influence on the customer centered.