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What version of the application are you installing? If you right click the mdm_server_setup.exe and select properties, you can select the version tab and then under "Other Version Information" highlight the "Product Version" item. The full product version will be displayed in the Value pane.
The mdm_server_setup.exe should be part of a package that includes an installation guide, mdm_ntier_install.pdf. Do you have this file? The installation guide details the hardware and software requirements necessary to install the application server components.
At a very basic level, the server components require a Windows based machine including Internet Information Services (IIS). The server will also require access to a database instance for the persistence layer. This database instance can be either SQL Server or Oracle, and can be local or on a remote machine to which the installation machine has access. Lastly, the server components require a windows session in order to run. I typically will set up a local user account on the installation machine and configure the server components to run under this account.
Hopefully you find this information useful,