Market Research of Resmarket Pty

Added on -2020-02-24

Remarket Pty is an Australian market research organization situated in Sydney. The organization has adopted new technology in order to improve market research efforts with its clients. The paper also covers some of the subjects covered in this assignment, such as the advantages of incorporating technology into Resmarket Pty's operations and the drawbacks of doing.

| CCDP60008| 7 pages| 1309 words| 56 views

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Running head: MARKET RESEARCHMarket researchName of the UniversityName of the studentAuthors note
1MARKET RESEARCHIntroduction:Resmarket Pty is a market research firm that is based in Sydney, Australia. Forenhancing market research activities with their clients, firm has undertaken adoption of newtechnologies. However, due to the cost of technologies, there are some scepticism relatedwith the technology adoption. Organization is a social research and boutique agency. Firmsupport business of clients in their decision making with their custom market research. Theobjective of market research firm is to approach their customer base by combing dataenrichment that is available through cloud devices and behavioural analysis or by conductingsurveys. Task of market research firm is to collect data, analyse and integrate it and thendistributing the information that has been generated (McGivern 2013). Their main objectiveis to find the purchase patters, consumption patter and preference pattern. In the marketingresearch, some of the most exciting technological advancements includes the integration ofsources of multiple data that would enable permitting holistic view of situation.Technological advancements has evolved market research as it has shifted researcher towardscombing of new data inputs in a creative way and developing models that would lead topractical applications and meaningful insights. Market researcher are able to provide morefluidity between qualitative, quantitative and business intelligence (Murphy 2015). This helpsin development of business insight that is more comprehensive and fast. Discussion:The process of market research is driven by change in technological advancements.Transformation are generated in the market research that has transformed the process frommethodology of data collection to the one that provides insight to decision maker sonmultiple level. Market research are significantly impacted by the technological advancementsand technology have drawn changes to research industry. Constant evolvement in technology
2MARKET RESEARCHis rapidly changing the way organizations and research firms are approaching. Research firmto understand their client in better way, enable development of relevant and better productsand target marketing development leverages learnings generated by advancement oftechnology. The way market research are solving business issues are being changed by theway passive and primary data are collected using technological platform (Papadopoulos andHeslop 2014). There has been tremendous increase in depth and breadth of data that arecollected using different methods using technology. The way research is conducted are beingdriven by phenomenal growth in technology. For gathering of information and analysing the data, collected market research isrelying on professional online research with the development if application and internetadvanced technology. Market research firms intends to provide their clients with decisionmaking strategies and solving existing issues that would also provide them opportunity toanalyse, collect, distribute and disseminate information objectively and systematically(Norman and Verganti 2014). Benefits of adopting technologies to operations of Resmarket Pty:The positive impact of technology on market research includes enabling researcher towidely access secondary data depicted by secondary research. Furthermore, they help inanalysing the customer perception through monitoring of social media and conductingqualitative research activities such as sentiment analysis. Researcher can easily conduct indepth interviews and focus on groups by enabling them to interact within people acrossboundaries. Items that are low on value chain are continuously eliminated by the adoption oftechnology in market research. Market research are made easier by the implementation oftechnology by shifting data collection capabilities online. A single insight standardization viatechnology helps market researcher to focus on analysis of data for making rightful decisions

Finally, technical improvements have a substantial impact on the market researcher's approach to data collection and analysis. Market research has been largely influenced by technology in a favorable way. Some of the positive impacts on market research include improvements in data collection techniques, the creation of new jobs for researchers, improved data analysis, and the use of big data to inform research.

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