Market Research and Technology's Impact

This assignment examines the crucial role of market research in businesses and its evolution with technological advancements. It delves into the use of tools like social media, online platforms, and focus groups to gather consumer insights and analyze market trends. The text highlights both the advantages and challenges of technology in market research, emphasizing its potential for deeper understanding and improved business outcomes.

MARKETING RESEARCH

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................1
MAIN BODY...................................................................................................................................1
Impact of digital technology on marketing research...................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

EXECUTIVE SUMMARY
Marketing research consist important role to make systematic results. In this
consideration, it is important to focus on the digital technological elements that assists to look
towards the business development (Lamberton and Stephen, 2016). Present report based on the
MRC (Pty) Ltd which work as the marketing consultancy to consider new technologies in the
business. Furthermore, help to focus on the relevant results that assists to attain high growth in
every enterprise to looked upon the new technologies.
MAIN BODY
Impact of digital technology on marketing research
In respect to focus on the effective functioning and development, it is important to look
upon the digital technology that increasing effectiveness in the business environment. In this
aspect, social media essential element that assists to develop creativeness at workplace with
consider marketing research. In this way, transforming activities of the social media help to
attain successful operations at workplace that meet with the great reputation management and
brand awareness as well. Furthermore, market research consider advantages with advance
capability which relate with the social media. Learning to master social media help to focus on
the research which increasing knowledge that obtained in the target market. Furthermore, it also
helps to implement data collection improvements with new software to collect the data
(Armstrong, Kotler and Brennan, 2015). With the help of the traditional methods, such as
research with survey on paper, interviews, focus group, etc. technology could be implemented
which received with sensing retail device.
In addition to this, data analysis stream on the collection, analysis and consider
effectiveness that is important to look towards the easier and more sophisticated work
performance. With the help of the mobile communication, it can be stated that advance analytical
power customer retention improve long tern loyalty program in the business to attain desired
results and outcomes as well. Increasing importance also placed with clearly define advance data
that develop options to put good position with determine best results as well (Agnihotri, Dingus
and Krush, 2016). With the help of new research roles, it can be determine that advance
technology assists to consider new skills which assists to determine new roles that are particular
develop in areas. Therefore, roles are being created that ensure data which obtained from the
social media and mobile device. Data driven approach helps to take business decisions that make
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proper judgement to follow roles and advance analytics activities. In the simple term, technology
assists to look on the market research with advance activities.
There are variety of market research professional, consultant, executives which
encountered in the systematic manner to respond towards the changing market research
activities. It impacts positively when exciting, faster, cheaper, easier, etc. to denotes effect to the
technology in market (Leung, Bai and Stahura, 2015). There are some opposite side of spectrum
with reliability and quality concern. In respect to look on the big data and market research, it has
been seen that turning point will cover to ascertain and produce more meaningful insights.
Hence, behavioural data, attitudinal data, advance analytical tools implemented that assists to
make more strategies which help to enable integration of data collection and attendant with
retention and collection of effectiveness. Along with this, technology also allows conduct the
market research companies with create self services platform. Hence, programs allow conduct
the micro survey that enabled to become agile. In this approach, inspiration from the agile
software developed which creates several values with testing and data over opinion (Hajli, 2014).
It could be respond towards the change in the plan which develop true power for business.
Therefore, business need to implement relevant and actionable data which consequently assists
to conduct test, measure and learn the approach.
Consumers and respondents are constantly embracing new technologies to conduct the
proper market research. These advancing activities help to fend off present issue due to market
profits and revenue declined continuously. There is new approach implemented that begin to
move with frictionless market research. Approach also help to engage respondent and deliver
insight information as well (Tuten and Solomon, 2017). There is huge opportunity in front of the
to make forward thinking in the different enterprise such as 7Eleven, FMCG enterprises, etc.
Technology consider significant impact which need to considered thinking for beginning to see
that new activities design and implemented to ascertain systematic work performance.
Communication technology also assists to create major advantages which lead as the bigger
challenges in the systematic work performance. Apart from this, technology consider significant
impact on the market research in positive and potential context. Therefore, it will assist to look
towards the wide range of secondary research online. In order to conduct qualitative research,
sentiment analysis and consumer perception implemented with social media monitoring.
Therefore, focus group could be implemented with online activities so that technology allowing
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interact with people across the wide range of secondary research (Lamberton and Stephen,
2016). In addition to this, it will look upon the geographical boundaries which conduct in-depth
interviews. On the other side, online research can also give negative interpretation which is
required to focus on the innovative characteristics to understand with reliable and valid results.
In addition to this, technology considered double edge sword slicing in the market
research industry. Therefore, data could be gather through focuses on the more relevant results
and business performance. Demand of customers continuously change so that it is important to
listen them properly to find proper conclusion. Turn off technology help to focus on the industry
and business development (Armstrong, Kotler and Brennan, 2015). Technology help to change
and forcing suppliers on the insight where data are available to considered effective tool. It will
help to gather opinion of different people towards the research design and attain more significant
results. Hence, skills also putting towards the insight context.
CONCLUSION
From the above report, it can be concluded that market research consider important
aspect in every business. Therefore, it includes implementation of different tools such as social
media, technology, etc. These consider important part to attain more desired results and
outcomes in the business unit.
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REFERENCES
Books and Journals
Agnihotri, R., Dingus, R. and Krush, M.T., 2016. Social media: Influencing customer
satisfaction in B2B sales. Industrial Marketing Management, 53, pp.172-180.
Armstrong, G., Kotler, P. and Brennan, R., 2015.Marketing: an introduction. Pearson Education.
Hajli, M.N., 2014. A study of the impact of social media on consumers. International Journal of
Market Research, 56(3), pp.387-404.
Lamberton, C. and Stephen, A.T., 2016. A thematic exploration of digital, social media, and
mobile marketing: Research evolution from 2000 to 2015 and an agenda for future
inquiry. Journal of Marketing, 80(6), pp.146-172.
Leung, X.Y., Bai, B. and Stahura, K.A., 2015. The marketing effectiveness of social media in the
hotel industry: A comparison of Facebook and Twitter. Journal of Hospitality &
Tourism Research, 39(2), pp.147-169.
Tuten, T.L. and Solomon, M.R., 2017. Social media marketing. Sage.
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