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The Impact of Technology on Marketing Research in Today's Business

9 Pages1579 Words48 Views
   

Australian Institute of Business

   

Market Research (BSBMKG408)

   

Added on  2020-03-07

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The report focuses on the impact of technology on marketing research in today’s business. The various concepts which have been discussed in this report are as Impact of technology on the 4P’s of Marketing, Customer Relationship Management systems (CRMs), and Social media marketing.

The Impact of Technology on Marketing Research in Today's Business

   

Australian Institute of Business

   

Market Research (BSBMKG408)

   Added on 2020-03-07

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Running head: MARKETING RESEARCHImpact of Technology on Marketing Research in Today’s BusinessName of the Student:Name of the University:Author note:
The Impact of Technology on Marketing Research in Today's Business_1
1MARKETING RESEARCHTable of ContentsIntroduction......................................................................................................................................2Impact of technology on 4P’s of Marketing....................................................................................2Product:........................................................................................................................................2Price:............................................................................................................................................3Place:............................................................................................................................................3Promotion:...................................................................................................................................4Role of technology...........................................................................................................................4Pros and cons of technology........................................................................................................4Latest technologies in marketing.....................................................................................................5Customer Relationship Management systems (CRMs)...............................................................5Social media marketing...............................................................................................................5Conclusion.......................................................................................................................................6References:......................................................................................................................................7
The Impact of Technology on Marketing Research in Today's Business_2
2MARKETING RESEARCHIntroduction Technology has gone through a huge revolution in the past century. It has changed theway of life of the world. In every aspect of life, people use technology. The business world is noexception. In all the spheres of business, technology plays a major role. One such part of thebusinesses is the marketing. This is a crucial function of the businesses that deal with productionand distribution of goods and services (Babin and Zikmund 2015). Marketing research refers tothe studies that are done to find out innovative and improved ways for marketing. Marketingresearch is conducted to identify and solve the problems of marketing (Brown and Churchill2014). The report focuses on the impact of technology on the marketing research in today’sbusiness. Impact of technology on 4P’s of MarketingIn the competitive market for products and services, smarter and efficient ways ofmarketing is very essential. The revenue and profit of the manufacturing and service industrydepends heavily on proper marketing. These days, all the companies are using latest technologiesfor marketing. Marketing research is done through Ad tracking, Brand awareness, Advertisingresearch, brand name testing, distribution channel testing, customer satisfaction research, STPresearch, demand and sales forecasting, viral marketing through social media etc. (Armstrong etal. 2015). The different sections of marketing are discussed below.
The Impact of Technology on Marketing Research in Today's Business_3

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