Impact of Technology in Marketing Research

The report analyzes the impact of modern technology on marketing research in the current business environment. It identifies the benefits of adopting new technology for MRC (Pty) Ltd, a marketing research consultancy based in Brisbane. The use of technology in marketing research has transformed how researchers conduct their businesses. As a result, MRC should adopt new technologies to improve their marketing research ability and also to present a more resourceful and accurate service to their potential customers.

IMPACT OF TECHNOLOGY IN MARKETING RESEARCH 1
IMPACT OF TECHNOLOGY IN MARKETING RESEARCH
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Executive Summary
The report aims to give an analysis of the impact of modern technology on marketing
research in the current business environment. It will also aim to identify what MRC (Pty) Ltd, a
marketing research consultancy based in Brisbane will stand to benefit from adopting new
technology. Based on the discussion, the report shows that the use of technology in marketing
research has transformed how researchers conduct their businesses. As a result, MRC should
adopt new technologies to improve their marketing research ability and also to present a more
resourceful and accurate service to their potential customers. Besides, technology provides a
range of opportunities to the company in the current competitive business environment.
Impact of Technology in Marketing Research
In the current business environment, marketing research is essential for the growth and
development of all organizations and businesses since it puts an individual in the mind of the
potential customers. Thanks to the technology, the theory of research have greatly transformed.
As a result, the businesses are now renouncing paperwork and moving to mobile applications,
USSD technology, and SMS information collections. The widespread implementation of the
internet has transformed all businesses with only a few exclusions. Undoubtedly, technological
developments have drastically changed the way market analysts carry out business.
MRC Company will largely benefit from technology in transforming market research.
Technology development will help the company to become more active and efficient. Based on
the market research, technology will create new opportunities and pitfalls for achieving
constructive business intelligence (Lee, 2017). Besides, the company will benefit from the
enhancements of data collection (Market Research, 2018). Due to technology, there is a
continuous stream of new software for data collection. Beyond the customary data collection
methods such as focus groups, interviews and paper surveys, technology makes it possible for
the market researchers to become much more aimed in what way they assess and how fast
response can be obtained. For example, MRC can benefit from the mood-sensing trade appliance
that is used to personalize the buying experience. According to Market Research (2018), the
mood-sensing gadget is an effective tool for any research company looking to enhance market
share and gather a lot of information about potential customers.

IMPACT OF TECHNOLOGY IN MARKETING RESEARCH 3
Market Research (2018) added that with the bigger streams of statistics to gather, the
ability to make data analysis is similarly crucial. The modern technology is making data analysis
easier and more complicated. With better data analytics, MRC can be able to assemble that into
reinforcing customer relationship management (CRM). Some companies use innovative analytics
to strengthen customer retention and enhance lasting reliability. Also, the company can benefit
from Google+, Twitter, and LinkedIn as they have developed the background in which research
campaign is conducted. Social media can, therefore, change marketing research is electrifying
ways, and it is also creating a business environment that generates an unfiltered response (Lee,
2017). Remarkable for reputation control and product recognition, marketing researchers can
benefit from the enhanced abilities intrinsic in social media.
Based on the research conducted by The Citizen (2017) Mobile technology has
transformed market research where data is collected instantaneously. Real-time data is
remarkable as it helps market researchers and organizations identify the information as it comes
in. Mobile applications will allow MRC for data collection and geolocation in real time. It is,
therefore, crucial to understanding where the information is originated from and geolocation can
help MRC realize this. As per The Citizen (2017), Geo locations will remain to be a fervent trend
in the current business environment and the world of market research as the company search for
specific data. As a result of technology, companies can upload questionnaires digitally (Hajli,
2015).
With surveys being uploaded on the internet to USSD technology and mobile
applications, the market researcher can be able to retrieve them at the time convenient to them.
Besides, Infoholic Research (2018) argue that cloud computing has made it possible for market
research organizations to utilize their surveys. Mobile technology enables the documentation of
insights and sentiments: With SMS and USSD technology, a company can be able to conduct a
perception questionnaire and get immediate feedback to perceive how suppliers feel about the
service or product (The Citizen, 2017). Technology can also benefit MRC in the sense that its
developments in market research involve the incorporation of various sources of data hence
allowing a holistic viewpoint of the individual or a certain situation.
In today’s business environment, insensible motivational demonstrative information can
be incorporated with data collected submissively (Infoholic Research, 2018). This includes

IMPACT OF TECHNOLOGY IN MARKETING RESEARCH 4
biometric quantification through wearable Smartphone or gadgets, and social media or simply
digital information. As a result, marketing research will keep on evolving as businesses shift
toward resourcefully integrating new data and using models that result in more consequential
opinions and realistic applications (Hamilton & Webster, 2012). Market research and
considerable data are at the decisive moment and will come together to help businesses create
more evocative insights (Mcquarrie, 2015). As a result, MRC will see more application of
complex analytics, attitudinal and behavioral data to enable trademarks to create more
premeditated decisions instantly. Using data sourcing, imaginative and analytical models can as
well help with the atypical states of the consumer lifecycle such as retention, blend,
cross-sell/up-sell and purchase (The Citizen, 2017).
The use of technology will allow MRC as a market research consultancy to design self-
service policies where customers can plan their concise micro-analysis. As earlier noted,
technology has enabled marketing research to become more responsive. Responsive marketing
research is a methodology that takes its insight from responsive software advancement which
values assessment and data over resolutions and judgments (Market Research, 2018). Today, the
real power for businesses is the capability to be responsive and also to adjust to what is promptly
happening in the business environment (Insights Association, 2018). Businesses, therefore,
require appropriate, achievable insights and data more rapidly than ever. Thus, technology
supporting responsive research is an assessment, measure, and study approach that enables
prompt pivots in businesses.
In conclusion, just adopting a single channel like e-mail for acquiring market insights
can rigorously constrain marketing research. Thus, companies should ensure that their research
campaigns platforms adjust to the most suitable touch-points for social media; mobility,
respondents and other innovative technology provide compliant platforms where to uncover the
appropriate engagement method. Based on the above discussion, MRC will undoubtedly benefit
from adopting the new technologies in research campaigns. As a result, the company will be able
to improve their market research ability and provide accurate and effective service to their
potential customers.
List of References

IMPACT OF TECHNOLOGY IN MARKETING RESEARCH 5
Hajli, N. (2015). Handbook of research on integrating social media into strategic marketing.
Hershey, PA: Business Science Reference.
Hamilton, L., & Webster, P. (2012). The international business environment. Oxford, Oxford
University Press.
Infoholic Research. (2018). 7 Benefits of Digital Market Research Techniques Over Traditional
Technologies. [Online] Available from: https://www.infoholicresearch.com/7-benefits-of-digital-
market-research-techniques-over-traditional-methodologies/. [Accessed 13 July 2016]
Insights Association. (2018). Emerging Technology: Impacts on Marketing Research. Available
from: https://www.insightsassociation.org/article/emerging-technology-impacts-marketing-
research. [Accessed 13 July 2011]
Lee, I. (2017). The internet of things in the modern business environment. (Place of Publication
not Identified)
Market Research. (2018). 5 Ways Technology has Changed Market Research. [Online] Available
from: https://blog.marketresearch.com/blog-home-page/bid/339928/5-ways-technology-has-
changed-market-research. [Accessed 8 October 2013]
Mcquarrie, E. F. (2015). The Market Research Toolbox: A Concise Guide for Beginners.
Thousand Oaks: SAGE Publications, Inc.
The Citizen. (2017). How Mobile Technology has Changed Market Research. [Online] Available
at: http://www.thecitizen.co.tz/magazine/success/How-mobile-technology-has-changed-market-
research/1843788-3903542-veyrbi/index.html. [Accessed 26 April 2017]