Business Report: The Impact of Technology on Marketing Research

This report investigates the significant impact of technology on marketing research within the dynamic business environment. It examines how technological advancements, such as data analytics, customer relationship management (CRM), virtual reality tools, marketing automation, social media, and search engine marketing, are reshaping marketing research activities. The report highlights the advantages of these innovative technologies, including cost and time efficiencies, improved market analysis, and enhanced customer engagement. The report emphasizes the role of these technologies in providing competitive advantages to marketing research firms and contributing to business growth and success. ResMarket Pty is used as a case study to illustrate how these technologies can be implemented to enhance the quality of marketing research services and effectively meet the evolving needs of clients. The report provides a comprehensive overview of the technological changes affecting the industry and how these changes are instrumental in improving the effectiveness of marketing research activities.

RUNNING HEAD: Business Management
Business Management
The Impact of technology on marketing research in today’s business

The Impact of technology on marketing research in today’s business 1
Executive summary
This report has discussed the role of technology for the organisations operating in the
dynamic business environment. Technology is changing and impact of these changes can be
seen in the manner organisations are conducting their operations. The motive behind the
execution of this report is to analyse the technological changes which are taking place and
creating an impact on the marketing research activities of the companies. ResMarket Pty is
providing marketing research activities to its clients and constantly analysing the innovative
technologies which will help in enhancing the quality of the marketing research activities
offered by it. These innovative technologies ensure that ResMarket Pty is providing quality
services and effectively coping with the competition prevailing in the environment.

The Impact of technology on marketing research in today’s business 2
Table of Contents
Introduction................................................................................................................................3
Impact of technology on marketing research of the business environment...............................4
Innovative Technologies............................................................................................................5
Advantages of these innovative technologies............................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9

The Impact of technology on marketing research in today’s business 3
Introduction
Marketing research firms are providing quality services to their clients with a motive to
enhance the performance and chances of growth and success. The motive behind conducting
marketing research activities is to analyse the various opportunities available to the business
and potential threats which can harm the interest of the business. Technological
advancements are being used for enhancing the quality of the marketing research activities.
The focus on the marketing research firms is on using innovative technologies for conducting
the research activities. Technology has played a vital role in improving the effectiveness of
the research activities. ResMarket Pty is providing marketing research activities to its client
and analysing the technologies for enhancing the research activities. This report has
explained the role played by technology for marketing research firms, different innovative
technologies available and advantages associated with these innovative technologies.

The Impact of technology on marketing research in today’s business 4
Impact of technology on marketing research of the business
environment
There are various factors present in the dynamic business environment which affects the
technology used as well as the manner in which operations of a company are carried out. The
motive behind conducting marketing research activities is to develop an understanding of the
customers, competitors and effectiveness of the company in coping with the requirements.
Different types of marketing research activities are carried out by different companies with a
motive to monitor the customers and markets, providing support to the strategy development,
tracking the behaviour of the product usage, analysis of the business problems and
measurement of the attitude, awareness and reputation of the company (Hajli, 2013).
ResMarket Pty is operating with a motive to provide high-quality marketing research services
to its clients. For fulfilling this objective, it is using innovative technologies. Technological
changes have resulted in a change in the technologies used for the marketing research
activities. Innovative technologies have helped in analysing the market in a better manner and
ensure the chances of success of the business. ResMarket Pty is planning to adopt new and
innovative technologies for improving the services offered (Smith & Albaum, 2010).

The Impact of technology on marketing research in today’s business 5
Innovative Technologies
There are different innovative technologies which are being used by marketing research firms
for providing better services to their customers. These innovative technologies are analysed
for analysing the advantages of these technologies and effectiveness in meeting the
expectations of the clients. Different innovative technologies which ResMarket Pty can adopt
are discussed below:
 Data analytics: this technology is a process which helps in the examination of the set
of data so as to conclude the facts present in the information. This information will
help the clients of ResMarket Pty in making decisions in a better manner by analysing
the collected and examined information. This collected and examined information
will enhance the effectiveness of the operations of client’s business (Lo, 2016).
 Customer relationship management: this technology helps in focusing on the
customers in a better manner by using different strategies and approaches. This
technology is used for identification of the customers properly.
 Virtual reality research tool: this technology has provided new opportunities to the
business for analysing the market and gaining a better knowledge of the targeted
customers. Virtual reality marketing research tool can help in eliminating the
additional cost, ensures better control, collecting a large amount of information and
enhancing the efficiency (Fariborzi & Zahedifard, 2012).
 Marketing automation: this technology has been designed with a motive to measure
the market and workflow which contributes towards growth and profitability. It has
acted as a central marketing database, analytic engine and engaging marketing engine.

The Impact of technology on marketing research in today’s business 6
 Social media: this technology helps in collection of information or data in a faster and
better manner. Social media platforms are used for monitoring, analysis and
engagement of the customers (Shaqiri, 2015).
 Search engine marketing: this technology is a type of internet marketing which helps
in the promotion of the various websites by making the visibility of the business in the
search engine (Krasnikov & Jayachandran, 2008).

The Impact of technology on marketing research in today’s business 7
Advantages of these innovative technologies
There are various advantages of innovative technologies which will help ResMarket Pty in
improving its performance. These innovative technologies will provide cost and time
advantage to ResMarket Pty as these technologies provide faster results. These technologies
provide better opportunities to utilise the platforms available as well as enhance the
reputation of the company in the market (Salai & Žnideršić, 2011). Companies engage in
marketing research technologies with a motive to analyse and monitor the trends of the
market and these technologies are helpful in catering the needs of the business. These
technologies act as a medium which communicates with the customers in a better manner.
The analysis must be done of the issues or problems present in the business environment and
it can be done with the help of innovative technologies. ResMarket Pty can use these
technologies for ensuring that proper measures are adopted for coping with the needs of the
business (Attih & Adams, 2014).

The Impact of technology on marketing research in today’s business 8
Conclusion
Thus, it can be concluded from the above discussion that use of innovative technologies has
contributed towards the enhanced quality of the services offered by marketing research firms.
It is vital for the marketing research firms to use innovative technologies for gaining a
competitive advantage over the others in the industry. Technology is acting as a driving force
which guides the company towards growth. Different technologies have been discussed in
this report which can be adopted by ResMarket Pty for providing better services. It has also
discussed the advantages of using innovative technologies for marketing research firms to the
firm as well as to its clients.

The Impact of technology on marketing research in today’s business 9
References
Attih, O. B. & Adams, D. A., 2014, “The Role Of Information Technology In Marketing
Research In Nigeria”, Scientific Research Journal (SCIRJ), Volume 2, Issue 7.
Fariborzi, E. & Zahedifard, M., 2012, “E-mail Marketing: Advantages, Disadvantages and
Improving Techniques”, International Journal of e-Education, e-Business, e-Management
and e-Learning, Vol. 2, No. 3.
Hajli, M. N., 2013, “A study of the impact of social media on consumers”, International
Journal of Market Research, Vol. 56, Issue 3.
Krasnikov, A. & Jayachandran, S., 2008, “The Relative Impact of Marketing, Research-and-
Development, and Operations Capabilities on Firm Performance”, Journal of Marketing, Vol.
72, No. 4, pp. 1-11.
Lo, S. H., 2016, “The Impact Of Big Data And Technology On The Market Research
Industry: Where Are We At?”, Accent.
Salai, S. & Žnideršić, R. K., 2011, “Marketing Research in the Contemporary Consumer
Environment”, Management Information Systems, Vol. 6.
Shaqiri, A. B., 2015, “Impact of Information Technology and Internet in Businesses”,
Academic Journal of Business, Administration, Law and Social Sciences, Vol. 1, No 1.
Smith, S. M. & Albaum, G. S., 2010, “An Introduction to Marketing Research”, Qualtrics
Survey University.