Marketing Study: How Technology Changed Marketing Research Methods

This report examines the significant impact of modern technology on marketing research strategies. It explores various aspects, including data research, where technology facilitates the collection and analysis of consumer data, leveraging social media for insights and surveys, and enhancing product development through improved feedback mechanisms and demand assessment. The report discusses the evolution of data collection methods, the rise of new roles in marketing research, and the challenges associated with managing large datasets. It also covers the use of technology in gathering customer feedback and assessing product demand before launch. While acknowledging the advantages of technology, such as faster data collection and cost-effectiveness, the report also addresses potential drawbacks, such as data reliability issues. The conclusion emphasizes the importance of creating robust marketing research strategies to achieve success in a technology-driven environment, citing various references to support its findings.

Running head: MARKETING STUDY 0
Marketing Research

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Table of Contents
Introduction...........................................................................................................................................2
Marketing Research...............................................................................................................................3
Data Research........................................................................................................................................3
Social Media......................................................................................................................................3
Data Collection..................................................................................................................................3
Data Analysis.....................................................................................................................................4
New Roles..........................................................................................................................................4
Large Resources.................................................................................................................................4
Product Development...........................................................................................................................4
Feedback...........................................................................................................................................5
Demand.............................................................................................................................................5
Conclusion.............................................................................................................................................6
References.............................................................................................................................................7

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Introduction
Marketing research is the process of collecting the information from consumers and
businesses to ascertain the opportunities or creating the strategies for the organisation. The
advancement in technology in previous decade has changed the method of marketing research
of companies. There are numerous types of marketing channels available to reach the target
audience. The customers are viewing more advertisement according to their relevance, due to
the size of personal data they share.
Technology has increased the number of consumers as well as number of advertisements on
various platforms. The use of technology in marketing research has several benefits, but there
are numerous disadvantages as well. This report will discuss the effects that modern
technology has over the marketing research strategy of a company.

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Marketing Research
The marketing research process of a company includes various processes such as data
research, product development, and method of delivery. Modern technology has impacted all
the different aspects of marketing research (Hair and Lukas 2014).
Data Research
According to Washington (2013), the process of data research includes collection and
analysis of the consumer’s data for marketing research. It includes process such as
identification of sources of collection, the amount of data, a method for analysis, and
preparation of strategies.
Social Media
In the past decade, the use of social media has increased significantly. Peoples are sharing a
large part of their life on social media websites such as Facebook, YouTube, Twitter, and
Google+. These websites are transforming the marketing research process in new ways. The
social media provide a large amount of personal data of customers to the companies, assisting
them in analysing demand in the market. The social media websites assist in conducting
surveys and research, without spending large resource. The social media help organisations in
finding their target demographic and directly advertise to them.
Many experts consider the social media as faster, cheaper and simpler method of marketing
research. But many experts believe it to be a non-reliable and low-quality method. Social
media does provide the company a large amount of data but the reliability of such data is not
certain. Many of the online accounts are fake or generated by companies, to trick firms in
thinking that they are reliable sources (Venkatesh, Thong and Xu 2012).
Data Collection
The process of data collection has changed significantly with the advancement in technology.
The previous method of data collection includes paper reviews, one-on-one interviews, and
focus groups, but technology enables the organisations to target a specific audience. The time
required for receiving the feedback has also reduced significantly. With the help of the
internet, organisations can gain access to the data of millions of individuals in few minutes.

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Various method of data collection includes online surveys, mobile application and online
posts (Earnst, Hoyer and Rubsaamen 2010).
Data Analysis
The research conducted by Press (2016) concluded that, with the advancement of data
collection process, the requirement of improved data analysis procedure increased. The new
technology created the data analysis process easier and more refined. The improved data
evaluation process predicts the consumer requirement and desires more clearly. The new
systems can easily analyse the large data provided through various sources, such as Predictive
analytics, NoSQL database, and Stream analytics.
New Roles
With the updating in technology, the marketing research required new roles to manage the
process. The new technology procedures required a new set of skills and knowledge. With the
availability of customer’s data from various places, the managerial departments are required
to adopt several new strategies for marketing research. Various new posts such as analytical
CPO are in charge for preparation of data driven approach in an organisation (Babin and
Zikmund 2015).
Large Resources
The organisation receives a large amount of data from both online and off-line sources,
requiring the marketing researchers to analyse and prepare strategies for a large amount of
data with accuracy. The company’s strategy should avoid the irrelevant data from the large
data, and focus on the relevant parts. According to market expert Brown (2015), a company
should identify their trusted and essential sources of data collection, from the various
available options, such as Towerdata, Nielsen, and Axciom.
Product Development
The marketing research assists companies in developing a precise product according to
customer’s requirements. The research provides important data, such as requirement,
demand, and feedback, to the company which helps them in creating a better product. The
success of a product depends upon the quality of market research.
Morrell (2014) research concluded that new technology has changed many processes such as
testing, assessing and measuring of customer feedback on various new platforms. But several

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new tools are completely changing the game like uSamp has announced their new product
Instant.ly that help organisation and retailers to measure the consumer's interest in new
product ideas.
Feedback
Technology has changed the traditional method of collecting customer’s feedback. Now the
companies use social media or other online sources to get instant quarries or feedback of their
customers. Due to instant feedback, the company can change their products according to their
customer's requirements. New feedbacks tools include feedbackify, Client heartbeat and
getfeedback (Hair, Sarstedt, Ringle and Mena 2012).
Demand
Before the launch of a new product, the organisation is required to ascertain the demand of
their customers to provide a successful product. With the help of modern technology,
organisations show their product to a group of the audience before its launch, to monitor their
reaction and change their product based on their feedback (Varnali and Toker 2010).

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Conclusion
The above report concluded that modern technology has a significant impact on the
marketing research of an organisation. Companies have adopted new modern methods of data
collection and analysis to increase the quality of marketing research. New technology has
various advantages such as faster collection, large data, cheap and simple methods. But there
are several drawbacks such as reliability and quality issues. In order to achieve success,
companies are required to create solid strategies of marketing research.

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References
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Brown, M. S., 2015. When and Where To Buy Consumer Data (And 12 Companies Who Sell
It). Forbes. Retrieved from < https://www.forbes.com/sites/metabrown/2015/09/30/when-
and-where-to-buy-consumer-data-and-12-companies-who-sell-it/#590509c93285 >
Ernst, H., Hoyer, W.D. and Rübsaamen, C., 2010. Sales, marketing, and research-and-
development cooperation across new product development stages: implications for
success. Journal of Marketing, 74(5), pp.80-92.
Hair Jr, J.F. and Lukas, B., 2014. Marketing research (Vol. 2). McGraw-Hill Education
Australia.
Hair, J.F., Sarstedt, M., Ringle, C.M. and Mena, J.A., 2012. An assessment of the use of
partial least squares structural equation modeling in marketing research. Journal of the
academy of marketing science, 40(3), pp.414-433.
Morrell, L., 2014. Technology could speed up new product development. Marketing Tech.
Retrieved from < https://www.marketingtechnews.net/news/2014/dec/01/technology-set-
speed-new-product-development/ >
Press, G., 2016. Top 10 Hot Big Data Technologies. Forbes. Retrieved from <
https://www.forbes.com/sites/gilpress/2016/03/14/top-10-hot-big-data-technologies/
#3070937565d7 >
Varnali, K. and Toker, A., 2010. Mobile marketing research: The-state-of-the-
art. International journal of information management, 30(2), pp.144-151.
Venkatesh, V., Thong, J.Y. and Xu, X., 2012. Consumer acceptance and use of information
technology: extending the unified theory of acceptance and use of technology.
Washington, R., 2013. 5 Ways Technology Has Changed Market Research. Market Research
Blog. Retrieved from < http://blog.marketresearch.com/blog-home-page/bid/339928/5-ways-
technology-has-changed-market-research >

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