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

This report investigates the significant impact of technology on marketing research, focusing on ResMarket Pty. It explores how technological advancements, including social media, smartphones, and data analytics, are transforming market research practices. The study highlights the importance of technology in understanding customer needs, gaining competitive advantages, and enhancing brand awareness. It discusses the positive impacts of technology, such as improved data collection and analysis, while also addressing potential drawbacks like increased costs and data privacy concerns. The report emphasizes the need for ResMarket Pty to adopt new technologies to stay competitive and maintain customer relationships. It concludes with recommendations for effectively integrating technology into market research, including prioritizing data confidentiality and leveraging big data applications. References to relevant academic sources are included to support the findings and analysis.

Running head: MARKETING RESEARCH
The impact of technology on marketing research in today’s business
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2MARKETING RESEARCH
Executive Summary
According to the present repost it has been received that technology has great impact on the
market research in the present year as the technology is invaded in the every aspect of the
business. Resmarket Pty has decided to adopt new technology in their market research to
develop good relation with their clients and to gain competitive advantages. However,
different aspects of modern technology as for example, the social media marketing and
technological devices improve the market research of a business as it enables the business
organization to gather huge data. On the other hand, it has found that use of modern
technology in the market research will enable Resmarket Pty to understand the current demand
of their potential customers that is crucial for them to survive in the competitive market.

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Table of Contents
Introduction......................................................................................................................................4
Discussion........................................................................................................................................4
Importance of technology in the marketing research in context of ResMarket Pty.....................4
Role of technology in changing the market research...................................................................5
Impact of technology on the marketing research.........................................................................5
Conclusion.......................................................................................................................................7
Recommendations............................................................................................................................7
References........................................................................................................................................9

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Introduction
Emerging technology in the recent years allows the business to understand their different
clients with different requirements at the same time. However, the exciting technological
advances that are used in the marketing research involve in the integration various data sources
(Zhang et al. 2017). Moreover, the incorporation of the technology in the marketing research
includes wearable devices, digital data, and the social media that are beneficial for the business
organization to connect with their stakeholders easily. This study deals with the impact of
technology on the marketing research in the context of ResMarket Pty that is situated in Sydney.
Discussion
Importance of technology in the marketing research in context of ResMarket Pty
Conducting the survey technology in the market research is a crucial aspect of the use of
technology in the research firm. In order to gain the competitive edge, the organization needs to
understand their clients and customers in a better way, which can be possible by the adoption of
new technology (Silva, Styles and Lages 2017). However, in the context of ResMarket Pty that is
a well-known market research firm situated in Sydney wants to adopt the emerging technology in
order to connect their clients and the competitive advantages. Technology is present in every
aspect of life and market research is not different from such aspects (Mikalef and Pateli 2017).
ResMarket Pty can learn more about the choice and current needs of their customers and
can gain their belief through making the quick connection with them. This approach can be done
through the use of smart phone, social media marketing, tablet and other technological devices.

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Role of technology in changing the market research
Technology makes the market research faster, cheaper and easier (Qureshi, Aziz and
Mian 2017). ResMarket Pty can operate their business operation globally by using the rapid
technology. However, this organization is situated in Sydney and it is difficult for such
organization to make the connection with their clients globally. Hence, by using the technology
such organization is able to communicate with their clients those are present in different
geographical regions. Big data such as behavioral data and attitudinal data are collected during
the market research through using wireless devices. Visualization and the data mining process
are another crucial aspect of technology in the marketing research as it will enable ResMarket
Pty to understand the lifecycle of their clients.
Use of social media marketing in the market research allows the business organization to
enhance the sales revenue generation in comparison to the traditional marketing (Frank 2017).
Application of agile software will allow ResMarket Pty to carry out Agile market research. This
kind of market research is beneficial to identify the incidents that are occurring rapidly within the
global market. Quick pivots are enabled by the agile research that is technology-assisted. In order
to develop the strategic communication with the clients’ adoption of new technology in the
market research is required for ResMarket that can be done through online communication.
Impact of technology on the marketing research
Adoption of the new technology in the market research will leave both positive and
negative impact on ResMarket Pty. Technology enables the organization to collect and organize
the data of marketing through using different channels (Rodriguez, Peterson and Ajjan 2015).
Application of rapid technology allows the organization to get more data, more formats of
marketing and different online places to make interaction with their clients. As for example,

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Target Australia Pty uses the CRM system that enables them to detect their potential and clients
and the target within the global market. On the other hand, Amazon incorporates the online
marketing process that enhances their market research and sales revenue generation. Social
media marketing includes YouTube, Facebook, Twitter that give a broader area to ResMarket
Pty to identify the demand of their clients. However, sometimes the use of advanced technology
may be costly that often increases the operation cost of the business (Hajli 2014).
The privacy of the consumers and the data of organization often disseminates through the
rapid use of the internet that affects the business of an organization (Bloom, Schankerman and
Van Reenen 2013). Hence, it is important for the ResMarket Pty to use the technology properly
and keep the information of their clients confidential. Application of social media in the market
research will help ResMarket Pty to enhance their brand awareness. Incorporation of the mood-
sensing retail device is vital for the retailers to maximize their market share and to get more
knowledge about their customers that enables them as well as ResMarket Pty to achieve the
competitive advantages in the global market. Application of mobile communication giant will be
beneficial for ResMarket Pty to enhance their data analysis process that is obtained from the
market research and it retains their customers by improving the long-term customer loyalty.
However, proper data analysis with the help of advanced technology enables this organization to
get a good position in the market and to forecast their desired position.
ResMarket Pty will be able to translate the data which is acquired from the market
research effectively through the use of analytical CPO that is responsible to cover the data-driven
approach. On the other hand, the large amount of data occurs through the online and offline
marketing researcher hence, adoption of advanced technology enables the research firms to
formulate their strategy with accuracy (Rodriguez, Peterson and Ajjan 2015). Rapid use of

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information technology will be effective ResMarket Pty to make the creative design in their
business that leads them to compete in the market by recruiting the skilled employees in the IT
department.
Conclusion
This entire study highlights on the impact of technology on ResMarket Pty in their
marketing research. However, use modern technology will be beneficial for such organization to
enhance the relationship with their customers as well as it makes their data collection method
easier. On the other hand, the high cost of the technology is a great concern for this organization
despite this application of new technology in the market research will be an innovative approach
for such organization. As for example, use of smartphone, online marketing is effective
approaches to the technology that develops the market research process of such organization by
achieving competitive advantages.
Recommendations
 ResMarket Pty needs to keep confidentiality of their business and clients while accessing
the technology in the market research as it will enable them to resist the breach of data.
 Use of big data application through using Sisense software will be beneficial for such
organization to improve their market research through make it easier.
 Upgrade the communication technology through video collaboration application will be
effective for such organization to get feedback from their customers by maximizing the
communication process.
 Recruiting the freelancer tech expert ResMarket Pty can minimize the high cost of
technology that they have to provide the full time tech expert in their market research.

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References
Bloom, N., Schankerman, M. and Van Reenen, J., 2013. Identifying technology spillovers and
product market rivalry. Econometrica, 81(4), pp.1347-1393.
Frank, A.G., Cortimiglia, M.N., Ribeiro, J.L.D. and de Oliveira, L.S., 2016. The effect of
innovation activities on innovation outputs in the Brazilian industry: Market-orientation vs.
technology-acquisition strategies. Research Policy, 45(3), pp.577-592.
Hajli, M.N., 2014. A study of the impact of social media on consumers. International Journal of
Market Research, 56(3), pp.387-404.
Mikalef, P. and Pateli, A., 2017. Information technology-enabled dynamic capabilities and their
indirect effect on competitive performance: Findings from PLS-SEM and fsQCA. Journal of
Business Research, 70, pp.1-16.
Qureshi, M.S., Aziz, N. and Mian, S.A., 2017. How marketing capabilities shape entrepreneurial
firm’s performance? Evidence from new technology based firms in turkey. Journal of Global
Entrepreneurship Research, 7(1), p.15.
Rodriguez, M., Peterson, R.M. and Ajjan, H., 2015. CRM/social media technology: impact on
customer orientation process and organizational sales performance. In Ideas in Marketing:
Finding the New and Polishing the Old. Springer, Cham.
Silva, G.M., Styles, C. and Lages, L.F., 2017. Breakthrough innovation in international business:
The impact of tech-innovation and market-innovation on performance. International Business
Review, 26(2), pp.391-404.

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Zhang, M., Guo, L., Hu, M. and Liu, W., 2017. Influence of customer engagement with company
social networks on stickiness: Mediating effect of customer value creation. International Journal
of Information Management, 37(3), pp.229-240.