The Impact of Technology on Marketing Research at ResMarket Pty

This report examines the significant impact of technology on marketing research, focusing on the case of ResMarket Pty, a Sydney-based marketing research firm. It explores how various technologies, including customer relationship management (CRM), virtual reality research tools, social media, data analytics, marketing automation, and search engine marketing, are reshaping the industry. The report highlights the advantages of adopting these technologies, such as cost reduction, enhanced service quality, time efficiency, and improved client satisfaction. The analysis underscores the importance of market research for understanding customer behavior and market trends. The report concludes that embracing technological advancements is crucial for businesses like ResMarket Pty to maintain a competitive edge and effectively meet client needs, ensuring business growth and success. The report includes a detailed discussion of each technology's application and benefits within the context of modern marketing research practices, supported by references to relevant academic sources.

RUNNING HEAD: Marketing Research
Marketing Research
The Impact of technology on marketing research in today’s business

Marketing Research 1
Executive summary
Technology changes at a very fast speed which creates an impact on the performance of the
business. This report has covered the analysis of the concept of technology and impact of
technology on the marketing research activities of ResMarket Pty undertaken on the behalf of
the client. Different technologies are used by companies for marketing research and gaining
knowledge of the trend of the market and behavior of the customers or potential customers
towards the business. In this report, different technologies have been discussed which can be
used by ResMarket Pty for executing the marketing research activities.

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Table of Contents
Introduction................................................................................................................................3
Impact of technology on marketing research in the current business environment...................4
Advantages of adopting new technologies to ResMarket Pty....................................................5
Conclusion..................................................................................................................................7
References..................................................................................................................................8

Marketing Research 3
Introduction
Marketing is an important aspect for every business and for analyzing the trends in the
market; market researches are conducted by the companies or third parties. ResMarket Pty is
a marketing research firm which is based in Sydney. It is formulating plans for adopting new
technologies for encouraging the quality of marketing research carried out by ResMarket Pty
for its clients. ResMarket Pty is in dilemma regarding the adoption of new technologies as it
may increase the cost of the company or enhance the competitiveness of the company.
Discussion in this report will be made regarding the role played by technology in enhancing
the performance of ResMarket Pty.

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Impact of technology on marketing research in the current business
environment
Every business must undertake marketing research for the purpose of analyzing the target
markets and segmenting the customers. Marketing research is carried out by the companies
for analyzing their effectiveness in offering the products and services offered. Technology
has changed the manner in which operations of the business environment takes place.
Business is using different methods or technologies for enhancing the performance of the
business. Business is using marketing research for segregating the customer base and
targeting the customers. ResMarket Pty is using different technologies for serving the needs
and requirements of its clients and plans have been formulated for using new technologies for
conducting the marketing research activities (Fariborzi & Zahedifard, 2012). Marketing
research activities not only ensures that the analysis is done on the market conditions of the
business environment but also helps in identification of the potential customers. Use of
innovated technologies helps in enhancing the effectiveness of the marketing research
activities. There are different innovated technologies available which can be used by
marketing research companies for providing effective and high-quality services for enhancing
satisfaction level of the clients (PR Newswire, 2014). These technologies are mentioned
below:
 Customer relationship management: this technology is used by the businesses for the
management and analysis of the interactions with the customers. Different channels
are used for compiling information related to the customers. ResMarket Pty is
planning to use new technologies for reducing the cost and focusing on the quality of
services offered (Shaqiri, 2015).

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 Virtual Reality research tool: this tool has changed the manner in which research is
conducted by the marketers. It is a cost effective approach or technology which has
enhanced the capabilities of the marketer to generate deeper knowledge about the
audience. ResMarket Pty can plan to use this technology as this technology is cost
effective as well as enhances the knowledge gained by the company regarding the
customers.
 Social media: Social media platforms are used for the purpose of gaining real-time
insights, broadening the scope of the market research, discovering the undiscovered
trends of the market and enhancing the level of cost efficiency of the market research
(Salai & Žnideršić, 2011).
 Data analytics: data analytics helps in examining the set of data for drawing a
conclusion regarding the information contained in them (Zamula & Prumak, 2016).
 Marketing automation: this technology has been designed with a motive to provide an
opportunity for extracting the values of customer engagement.
 Search engine marketing: it is a marketing research technology which is a form of
internet marketing. This technology helps in promoting the websites of the company
by contributing towards the number of visitors visiting the website. ResMarket Pty
can use this technology for gaining information related to the traffic available on the
website of the client company (Attih & Adams, 2014).
Advantages of adopting new technologies to ResMarket Pty
Innovations are taking place with a motive to enhance the quality of the services offered and
improving the technologies used by the business. ResMarket Pty is planning for the adoption
of different technologies which will contribute towards the success and growth of the
business. Using advanced technologies will help in eliminating the additional cost involved

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and increasing the profits of the company (Kursan & Mihić, 2010). Better opportunities will
be available to ResMarket Pty for providing enhanced quality services to the clients. This will
help in developing a strong relationship with the clients and resulting in growth and success
of the business. Application of innovated technologies will help in conducting the marketing
research in a time efficient manner (Anon, 2010). Innovated technologies have the potential
to analyze the problems in a better manner. This will help in determining the aspects which
are creating a negative impact on the performance of the business of the client. These
technologies will help in enhancing the satisfaction of the clients by meeting the requirements
of the clients. ResMarket Pty can use these technologies for developing a reputation and
attracting customers. Market research is done with a motive to gain insight of the
effectiveness of the business in satisfying the needs of the customers (Bedell, 2011). All these
technologies will ensure that ResMarket Pty is complying with the requirements of the clients
as well as enhanced the reliability of the results generated from the use of innovated
technologies (Chang, 2011).

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Conclusion
At the end of this report, it can be concluded that it is crucial for a business to analyze the
market conditions for ensuring the level of effectiveness in meeting the expectations of the
customers. ResMarket Pty is offering marketing research services to its clients and is using
innovated technologies for providing better services to the customers. There are various
advantages associated with the use of the innovated technologies. These advantages
contribute towards the growth of the business. These advantages are discussed in this report.

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References
Anon, 2010, “Shop marketing research technology is like cloning your best customers.
(AUTOMOTIVE PRODUCTS GUIDE)”, Motor Age, 129(3), p.77.
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.
Bedell, D., 2011, “Social change. (Technology/ Business Intelligence)(use of social
networking and mobile technologies)”, Global Finance, 25(3), pp.46–47.
Chang, J., 2011, “Conceptualizing the value of web content in marketing research.
(Report)”, Marketing Intelligence & Planning, 29(7), pp.687–696.
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.
Kursan, I. & Mihić, M., 2010, “Business Intelligence: The Role of the Internet in Marketing
Research and Business Decision-Making”, Management, Vol. 15, 1, pp. 69-86.
PR Newswire, 2014, “New Technologies Transforming Consumer Marketing Research
Playbook”, PR Newswire, p. PR Newswire, Jul 11, 2014.
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.
Zamula, I.V. & Prumak, T.S., 2016, “Organization of Financial Results Analysis within
Marketing Research of Competitive Advantages”, Vìsnik Žitomirsʹkogo Deržavnogo
Tehnologìčnogo Unìversitetu. Ekonomìčnì Nauki, 2(76), pp.12–19.