Market Research Report: Salesforce Technology for ResMarket Pty

This report provides an overview of market research, focusing on the evolution of research methods from traditional approaches to modern technologies like CRM and ERP systems. It emphasizes the growing importance of social media platforms and their role in redefining market research. The report specifically recommends the implementation of Salesforce for ResMarket Pty, a marketing research company, highlighting its feasibility and robust services such as lead generation, sales forecasting, and contact management. The paper argues that Salesforce would help ResMarket Pty become more competitive by enabling effective sales predictions, lead generation, and workflow automation. The conclusion reiterates the necessity for ResMarket Pty to invest in Salesforce to enhance its market research capabilities and remain competitive in the market.

Running head: MARKET RESEARCH
Market Research
[ResMarket Pty]
Name of the student:
Name of the university:
Author note:

1MARKET RESEARCH
Executive summary
The assignment briefly inform about various technologies and social media platforms, which
are growing in popularity among different business companies. ResMarket Pty is a marketing
research company, which has desire for being competitive in the market; however, they have
not so far adopted any big change in terms of advancement. This particular paper encourages
the company to choose Salesforce that offers robust services such as lead generation, sales
forecast etc. Moreover, the paper also explains in brief the importance of Salesforce to raise
its needs to ResMarket Pty Company.

2MARKET RESEARCH
Table of Contents
Introduction................................................................................................................................3
Market research in past..............................................................................................................3
Technology & market research..................................................................................................3
Technologies used in present day market research....................................................................4
Recommended technology for the selected company................................................................4
Conclusion..................................................................................................................................5
Reference....................................................................................................................................6

3MARKET RESEARCH
Introduction
The searching style in marketing has seen a drastic shift of it from traditional ways of
researching such as calling the customer and moving to the nearby retail shops to more
advanced and established way of searching such as using different social media platforms and
technologies like CRM & ERP. Social media platforms have redefined the way of research,
which has also broadened the scope for market consultants. They can easily go to any social
media platform such as Twitter, Facebook & YouTube and find the existing trend. Apart
from researching capability, the control on the marketing terms has also broadened with the
implementation of ERP and CRM (Babin and Zikmund 2015). Customer Relationship
Management (CRM) software has made things easier for companies in relation to tracking
the sales orders or more specifically coordinating with the sales agents. Enterprise Resource
Planning (ERP) is one of the most advanced levels of software technology, which different
use today. However, it is expensive, which makes this unbearable to smaller organisations
(De Vries, Gensler and Leeflang 2012). The main purpose of this assignment is to prove the
importance of different technologies for enhancing the marketing research capabilities of the
ResMarket Pty Company.
Market research in past
The traditional market research was challenging because it did not have ample of
resources where companies could explore various new dimensions to their purpose. They
rather had to restrict their capability in the few available resources such as searching contents
on company on daily newspapers, finding information in yellow pages and finding some
information on the internet. Additionally, companies have also struggled in managing the
data and coordinating to the sales agents. They need to rely more on various manual
information, which was time consuming as well (Laurent, Lilien and Pras 2012).
Technology & market research
Technology has redefined the ways in which the marketing researcher uses to
conduct research. The growing use of various new technologies such as YouTube, Twitter,
Facebook and LinkedIn have made things handful in relation to searching the market trend
and posting marketing related activities (Khang, Ki and Ye 2012). These social media
platforms have not just enabled the searching capability but it has also widened the area for

4MARKET RESEARCH
marketing with different strategies and tools. Different social media platforms have brought
marketing firms close to the needs of customers as these social media platforms offer an
indirect interaction with customers. The likes and views for a post on Facebook and YouTube
let marketing firms know the actual take of customers on the offered services (Sigala,
Christou and Gretzel 2012). Apart from social media platforms, different technologies such
as ERP and CRM have enhanced the controlling power of companies by making their
coordination smoother with the sales agents and enabling the tracking of sales. Such
technologies can automate various things, which was never possible before. However, ERP is
very expensive, which is not feasible to small size companies. CRM such as Salesforce can
prove to be productive, which is also affordable to smaller companies, as it is available in
cheaper version suitable only for smaller organisations (Liu, Liu and Xu 2013).
Technologies used in present day market research
Some technologies are both in huge demand and productive as well. Different
companies use such technologies for maintaining the database. Database management has
often remained a challenging task for significant number of organisations. However, things
have become simpler with the advent of CRM and ERP technologies. CRM is highly
effective in maintaining a high standard relationship with customers. CRM software helps to
track the sales records and makes the coordination with the sales agents smoother. It is very
handful for making sales forecast, which was never possible without CRM. This is also very
handful in establishing a healthy relationship with the customers as they would get more
accurate products. ERP is one of the most advanced technologies, which is expensive as well.
Many big organisations use this technology. The technology has solutions for many
requirements such as customer relationship management, sales, accounting, human resource
etc. Various other technologies offer customer relationship management such as Insightly,
Zoho CRM and HubSpot (Bloom et al. 2014).
Recommended technology for the selected company
The recommended technology for the ResMarket Pty Company would be to
implement the Salesforce in their researching practices. This is recommended not because it
is the best in market but rather it was recommended for its feasibility with the smaller
organisations as well. This is also available in cheaper version appropriate only for the
smaller organisations. Salesforce offers robust services, which is very handful for

5MARKET RESEARCH
organisations like ResMarket Pty. This is because of various reasons such as lead generation,
sales forecasting, workflow automation and contact management. For ResMarket Pty
Company to become competitive in the market, they need to have a contact management
where they could have information on their interacted clients. Nevertheless, the
recommended technology offers the same service. It is also necessary that the company have
efficient resource using which they could make effective sales forecast. Nevertheless,
Salesforce would enable ResMarket Pty to make effective predictions of sales based on the
previous records of sales. This would help in redesigning the product according to the
customer’s needs. Lead generation is another very effective and useful method, which
supplies potential leads to the company. ResMarket Pty would be able to generate potential
leads with the help of Salesforce, which would continue on giving potential clients to the
company. Moreover, the use of Salesforce would make many things automated, which is very
challenging in absence of Salesforce (Goodey 2015).
Conclusion
ResMarket Pty Company needs to make some investments and purchase the cheaper
version of Salesforce. It is necessary to realise the potentiality of the recommended
technology. They should focus on future business and implement the technology for being
competitive in the market. It is necessary for any company to be updated in every regards but
according to the feasibility. Nevertheless, Salesforce in cheaper version is very much feasible
to smaller organisations and every smaller company should realise the importance of it and
purchase it for being effective in the market.

6MARKET RESEARCH
Reference
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Bloom, N., Garicano, L., Sadun, R. and Van Reenen, J., 2014. The distinct effects of
information technology and communication technology on firm organization. Management
Science, 60(12), pp.2859-2885.
De Vries, L., Gensler, S. and Leeflang, P.S., 2012. Popularity of brand posts on brand fan
pages: An investigation of the effects of social media marketing. Journal of interactive
marketing, 26(2), pp.83-91.
Goodey, P., 2015. Salesforce CRM–The Definitive Admin Handbook. Packt Publishing Ltd.
Khang, H., Ki, E.J. and Ye, L., 2012. Social media research in advertising, communication,
marketing, and public relations, 1997–2010. Journalism & Mass Communication
Quarterly, 89(2), pp.279-298.
Laurent, G., Lilien, G.L. and Pras, B. eds., 2012. Research traditions in marketing (Vol. 5).
Springer Science & Business Media.
Liu, A.Z., Liu, H. and Xu, S.X., 2013. How do competitive environments moderate CRM
value?. Decision Support Systems, 56, pp.462-473.
Sigala, M., Christou, E. and Gretzel, U. eds., 2012. Social media in travel, tourism and
hospitality: Theory, practice and cases. Ashgate Publishing, Ltd..