Market Research and Technology: A Report for ResMarket, Sydney

This report provides an analysis of the impact of technology on market research, focusing on the company ResMarket. It begins by defining market research and then explores various technological tools used in the process, such as mobile computing, computer-assisted technology, and social media. The report highlights the benefits of these tools, including reduced time and effort, increased reach, and improved accuracy. The report concludes that ResMarket should integrate these technologies to enhance its market research effectiveness. It also references several academic sources to support its findings. The report emphasizes the importance of technology in modern market research and provides a comprehensive overview of its applications and advantages.

Running head: TECHNOLOGY
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Impact Of Technology On Market Research

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Executive summary:
ResMarket is the market research company that belongs to Sydney. It is the company that
research the market for various purposes. This report aims at understanding the technological
impact on the market research system. The report initiates with the discussion of market
research. It also focuses on identifying the tools that can be used by the company in order to
improve its process of market research. The later part of the report explains the benefits that the
company will enjoy if it integrates the technology with its system.

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Table of Contents
Introduction:...............................................................................................................................................1
What is market research?............................................................................................................................1
Technological tools used in market research:.............................................................................................1
Benefits of these tools to the organization:................................................................................................3
Conclusion:..................................................................................................................................................3
References:..................................................................................................................................................4

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Introduction:
With the advancement in the technology, the revolutionary change has been observed in the way
the customers and the companies are interacting with each other. The pace of innovation is
increasing across the world in terms of technology (Orlikowski, 2008). It has been analysed that
technological tools are used by the companies in order to bring effectiveness to their processes.
All the department of the company such as HRM, customer support, marketing etc. use the
technological tools in their processes so as to enhance the quality of the work. Marketing
research is one of the functions in the organization that is very important for the growth. Thanks
to the technological advancement that supported this function to be more efficient.
What is market research?
Market research is the function of the organization that is based on conducting the research of the
market and the customers to analyse the situation (Orlikowski, 2007). In order to analyse the
situations, the researchers have to use some of the techniques and strategies such as interviews,
questionnaires, surveys etc. to collect the data of the customers. If these techniques are
associated with the latest technology then it becomes easier for the researchers to conduct the
research.
Technological tools used in market research:
There are various tools that can be used in marketing research conduction process. This is
because these tools enhance the speed and efficiency of processes.
Mobile computing or technology It is one of the technologies that has served the area of
market research and made it very efficient. Mobile
technology helps the researcher to take the real time
data. This helps to take accurate results of the situation
of the market (Petruzzellis, 2010). The geo location is
the feature of mobile technology that allows the
researchers to track the location from where the data is
coming. This also helps them to categorize the
location wise requirements of the customers and the

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situation of the market.
Computer assisted technology: It has been analysed that the CAPI technology that is
the computer assisted personal interviewing
technology is used by the market researchers since
1990’s. But, the limitation of the first generation
laptops has restricted its use (Mohr, Sengupta and
Slater, 2009). After the improvement in the computer
technology, the CAPI is used efficiently in the
marketing research process. In addition to it, some
more technologies such as Touch Tone data Entry and
Interactive Voice Response has also been introduced
to improve the market research processes.
Social media and internet: Internet and social media technology is the very
important part in dealing with the customers. This is
because the social media platforms allow the
researchers to post about their products and services
and get the reviews and recommendations of the
customers from there (Lovelock, 2007) .
Online forums: Online forums can be used to post the questionnaires
that can be filled by the customers. This helps the
researchers to avail the data and preferences of the
customers in order to customize the market strategies.
Benefits of these tools to the organization:
Technology and innovation is introduced in order to reduce the efforts of the employees working
in the different departments of the organizations. Different departments have different befits
from the technological tools. Some of them are discussed below in terms of marketing research
system:

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Reduces time and efforts: This is the first and the foremost benefit that can be enjoyed by the
organization or the employees. The market researchers now do not have to be on the fields the
entire tie but can contact the customers through online portals and thus reduces their efforts and
time of conducting research (Berisha-Namani, 2013).
Massive reach: with the earlier techniques, it was difficult for the researchers to reach the masses
and the company need to hire so many people to reach the customers at very place. Now, with
the advancement and integration of technology in the research conduction process, it has been
analysed that the researcher can easily target the masses at once (Krasnikov and Jayachandran,
2008). He does not need to make so much of efforts in targeting and interacting with the people.
Accuracy: efficiency of results and accuracy in the outcomes can also be seen if the
technological tools are used instead of manual techniques. This is because the data can be
analysed accurately from the analytical software or online tools.
Conclusion:
This report concludes that ResMarket should use some of the new and latest technological tools
in the market research process. It has been analysed that technology has its great impact on the
marketing research process and system (Horbach, Rammer and Rennings, 2012). Market
research is the department of the company that requires the technological tools in order to make
the process effective. There are various tools such as social media, mobile technology, computer
assisted personal interview technology etc. these technologies provides the advantages to the
company. The first advantage is accuracy in the process and the outcomes. In addition to it
several other advantages are also achieved by the company such as efficiency in data analysis,
reduction of efforts and time, etc.

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References:
Berisha-Namani, M., 2013. Information technology, internet, and marketing. International
Journal of Electronic Commerce Studies, 4(1), p.103.
Horbach, J., Rammer, C. and Rennings, K., 2012. Determinants of eco-innovations by type of
environmental impact—The role of regulatory push/pull, technology push and market
pull. Ecological economics, 78, pp.112-122.
Krasnikov, A. and Jayachandran, S., 2008. The relative impact of marketing, research-and-
development, and operations capabilities on firm performance. Journal of marketing, 72(4),
pp.1-11.
Lovelock, C., 2007. Services Marketing People, Technology, Strategy, 5/e. Pearson Education
India.
Mohr, J.J., Sengupta, S. and Slater, S.F., 2009. Marketing of high-technology products and
innovations. Pearson Prentice Hall.
Orlikowski, W. J., 2007. Sociomaterial practices: Exploring technology at work. Organization
studies, 28(9), 1435-1448.
Orlikowski, W.J., 2008. Using technology and constituting structures: A practice lens for
studying technology in organizations. In Resources, co-evolution and artifacts (pp. 255-305).
Springer London.
Petruzzellis, L., 2010. Mobile phone choice: technology versus marketing. The brand effect in
the Italian market. European Journal of marketing, 44(5), pp.610-634.