ResMarket Pty Marketing Research: Technology Integration Report

This report examines the profound impact of technology on marketing research, using ResMarket Pty, a UK-based market research firm, as a case study. The analysis highlights how technology, particularly social media platforms, has revolutionized data collection through online surveys, quick feedback mechanisms, and enhanced data analysis capabilities. The report details how technology improves efficiency and cost-effectiveness in primary and secondary data gathering, while also acknowledging challenges like data reliability and the need for employee training. It concludes that technology integration is crucial for ResMarket Pty to enhance its operational efficiency, effectively promote its services, and achieve long-term success. The report also emphasizes the importance of data security and the strategic advantages gained through technological advancements in marketing research.

Marketing
Research
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EXECUTIVE SUMMARY
In the present scenario, the advancements in the field of technology have changed the
entire face of the market research industry. ResMarket Pty has decided to integrate technology
into its business practices. Further, the decision will help in improving the overall operational
efficiency of the selected business enterprise. For example, through technology, the company
will be able to collect secondary and primary data for research in the fast and cost effective way.
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TABLE OF CONTENTS
Executive summary.........................................................................................................................2
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
CONCLUSION................................................................................................................................6
References........................................................................................................................................7
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INTRODUCTION
Marketing can be defined as the process in which an organization uses various techniques
and tools to create awareness about its products and services among people in the market (Nunan
& Di Domenico 2013). Nowadays, marketing has emerged as one of the most important
functions of management as it directly contributes to the accomplishment of organizational goals
and objectives.
The present study is based on the ResMarket Pty. which is market research firm based in
UK. Further, the selected company has adopted advanced technology to enhance its business
practices which are linked with market research. This study explains the impact of technology on
marketing research in the modern era.
MAIN BODY
In the present era, the success of businesses operations and practices relies heavily on the
marketing activities. Nowadays, marketing is essential because it supports businesses such as
ResMarket Pty to create demand of its services and products among people in the market. In
addition to this, marketing also support in enhancing the volume of sales and profitability of a
business organization (Slater, Mohr & Sengupta 2014). However, it can be critically argued that
at present, marketing is no longer an easy task for companies and they are required to place wide
range of efforts and resources to conduct the same. Further, marketing managers are required to
make changes in overall marketing strategies and plan at regular intervals to attract new
customers and retain the old ones.
It can be stated that technology affects marketing research in positive the sense. For
example technological development such as social media has emerged as the biggest and most
potential platform in the world. Platforms such as Facebook, LinkedIn, Google + can be used for
conducting market research (Trainor et al. 2014). Questionnaires linked with market research can
be easily uploaded on the mentioned-above platforms and relevant information can be easily
collected through the same. In addition to this, social media platforms also provide opportunity
to collected quick feedback and response which is important in the field of market research.
Another impact of technology on market research is that the integration of technology has
enhanced the overall process of data collection. In the field of market research, the collection of
accurate and reliable data is mandatory for the success of the research. Earlier market research
companies were only available with methods such as interview, surveys, focus groups, etc. for
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the collection of appropriate data. However, the use of technology has helped companies such as
ResMarket Pty to conduct quick and cost efficient surveys by making use of different websites
and applications. Apart from this, the collection of data was also restricted over the phone the
and personal interviews (Poynter, Williams & York 2014). At present, technological tools such
emails, video calls, online surveys are available for companies such as ResMarket Pty.
The collection of both primary and secondary data has now become easy and convenient.
For example, to carry out and collected secondary information, the selected business enterprise
will not be required to visit a library or go through the physical newspaper (Price, Wrigley &
Straker 2015). Any secondary information about a particular market or topic can be easily found
over the internet. Here, relevant e-book, e-journals and other secondary sources can be taken into
consideration by ResMarket Pty for the purpose of collecting secondary data.
The benefits of using technology in market research are that it will support the selected
business enterprise in carrying out smooth flow of all its business practices and operations.
However, it can be critically argued that the company will be required to ensure that the data
collected through technology is reliable enough or not (Ross 2016). The rationale behind this is
that sometimes people use fake personal information and provides fake information in online
survey. It can be a major threat for a market research company such as ResMarket Pty as it can
affect the overall quality of research conducted.
Technology has also improved the way in which collected data is analyzed by businesses
such as ResMarket Pty. In the field of market research, data analysis is also one of the most
crucial stages as the results and findings of research is directly affected by the quality of data
analysis done. The use of technology in market research will provide the selected business
enterprise with a potential opportunity to analyze the information collected in effective and
sophisticated manner. It will improve the overall quality of research conducted and thus, will
directly contribute in long term success of the business enterprise (Ozkaya et al. 2015).
On the contrary of this, it can be critically argued that the use of technology in market
research will not be an easy task for the selected organization (Lin & Atkin 2014). The company
will be also required to conduct training sessions at regular intervals so that skill set and
knowledge base of employees can be enhanced. Another major benefit of using technology for a
market research company is that technology can play very important role in storage of data. The
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information and data collected by these companies is considered as very confidential and leakage
of the same can affect the overall image of the business enterprise.
Sometimes, market research involves collection of heavy data and it is not easy for
research companies to manually store the same. Here, technological tools such as Google drive
can play important role in ensuring the safety and security of data collected. The use of
technology will help the selected market research firm in enhancing its overall operational
efficiencies. In addition to this, technology will also assist ResMarket Pty in carrying out
effective marketing and promotion of all its services in the market.
CONCLUSION
From the above report, it can be concluded that marketing is a very important function of
a business and it contributes directly to the success of a business enterprise. It can be inferred
that the use of technology in its market research activities will help ResMarket Pty to collect data
and analyze the same in best possible manner. The entire process of market research will become
cost effective and convenient with the integration of technology. However, the selected company
will be required to conduct training sessions so that its employees can have adequate knowledge
about the use of technology.
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REFERENCES
Lin, CA & Atkin, D 2014, Communication technology and social change: Theory and
implications., Routledge, London.
Nunan, D & Di Domenico, M 2013, 'Market research & the ethics of big data', International
Journal of Market Research, pp. 505-520.
Ozkaya, HE, Droge, C, Hult, GTM, Calantone, R & Ozkaya, E 2015, 'Market orientation,
knowledge competence, and innovation', International Journal of Research in Marketing, pp.
309-318.
Poynter, R, Williams, N & York, S 2014, The handbook of mobile market research: tools and
techniques for market researchers, John Wiley & Sons, New Jersey.
Price, RA, Wrigley, C & Straker, K 2015, ' Not just what they want, but why they want it:
Traditional market research to deep customer insights', Qualitative Market Research: An
International Journal, pp. 230-248.
Ross, DF 2016, Introduction to e-supply chain management: engaging technology to build
market-winning business partnerships., CRC Press, Florida.
Slater, SF, Mohr, JJ & Sengupta, S 2014, 'Radical product innovation capability: Literature
review, synthesis, and illustrative research propositions', Journal of Product Innovation
Management, pp. 552-566.
Trainor, KJ, Andzulis, JM, Rapp, A & Agnihotri, R 2014, 'Social media technology usage and
customer relationship performance: A capabilities-based examination of social CRM', Journal of
Business Research, pp. 1201-1208.
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