Analyzing Technology's Influence on Marketing Research Methods

This report analyzes the benefits of integrating technology into marketing research, focusing on how it enhances data collection, processing, and analysis for companies like ResMarket Pty. The report highlights the importance of technology in defining research problems, improving research design, and enabling online surveys for efficient data collection from a large audience. It emphasizes the role of data analysis software like SPSS and Stata in providing accurate results and managing large datasets, alongside the significance of transcription analysis. Furthermore, the report discusses the creation of new job opportunities in software and engineering. The conclusion stresses the long-term cost-effectiveness of technology in marketing research, the need for updated information, and the importance of hiring skilled experts to maximize technology's benefits, ultimately helping firms stay competitive in the evolving market landscape.

Running head: TECHNOLOGY IN MARKETING RESEARCH
Technology in Market Research
Name of the Student
Name of the University
Author Notes

1
TECHNOLOGY IN MARKETING RESEARCH
Table of Contents
Introduction......................................................................................................................................2
Advanced marketing research method with application of Technology.........................................2
Advanced level of Data Analysis....................................................................................................3
Opportunity for new job roles..........................................................................................................4
Conclusion and Recommendations:................................................................................................4
Reference.........................................................................................................................................6

2
TECHNOLOGY IN MARKETING RESEARCH
Introduction
The current report will discuss upon the advantages of using technology in marketing
research in the modern business environment. The result of this report will help the ResMarket
Pty Company which is a Sydney based marketing research firm, evaluate the importance of
implementing technology in their marketing research activities. Currently there are many internal
stakeholders within the company, who are complaining about the high cost that are involved in
the process of implementing Technology in marketing research work. Nevertheless it is
important for them to understand the significant facts that are associated with technology
involvement in marketing research. This can help the company to provide better marketing
research result by accurate data processing and analysis.
Advanced marketing research method with application of Technology
It is important for all business firms to conduct extensive marketing research that is an
essential part of implementing business plan by understanding the external market environment.
In this context, the marketing research firms need to rely upon the latest technology in order to
provide better and accurate research result. The defining of the research problem in marketing
research is a primary task that can help the investigators to focus on certain issues (Winer and
Neslin 2014). Implication of Technology has also helped in improving the Research Design that
is currently used in all marketing research.
Huang et al. (2016), have mentioned that Data Collection process is an important step
that has it been developed with the help of technology in marketing research. It is essential for
the market researchers to avail huge amount of data in order to provide more accurate research
result. Currently, the online surveys are believed to be one of the most effective and popular

3
TECHNOLOGY IN MARKETING RESEARCH
ways of Data Collection process in marketing research activities. Mittelstaedt et al. (2015), have
mentioned that the major advantages of online surveys are that it enables the market investigators
to collect data from huge group of audience. Time factor is also one of the major positive sides.
In Manual method of Data Collection, it is also one of the challenging tasks for surveyors to
properly arrange and store the data for future purposes.
Social media platform is one of the popular destinations for market researchers to collect
data from online survey. This allows opportunity for several participants to easily express their
opinion in a market research survey. High level of accuracy can also be easily obtained with the
help of online data collection process. There is also negligible risk of error involved in this
overall process as the entire method is automated (Henseler et al. 2016).
Advanced level of Data Analysis
Norman and Verganti (2014), have mentioned about the importance of data analysis
software that are currently used by major market researchers in order to provide maximum
accurate and precise result. Few of the major data analysis software that is used in this regard
include SPSS and Stata. This commercial data analysis software can be used in both quantitative
and qualitative form of data analysis. It can also neutralize the challenges that are involved in
marketing research data analysis activities. It is very common for marketing researchers to face
issues due to complexity of statistical analysis that are involved in analysing the market research
activities. There is also the challenge of managing huge bulk data that is an essential part of
marketing research. With the application of the data analysis software it is possible to reduce the
errors that are involved in manual data processing method. The result of the data analysis and
data collection can also be stored in digital platforms that can be used for future purposes.

4
TECHNOLOGY IN MARKETING RESEARCH
Neuhofer et al. (2014), have highlighted it up on the importance of transcription analysis,
which helps the researchers to properly identify the importance of data collected from interview
of several marketing managers. There is also the method of interpretation and coding that can
help to highlight upon the important points that are collected from marketing research. The
advanced level of Searching tool that is an essential part of data analysis software can help the
market researchers to search for particular information from huge databases, where all relevant
information are stored. In manual process there is also the risk of fake or false information that
are being applied in marketing research. Nevertheless, with the help of the latest software in data
analysis easily possible to eliminate all the fake information that can compromise upon the
overall research quality.
Opportunity for new job roles
As the latest marketing research process is totally dependent upon software and digital
technology, it is important for marketing research firms to hire software experts and engineers,
who can help in all essential steps of marketing research. This can be regarded as also one of the
positive impact of technology implication in marketing research as it can help to create new job
opportunities in the respective domain (Babin and Zikmund 2015).
Conclusion and Recommendations:
Concluding note it can be said that in spite of high level of expense that are involved in
implication of Technology in marketing research, the better accurate result that can be obtained
will help all marketing research firms like ResMarket Pty to make high level of profit. It is also
important to mention that in long run process implication of Technology can ultimately regarded
as a budget-friendly method of conducting market research. For example, the online survey

5
TECHNOLOGY IN MARKETING RESEARCH
method can be regarded as one of the best example, where implication of Technology can help to
save money for the marketing research firm.
In the current day business environment, it is important for all marketing research firms
like ResMarket Pty to have the latest and updated information as the demand of the customers
and market scenario are rapidly evolving. Hence, in order to stay ahead in the stuff competition,
it is important for the marketing research firms to set up the infrastructure for technology
implication. It is also essential for the companies to hire skilled software experts, who can make
best use of the technology and thereby help to produce better marketing research result.

6
TECHNOLOGY IN MARKETING RESEARCH
Reference
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Henseler, J., Hubona, G. and Ray, P.A., 2016. Using PLS path modeling in new technology
research: updated guidelines. Industrial management & data systems, 116(1), pp.2-20.
Huang, Y.C., Backman, K.F., Backman, S.J. and Chang, L.L., 2016. Exploring the implications
of virtual reality technology in tourism marketing: An integrated research framework.
International Journal of Tourism Research, 18(2), pp.116-128.
Mittelstaedt, J.D., Kilbourne, W.E. and Shultz, C.J., 2015. Macromarketing approaches to
thought development in positive marketing: Two perspectives on a research agenda for positive
marketing scholars. Journal of Business Research, 68(12), pp.2513-2516.
Neuhofer, B., Buhalis, D. and Ladkin, A., 2014. A typology of technology‐enhanced tourism
experiences. International Journal of Tourism Research, 16(4), pp.340-350.
Norman, D.A. and Verganti, R., 2014. Incremental and radical innovation: Design research vs.
technology and meaning change. Design issues, 30(1), pp.78-96.
Winer, R.S. and Neslin, S.A. eds., 2014. The history of marketing science (Vol. 17). World
Scientific.