The Role of Technology in Marketing Research Analysis

This report examines the significant impact of technology on modern marketing research practices. It highlights the advantages of incorporating technology into data collection and analysis, focusing on online surveys and advanced software tools. The report emphasizes how these advancements lead to time and cost savings, improved accuracy, and the ability to gather data from a larger audience. It also discusses the importance of adapting research methods and provides recommendations for the ResMarket Pty, a Sydney-based marketing research firm, to leverage technology for enhanced data collection and analysis. The report covers various methods, including online surveys, data analysis software like SPSS and SAS, and the importance of coding to identify irrelevant data, ultimately contributing to more effective business planning and decision-making. The conclusion reinforces the benefits of technology adoption, recommending system building, proper distribution channels, and training for market researchers to maximize the value of technological infrastructure.

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

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TECHNOLOGY IN MARKETING RESEARCH
Executive Summary
The aim of the current report is to highlight upon the impact of the technology implication in the
process of the marketing research. As the advantages of the use of technology in the process of
the data collection and analysis are being highlighted, it will help the ResMarket Pty to make use
of the analysis software in the process of providing better marketing research result. The major
advantage in this process will include the savings of time and expense in the market investigation
activities.

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Table of Contents
Introduction......................................................................................................................................4
Advanced research method of marketing with technology.............................................................4
Advanced form of Data Analysis....................................................................................................6
Conclusion and Recommendations..................................................................................................6
Reference.........................................................................................................................................8

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TECHNOLOGY IN MARKETING RESEARCH
Introduction
The aim of the current report is to discuss about the importance and impact of technology
in marketing research activity. With the fast changing world of business environment, it is
important for all organization to collect the latest data in order to prepare the marketing plan.
There are various effective tools and methods that are related to marketing research activities and
it help to increase the level of accuracy of the marketing research.
The conclusion that is drawn from this report will help the ResMarket Pty, which is the
Sydney based marketing research firm to implement the application of Technology India
investigation work. Hence, it will be possible for them to improve the data collection and
analysis procedure.
Advanced research method of marketing with technology
As the scenario of business environment in the current days are undergoing Rapid
change, it is only with the help of latest relevant data that are collected in huge amount that
makes it possible for the marketing researchers to make better prediction (Winer and Neslin
2014). It is important to modify the marketing research method that is an essential part of
Technology implementation. It is also important to modify the data collection and analysis plan
in order to make best use of the implication of Technology. There are also different methods
used in sampling of the market size.
According to Norman and Verganti (2014), the method of online survey is believed to be
the best effective techniques that are used by current day market researchers in order to collect

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maximum amount of data from the given sample size. The various online portals and platforms
like the social media websites are few of the popular places, from where data from the online
survey can be collected. Babin and Zikmund (2015), have mentioned that one of the major
advantage of this online process of Data Collection is that it can help to save huge amount of
time and expense that he is usually in the case of manual process. This is mainly possible due to
the fact that the result is obtained automatically with the help of the coding software. The survey
can also focus upon a larger size of target audience. It is also important to mention that the entire
process of Data Collection is done automatically with the help of latest software that can help to
store the data for further analysis. This significantly reduces the chances of errors, which the
surveyors have to encounter during the process of manual data collection. The online portal for
the server can be accessed by the participants in any time. This provides them with the
opportunity of providing better opinion about the subject area of marketing research.
According to Henseler et al. (2016), high level of accuracy is one of the major
advantages of the online survey method. As the market researchers can focus upon larger group
of audience, it is possible for them to provide better accuracy results that are used in making
advanced level of business plan. There are chances in many cases, where in the manual form of
data collection, there is a chance of information being unethically manipulated by the surveyors.
This can normally be avoided in the case of electronic forms, as it is possible to implement the
monitoring process. Hence, there is high chance that the result of the research work will be
neutral and completely reliable for further reference. The cost efficiency is another major
advantage of the online survey. The overall cost that is involved in the process of printing the
survey forms can be saved (Neuhofer et al. 2014).

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Advanced form of Data Analysis
The tools and software that are used in the process of data analysis are believed to be one
of the better ways that technology can help in the work of marketing research. SPSS, SAS and
JMP are few of the popular forms of data analysis software that are used by the market
researchers in order to deal with the complexity involved in the process of data calculation and
processing. These commercial forms of the data analysis software are mainly used on in both
quantitative and qualitative forms of data analysis that is aimed to provide better result of the
data that are being collected in the overall process (Huang et al. 2016). There is also the chance
of having to maintain high level of flexibility of data that are being processed. This will allow the
market researcher to analyze the wide range of data that are being collected from wide groups of
audience. Coding of the data is also possible that can be used in the process of identifying any
particular parameter of the marketing terms. The coded section of the database of the marketing
research can also extract for the purpose of making business plan. This can provide access to the
project managers to use all forms of information. There is a significant chance that the data that
has been collected in the overall process can have fake or irrelevant data. The coding software of
the data analysis can identify the irrelevant data and hence is able to provide better and accurate
result of the research (Mittelstaedt et al. 2015).
Conclusion and Recommendations
It can be said in the concluding note that the better level of accuracy and the high level of
cost efficiency are the major advantages and impact of technology implication of the marketing

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research. With the fast changing scenario of the marketing environment, the use of the data
analysis and coding software can help to save huge amount of time that is necessary in the
overall process of business plan implementation.
Hence, it is highly recommended for the ResMarket Pty to modify the overall process and
activities related to the marketing research that can help them to make most use of the
technology within the market investigation.
System building process is one of the important components of Technology application in
marketing research. It is essential to develop the overall business portfolio and infrastructure in
order to make best use of the opportunity that is being provided by technology in including data
analysis software. It is also essential to have proper distribution channels in the market, where
the technology can be implicated in order to collect relevant data. Proper training should also be
given to the market researchers to make best use of the available technological infrastructure. It
may be the fact that the initial cost of setting up the technological infrastructure is high.
Nevertheless, in the long run operational process, this can help the market research firm to save
money.

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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
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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.