Technology's Impact on Marketing Research: A Detailed Analysis

This report examines the crucial role of technology in marketing research, focusing on its impact on data collection, analysis, and strategic implementation. It highlights how companies like ResMarket Pty Ltd can leverage technology to gain a competitive edge in the market. The report explores the use of social media, big data, and ICT to reach target audiences, gather valuable insights, and refine marketing strategies. It also addresses the cost implications of adopting new technologies and emphasizes the importance of justifying these investments with improved outcomes. The analysis includes perspectives from industry experts and concludes that embracing technology is essential for effective marketing research and client satisfaction. The report emphasizes the benefits of technology for enhanced data analysis and a better understanding of customer needs, ultimately leading to more successful marketing campaigns. The report is available on Desklib, a platform offering AI-based study tools and resources for students, providing access to past papers and solved assignments.

Role of Technology in Marketing Research
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Executive summary
None can deny the role of technology in current global business scenario. Marketing, being part
and parcel of current business strategy, cannot deny the role of technology for betterment of
service to the clients by marketing firm. This article will emphasize on the role of technology in
marketing to ensure enjoyment of competitive edge in the present market- either domestic or
global. Initial introduction of technology in marketing by any marketing firm may incur higher
level of cost, but the impact of that introduction will add value to the marketing strategy of the
clients by the marketing firm, ResMarket Pty Ltd of Sydney, Australia.
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Table of Contents
Introduction....................................................................................................................................................4
Impact of technology in Market Research.....................................................................................................4
Comments of critiques...................................................................................................................................6
Impact of cost.................................................................................................................................................6
Conclusion.....................................................................................................................................................7
References:.....................................................................................................................................................8
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Introduction
ResMarket Pty Ltd is a renowned name as the marketing service provider for the client in the
area of Sydney. The company has good number of cliental base who are depending upon the
company for their marketing strategy with subsequent implementation to ensure their
sustainability in the market. Marketing strategy is made to make the products or services of the
company known to the target audience. For this purpose, identification of target audience is
prime necessity. This will lead to different level of marketing activities including marketing
research for the said product or service. These services provided to the clients attract costs.
While generating the marketing service for the clients, ResMarket raises bills for the service
rendered (Smith, 2016). When the company will introduce latest applicable technology for the
clients, this will raise the level of billing to the clients which they may not accept. It is the duty
of the company to justify their implementation of new technology for the clients with clear
conception of how the same will justify their enhanced expenses with better result of marketing
activities. There are different marketing strategies with the main objective of placing the product
or service on the top amongst the competitors and the companies are assigning this job to the
marketing research companies who are master on this subject. This article will highlight
marketing research strategies can be fruitful for the clients with little extra cost for them by
availing the service of technologies (Attih & Adams, 2014).
Impact of technology in Market Research
Technology plays vital role in market research in different ways. Latest introduction of social
media in the form of Facebook, Twitter and other web-based platforms initiate the bigger sphere
of accessibility of the target audience which is elementary for domestic as well as global target
audience for the products or services (Hawkins, 2002).
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Technology provides scope for collection of improved or quality data and ensures more scientific
and enhanced analysis of data by ICT which can derive the proper way to guide right steps for
future need of the brand.
Big data gathered through ICT can be helpful towards information for research and this
obviously enhances the scope of creating new roles in research of the clients (Smith, 2013).
Given below the diagram which can clearly give ideas about the role of technology in marketing
research with the enhanced level of scopes for the clients by the marketing research companies
like ResMarket Pty Ltd:
Diagram: Marketing research and technology effect (Washington, 2013).
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Comments of critiques
As per Doug Schorr, Chief Insights Officer, Schorr Creative Solutions Inc, technology is
exploring new scopes for marketing research as the global sphere is becoming smaller gradually
through the intervention of technology in marketing. Main aspect of marketing research is to
reach the target audience and technology can make easier options to accomplish such objective.
Technology contributes to marketing research in positive way by accessing the target audience
crossing the border of the geographical barriers. This platform can ensure to reach different level
of target audiences for different clients with the easy and accessible mode to make the specific
research successful for the clients. The use of data including management of big data makes the
research possible with clear identification of audiences and gets the feedback from them
regarding the products or services of the clients for which the research is designed.
Cathy Harrison, the project Director of Forbes Consulting, a division of Copernicus Marketing
highlighted different technological interference in marketing research with the involvement of
integrated shape of multiple data sources, which permits the overall view of the personality or
situation. The role of technology in marketing research can ensure the integration of data
including biometric and digital data through latest technological devices (Schmidt, 2016).
Impact of cost
With the above discussion and comments of critiques, it is evident that technology can add value
in the field of marketing research in most positive manner. This effort can make debate of
enhanced level of expenditure for the researcher, but at the same time the use of technology can
mitigate the scope of mistakes or misappropriation of data used for the research methodology.
Marketing research can focus on the field of need of customers, with subsequent improvement of
the product or service. The cost to introduce technology in the operation management of
marketing research by any company can raise debate between the stakeholders, but none can
deny the role of technology for effectiveness of successful marketing research for the clients. It is
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often found that the target audience from overseas can face difficulty to access the platform of
the company where they can give their feedback. A good website can ensure that with the help of
technology and thus the same can enhance the scope of better marketing research for the clients
of the marketing research firm. A good and professional application of technology in this field
can surely make the job of researcher easy for the clients to make them understand about the
future needs of the product and service and enable them to take proper action for enhancement of
service or quality (Jones, 2013).
Conclusion
ResMarket should adopt for introduction of technology in applicable forms for their activities
which are destined for the clients. Technology can ensure better result with more perfect
inference for the clients. In this way, the company should adopt this to ensure better result for the
clients and make them more than satisfied with the marketing research taken up for them by the
firm.
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References:
Attih, O. & Adams, D., 2014. The role of information technology in marketing research in
Nigeria. Scientific Research Journal, 2(7), pp.44-52. Available at: http://www.scirj.org/papers-
0714/scirj-P0714159.pdf [Accessed 23 August 2017].
Hawkins, J., 2002. The Role of Market Research. [Online] Available at:
http://ecorner.stanford.edu/videos/55/The-Role-of-Market-Research [Accessed 23 August 2017].
Jones, C., 2013. Impact of Technology on Marketing Research. [Online] Available at:
https://zenportfolios.ca/capu-bmkt-360-01-summer-2013/2013/06/01/chapter-3-impact-of-
technology-on-marketing-research/ [Accessed 23 August 2017].
Schmidt, S., 2016. How Technology Is Changing Market Research. [Online] Available at:
http://marketresearch.com/how-technology-is-changing-market-research [Accessed 23 August
2017].
Smith, R., 2013. Evolutionary Changes in Market Research Technology. [Online] Available at:
https://www.qualtrics.com/evolutionary-changes-in-market-research-technology/ [Accessed 23
August 2017].
Smith, A., 2016. The Role of Technology Providers in Market Research. [Online] Available at:
https://www.flexmr.net/blog/marketing-strategy/2016/6/technology-market-research.aspx
[Accessed 23 August 2017].
Washington, R., 2013. 5 Ways Technology Has Changed Market Research. [Online] Available
at: http://blog.marketresearch.com/blog-home-page/bid/339928/5-ways-technology-has-
changed-market-research [Accessed 23 August 2017].
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