Marketing Research Report: Impact of Technology on Market Research

This report delves into the significant impact of technology on the field of marketing and market research. It examines how technology has revolutionized data collection, organization, and analysis, particularly through social media and advanced analytics. The report emphasizes the benefits of adopting new technologies for marketing research firms, highlighting how they can improve efficiency, reduce costs, and gain a competitive edge. Key areas covered include the changing roles of marketing, the influence of technology on consumer behavior, and the integration of data from multiple sources to produce meaningful insights. The report concludes by advocating for business systems that can effectively integrate complex, scattered technologies to provide actionable information for decision-making.

Running head: MARKETING RESEARCH
Marketing Research
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Abstract
In this particular report the various benefits of using new and innovative technologies has been
highlighted. In the introduction the impact of technology in the marketing sector is emphasized
upon. As per the perception of the organization, the technology has a great impact on the ability
of collecting and organizing the data relating to marketing, developing a process of different
types and formatting the advertising assets. In the content, the impact of technology on the
market research has been pointed out and how a marketing research firm would benefit by
adopting the new technologies. In the conclusion, the outline of the business system is given
which should reach out to each organization so that the contrasting information can be integrated
in a more meaningful way.

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Table of Contents
Introduction......................................................................................................................................3
Role of marketing............................................................................................................................3
Impact of technology on market research........................................................................................5
How a marketing research firm will benefit by adopting new technologies...................................6
Conclusion.......................................................................................................................................8
References........................................................................................................................................9

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Introduction
There has been a significant impact of technology in the field of marketing along with
every other discipline in the business. The impacts of technology in the marketing sector are
diverse. Organizations are given the task of managing more of marketing options than before and
the consumers have been integrated more with the marketing information than it had been in the
past (Babin and Zikmund 2015). As per the perception of the organization, the technology has a
great impact on the ability of collecting and organizing the data relating to marketing, developing
a process of different types and formatting the advertising assets. Organizations have data,
marketing formats and various online places for communicating with the customers. When a
marketer considers the impact of technology, the thing, which is most important, is to maintain a
full scope for the relevant options and various channels, which can be used to communicate with
the prevalent consumers. Marketing has increasingly integrated into everyone’s life if we see
from the consumers perception. Consumers are having a great impact from the privacy point of
view because of the amount of information available from various social networks (Johnston and
Marshall 2016). For both the organization and the consumers, the most important takeaway
would be the way big data, the diverged distribution opportunities, the way the products and the
consumers are combined.
Role of marketing
As we have seen that the main objective of the marketing efforts of the organization is
developing satisfying relationships with the customers that will ensure benefits for both the
organization and the customers. At the organizational level, marketing has been regarded as the
most important vital function, which is necessary for all the industries whether the organization

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is earning profit, or not (Jayawarna 2014).For the organizations who are making profits,
marketing is important for bringing revenue and bring profits for the organization. In case of the
non-profit organizations, marketing is important for earning profits like raising donations or for
supporting the cause. It is unlikely for both the organizations to survive in the absence of a strong
marketing effort. Marketing is also regarded as the organizational business area, which
frequently communicates with the public, and subsequently what the public knows about an
organization is determined by interacting with the marketers (Malhotra, Birks and Wills 2013).
There are various benefits which marketing offers to the society, which includes:
 Development of products that would satisfy the needs of the people and products that
would raise the standard of living of the people.
 Competitive environment helps to keep the price of the products low.
 Development of products distribution systems that provides access to products for a large
number of customers prevailing in different geographical areas.
 Increase in demand for the products in the organization would be require expanding
labour force.
 Techniques having the ability to transmit the messages that will change the social
behavior in a positive way.
Impact of technology on market research
One of the most powerful tool for the market research is social media. On contrary
keeping a good track record is next to impossible this is due to the availability of number of users
online. The number of people who are online is considered positive but gathering of data can be
treated as burdensome. Social media has been considered as the most important observational

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researches (Hajli 2014). Internet and the other technology advances will have great impact on the
marketing research. The lifecycles of the product and the consumers are changing rapidly and it
is mainly because of technology and internet. The amount of data being gathered has also being
increased greatly.
How a marketing research firm will benefit by adopting new technologies
Technology helps in innovating the business and promoting growth. the facility
management organizations tend to be wearying new technologies, take risks and implement
solutions. Adaptation of new technology is one of the ways for driving growth and profitability
and it can even make the business better. With advancing data analytics and the business
management system it helps the industries in cutting the costs down and gaining a competitive
edge. It is even crucial for the business leader and the technology partners to work as per the
strategy prepared. Innovative technologies can help in cost reduction and lower barriers to entry
(Grint and Woolgar 2013). Technologies involved here would include mobile applications,
cloud, business intelligence platforms and applications. It is important that the new technologies
are such that it provides improvement in the business outcomes. Thereby, while considering the
emerging technologies the organization should consider the business position with regards to the
involved risks and the rewards. The rewards should be significant. By using early adaptors, the
organization can determine the possible rewards.
Adaptation of the innovative technologies means that the organization has time to learn how to
operate the technology in the best possible way by claiming the market share and take into
consideration whether to go ahead or not. By successfully implementing, the right technology
stakeholders can deliver business performance benefits up to the bottom line. For enabling the

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management, organization to operate effectively the new technology should be in place. New
technologies will increase the productivity and improve the efficiency.
Technology has opened various options which making the world a much smaller place.
Being a researcher, technology is capable of accessing the respondents globally and processes
the insights and peek inside the life of the respondents in real time whenever and wherever they
happen to be (Clarkson 2014). Technological advances in the marketing sector involve the
integration of multiple data sources, giving a holistic view of a person. Technology enables the
integration of the collection of data and helps the business in producing some meaningful
insights.

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Conclusion
Today’s business systems should be such that it should reach each organization so that
the contrasting information can be integrated in a more meaningful way. They should have the
capability of coping up with the complexity related to the scattered technologies and an
enterprise information base. Quick development of applications would go without saying
anything and the applications should be designed in such a way that it embraces constant change.
The business system should be a knowledge-based system and it is important for the research
reports to specify the alternative courses of actions and the probability of success wherever
possible from these alternatives.

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References
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Christensen, C.M., 2013. The innovator's dilemma: when new technologies cause great firms to
fail. Harvard Business Review Press.
Clarkson, P.H., Accenture Global Services Gmbh, 2014. Technology benefits realization for
public sector. U.S. Patent 8,655,710.
Grint, K. and Woolgar, S., 2013. The machine at work: Technology, work and organization. John
Wiley & Sons.
Hajli, M.N., 2014. A study of the impact of social media on consumers. International Journal of
Market Research, 56(3), pp.387-404.
Jayawarna, D., Jones, O., Lam, W. and Phua, S., 2014. The performance of entrepreneurial
ventures: Examining the role of marketing practices. Journal of Small Business and Enterprise
Development, 21(4), pp.565-587.
Johnston, M.W. and Marshall, G.W., 2016. Sales force management: Leadership, innovation,
technology. Routledge.
Malhotra, N.K., Birks, D.F. and Wills, P., 2013. Essentials of marketing research. Pearson.
.

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