Technology's Influence on Marketing Research: A Report for ResMarket

This report investigates the crucial role of technology in modern marketing research, with a focus on providing insights to ResMarket Pty, a Sydney-based marketing research firm. It highlights the advantages of integrating technology into the research process, including improved data analysis through software like SPSS and Stata, the efficiency of online surveys for data collection, and the reduction of errors in data storage and analysis. The report emphasizes that technology not only enhances the accuracy and speed of research but also creates new job opportunities within the field. It concludes with a recommendation for ResMarket Pty to embrace technological advancements to optimize its research methods and maintain a competitive edge in the industry. The report also mentions the importance of defining the research problem and the role of social media platforms in online surveys.

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

1TECHNOLOGY IN MARKETING RESEARCH
Executive Summary
The name of the current business report is a highlight upon the importance of Technology
implication in marketing research process. The result of the report will help to convince the
management of ResMarket Pty, which is the Sydney best marketing research firm to incorporate
the use of latest technological software in all the marketing research methods.
With the help of this technology it is possible to obtain more accurate result of marketing
research. It is also possible to process and make full use of the huge amount of data that are
collected in the overall process.

2TECHNOLOGY IN MARKETING RESEARCH
Table of Contents
Introduction......................................................................................................................................2
Advanced method for marketing research.......................................................................................2
Technology helps to improve data analysis process........................................................................3
Technology implication can create new job opportunities..............................................................5
Conclusion and Recommendation...................................................................................................5
Reference.........................................................................................................................................6

3TECHNOLOGY IN MARKETING RESEARCH
Introduction
The use of technology is an essential part in the activities related to marketing research.
Better level of accuracy can be obtained with the help of technology integration in marketing
research process.
This current report will focus upon advantages that are related to technology implication
in marketing research activities. The result of this report will help to convince the internal
stakeholders of ResMarket Pty, which is a Sydney, based marketing research firms. Currently
many of the internal stakeholders of the organisation are not convinced about the implication and
advantages of use of Technology due to the high level of cost that is involved. With the help of
the current report it will be possible to highlight upon the key advantages that are associated with
the process.
Advanced method for marketing research
In the current days of business environment, it is important for all major companies to
have the latest information related to marketing research that can help them to implement
effective business plan. This is particularly essential in the fast changing consumer market
(Norman and Verganti 2014). The primary step in the research process is to define the research
problem. This can help to highlight upon the existing issues of marketing. According to
Neuhofer et al. (2014), with the implication of Technology in marketing investigation, it is
possible to redefine the Research Design that is being implemented in practice. The data
collection process is believed to be the most vital step in every marketing research. Primary data
is required in order to properly analyse the current condition of market. In this context the market
researchers have to deal with huge amount of data.

4TECHNOLOGY IN MARKETING RESEARCH
Mittelstaedt et al. (2015), have mentioned about the importance of online survey system
that is believed to be one of the effective ways that Technology can help in marketing research
activities. One of the major advantages of online survey is that it enables the market researchers
to collect huge amount of data within brief period of time. This has been a major improvement
over manual process of Data Collection, which required huge amount of time. With online
survey it is also possible to collect data from wide range of audience. Social media platforms are
one of the popular destinations from where online data survey is conducted. It is also possible for
the participants to easily express their opinions about the marketing research issues.
In Manual process of Data Collection, it is one of the challenging tasks for the market
researchers to properly arrange the collected data and store them for further analysis.
Nevertheless, with technology in the form of digital databases, it is possible to overcome the
challenge and also reduce the risk of errors that can occur in the process of manual data storage
(Huang et al. 2016). The overall process being highly automated, it is also possible to achieve
high level of accuracy in the result of marketing research.
Technology helps to improve data analysis process
In the current days, the market researchers use the latest technological software in order
to properly analyse the data that is needed to deal marketing research activity and also provide
maximum precise and accurate result. SPSS and Stata, are few of the major software that are
used in the current a market research in order to analyse the huge bulk of data that has been
collected from primary sources. Both quantitative and qualitative form of data analysis can be
done with the help of this latest software. The challenge of dealing which statistical analysis of

5TECHNOLOGY IN MARKETING RESEARCH
marketing data and easily be resolved with the help of the procession programming that has been
incorporated in the technical software (Winer and Neslin 2014).
There is also the challenge of errors, which is associated in the process of manual data
analysis. These errors can compromise upon the overall quality of the research and also reduce
the level of accuracy. The technology also allows the opportunity for storage of the result of data
analysis that can be used for future purposes (Henseler et al. 2016).
Transcription analysis is one of the essential features of Technology implication and
software that are used in data analysis process. This system can help to focus upon the crucial
points that are associated with analysis of interview transcript. Neuhofer et al. (2014), have
added in the context that coding and interpretation techniques can also be implemented in the
overall marketing research process, which is believed to be few of the important features related
to technology integration.
There is also special software that can help in advanced level of searching. The searching
tools are applicable in cases, where it is essential for market researchers to explore specific
research parameters in marketing. Norman and Verganti (2014), have mentioned about the fact
that there are risk of incorporating false or fake information in Manual process of data analysis.
This false information can compromise the research quality. The Technology can very easily
help to reduce the risk of incorporating fake information in the result of marketing research.
Hence it is possible for the business firms to easily rely upon the result of the investigation
conducted by marketing research firms.

6TECHNOLOGY IN MARKETING RESEARCH
Technology implication can create new job opportunities
It is essential for all marketing research companies to recruit software experts in order to
ensure best possible result obtained from marketing research activities. Hence, with the
implication of Technology in marketing research it is possible for the business firms to create job
opportunities (Babin and Zikmund 2015). The software engineers an expert can help to ensure
proper method of data collection and analysis are being implicated in the overall process.
Conclusion and Recommendation
Better level of accuracy that is obtained in the marketing research is believed to be the
major advantage of Technology. In spite of the fact that Technology implication process involves
high level of expense at initial stage, is important to note that in longer duration the use of
technology in the form of online survey and use of data analysis software can prove to be budget
friendly.
Hence, it is essential for marketing research firms like ResMarket Pty to hire software
and technological expert in order to ensure that they are able to imply the best research method.
This can help them to provide better result in all marketing investigation activities.

7TECHNOLOGY 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.