University Marketing Research: Technology's Impact Analysis Report

This report provides a comprehensive analysis of the significant impact of technology on marketing research. It highlights the increasing reliance on technology due to customer adoption and explores various benefits, including the effective use of social media for unedited feedback and brand awareness. The report discusses how technology has enabled self-service platforms, fostered agile market research methods, and established new specialized roles within research teams. It emphasizes the importance of advanced data analysis capabilities for extracting actionable insights from large datasets. The report further examines the role of technology in enhancing customer relationship management and concludes by recommending the adoption of technology for market research firms to better understand their customers and improve marketing strategies. Key aspects covered include social media's impact, data collection improvements, and the creation of self-service platforms.

The Impact of Technology on Marketing Research 1
THE IMPACT OF TECHNOLOGY ON MARKETING RESEARCH
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The Impact of Technology on Marketing Research 2
THE IMPACT OF TECHNOLOGY ON MARKETING RESEARCH
Executive Summary
Market research is greatly reliant on technology because most of the customers and end
users are embracing the same. The benefits of technology on marketing research are many and
they include; the incorporation of social media and its effectiveness particularly on unedited
feedback. Further, it has been used by marketing research firms to promote self-service activities
for customers. It has also established new roles that are being utilized in research (Attih, 2014).
The ease of data analysis has also been realized because data is extensive and the critical stage is
mainly the analysis and understanding this data.
Introduction
From accessing emails to making edits of presentations in business, technology has
improved how our days go by and the business environment. Furthermore, marketing research
has received tremendous boost from technology. Technological advancements have constantly
helped the business environment to become increasingly agile and efficient. In the purview of
marketing research, technology has sprung up newer opportunities for getting useful intelligence
in the business environment ( Kova & Salai, 2014). Despite this premise, technology also carries
along some hurdles just like any other form of invention. The most important thing is to focus on
the benefits of this noble factor that everyone strives to harness its fruits for the better.
In most aspects, technology has made the work of market researchers as well as the process of
marketing research per se easier. Even so, there are some mistakes which need to be avoided and
researchers must tread with preternatural circumspection.

The Impact of Technology on Marketing Research 3
As such, there are many ways that technology is of benefit to marketing research, a factor that
draws the focus of this discourse.
Discourse
Technology has permitted market research companies to establish platforms that are on a
self-service basis in which customers foster their own micro-surveys that are short (Zikmund &
Babin, 2015). This is one of the reasons that ResMarket Pty needs to consider as a research
market firm because technology is inevitable. Additionally, technology has fostered agility in the
field of market research. Market research that is agile, as an approach, draws its inspiration from
the development of agile software that prioritizes; many smaller experiments against fewer but
larger bets, data and testing over conventions and opinions, rapid reiterations over campaigns
that are of a big-bang, and the response to a change-over after establishing a plan. The real power
for a business in the contemporary world is the ability to embrace agility; and adopt what is
quickly happening around the very business. These businesses require actionable and relevant
data, and comprehend approaches that catapults them along pivots that are quicker (Attih, 2014).
Technology has established the premise of creating new roles in research. Improvements
in technology, undoubtedly, needs new skills. In particular cases, there will be the need to create
newer roles that have specialized in the areas that technology has established (Smith & Albaum,
2014). As the customers engage with mobile-device multitasking and the entire world,
departments in organizations have no choice but to adapt to the changes in behavior and make
some strategies to suit them.

The Impact of Technology on Marketing Research 4
Therefore, whether a firm embraces technology or not, its customers are constantly embracing it
and competition mainly lies in the use of this technology. When a competitor, for example,
employs a newer technology as soon as it always shows up, customers tend to shift their
allegiance to their products. Again, the creation of new roles is meant to ensure that information
that is obtained from mobile devices and social media is uncannily translated in an efficient and
effective manner for the benefit of the firm (Attih, 2014). For instance, the analytical CPO is
mandated to utilize an approach that is data-driven to make decisions in business. Even though
there is room for a judgment based on instincts, the mandate must always depend on the
advanced analysis to recommend the best course of action for the firm under help.
Social media has extensively lent a hand in promoting market research. Facebook,
LinkedIn, Google Plus and Twitter have widened the purview in which marketing research is
undertaken. There are many exciting newer ways through which social media is improving
market research. Furthermore, it has incorporated a skill that was never adopted before (Zikmund
& Babin, 2015). The environment that social media has created possesses feedback that has
never been filtered before and the true feeling of the clients about a firm and its products or
services can be accessed here. Furthermore, this platform is the best for the management of the
reputation and promoting the awareness of a brand ( Kova & Salai, 2014). Therefore, market
researchers can utilize the capabilities that are above board and inherently exist in the social
media.

The Impact of Technology on Marketing Research 5
When firms learn to master the abilities of social media in market research, their knowledge
about the targeted markets shall be enhanced as well ( Kova & Salai, 2014).
Technology has promoted the ability of firms to analyze data. With a huge amount of data
streaming for collection, technology is desperately needed to analyze this information because
this stage is the most critical in making sense of the data (Smith & Albaum, 2014). In this regard,
technology has been instrumental in making the analytics of data easier but sophisticated at the
same time. When the analysis of data is above board, that information can be relayed into the
establishment of a better management of the customer relationship ( Kova & Salai, 2014). For
instance, the mobile bigwig, O2, utilizes improved and advanced analytics to foster the retention
of customers and maintain loyalty that is long term. The importance is placed on a clearly
defined KPIs with improved data, the choices available will enable one to be in a proper position
to establish the next steps which are the best for the firm. In a simple way, the huge amounts of
information that is received from offline as well as online platforms gives market researchers a
huge pool to analyze and develop accurate strategies (Zikmund & Babin, 2015). Moreover, there
is need to go through the information and develop the best one available for the firm and discard
the irrelevant one. This is only possible with technology. Most importantly, the researcher shall
be aware that his/her work is based on a warehouse of solid data.

The Impact of Technology on Marketing Research 6
Conclusion
Market research is a field that heavily needs technology than the vice versa. Technology
has heavily contributed to the way of approaching market research incorporating evolved
solutions to data and advanced capabilities. At this point in time, no market research firm is
excused to partake in this process and I recommend ResMarket Pty to equally embrace
technology. In the end, it all lies in the fact that customers need to be known better and
technology is making this possible. Some of the ways includes; heavy utilization of social media
by customers, improvements in the collection of data, establishment of new roles in research, and
creation of self-service platforms that enhance engagement freedom by customers and other
parties.

The Impact of Technology on Marketing Research 7
Works Cited
Kova, R. & Salai, S., 2014. Marketing Research in the Contemporary Consumer Environment.
Management Information Systems Journal, Volume 6, pp. 16-22.
Attih, O., 2014. THE ROLE OF INFORMATION TECHNOLOGY IN MARKETING
RESEARCH IN NIGERIA. Marketing Research Journal, p. 47.
Smith, S. & Albaum, G., 2014. An Introduction To MArketing Research. New Mexico: Qualtrics.
Zikmund, W. & Babin, B., 2015. Essentials of Marketing Research. 4th ed. Ontario: Cengage
Publishers.