The Impact Of Technology On Marketing †MyAssignmenthelp.com

Question: Discuss aboutt the Impact Of Technology On Marketing Research. Answer: 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. 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 t hem 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. 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. 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 we ll 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. 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. References 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.