Role of Technology in Marketing Research for ResMarket Pty Ltd

Question: Write about theRole of Technology in Marketing Research for ResMarket Pty Ltd. Answer: 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 technolo gy 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). 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). 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 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. 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: https://www.scirj.org/papers-0714/scirj-P0714159.pdf [Accessed 23 August 2017]. Hawkins, J., 2002. The Role of Market Research. [Online] Available at: https://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: https://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: https://blog.marketresearch.com/blog-home-page/bid/339928/5-ways-technology-has-changed-market-research [Accessed 23 August 2017].