Marketing Research Activities Their Clients-Myassignmenthelp.Com

Question: Discuss About The Marketing Research Activities Their Clients? Answer: Introduction Marketing research is the function, which links the consumer, customer and the public to the marketer through the help of information that is available (Malhotra, Birks and Wills 2013). The information is used to identify and define the marketing opportunities and problems, generate, refine and evaluation of the actions involved in marketing. There is also monitoring of the marketing performance along with improving the understanding of marketing as a process. The discussion in this report focuses on the impact of technology on marketing research in todays business environment. The report also discusses about the marketing research (Bloom et al. 2014). The conclusion highlights what the company stands to benefit if they adopt these new technologies into their operations. Discussion Technology has made market research easier by moving data collection capabilities online. The discussion comprises of the impact of technology on the organization, the consumer, impact on product and price, the impact on big data and technology and impact on purpose driven marketing (Baker 2012). The availability of technology that is the big data coupled with a wide variety of digital marketing channels offers with a substantial opportunity for the marketing professionals. The area of marketing has a substantial impact by the number of technological factors that are evolving with time. The organizations have access to more data than before. The modern organizations obtain, organize and utilize these data. The consumers are also impacted by the changes in technology that take place in the market. Impact of technology on the Organization Technology has had an impact on the ability to collect and organize the marketing data from the perspective of the organization. The technology provides help to channel the organization to reach its consumers. The process of developing the different types and formats of advertising assets is also enabled with the help of technology. The organizations have the scope to gather a greater amount of data and a larger space to communicate with its consumers. In the past few decades, there has been a progress in technology (Venkatesh, Thong and Xu 2012). The gathering of information and communication by the organization has become easier than before. As a marketer when one considers the impact of technology it is important to maintain relevant options and channels which are to be utilized to communicate with the existing consumers. Some of them are banner advertisements, blog posts, table ad formats, social networks, search engine results, online reviews and so on. Technology has helped to make data analytics more sophisticated in nature. This enables to strengthen the customer relationship management. Impact on the Consumers When one visualizes from the side of the consumer marketing becomes integrated towards the everyday life. Due to the enormous amount of information that is available, the consumers tend to have an impact from the privacy point of view. Another impact of technology change on marketing is the issue of ad blindness. The consumers thus tend to evolve a capacity to ignore the sponsored advertising content (Babin and Zikmund 2015). Impact on product and price The impact that technology has on the market research is very significant. The social media is a powerful market research tool. The product and consumer lifecycle is changing fast and this is occurring due to the change in technology. Technology has changed the product services. For example in this field of professional selling services, the internet is helping the organization to develop new products that are better for consumers (Haeussler, Patzelt and Zahra 2012). The use of extranet also enables the organization to be confident about certain clients. The extranets provide with access to the internal system of the firm that adds value to the service of the organization. The technology helps the customer to compare prices while buying a product and service (Rodriguez, Peterson and Ajjan 2015). The company needs to provide the similar services as its competitor at a lower price or increase the profit margin of the organization. Impact on big data and technology The big data and technological advances are providing with a whole arrangement of possibilities across the traditional quantitative and qualitative spectrum of the market research. The big data provides for the promise of sample sizes. Technology has enabled new methodologies with the help of mobile data collection tools and wearable to collect data that is close to the consumer. Thus, this helps to avoid the over-reliance on self-report. The general response within the market research industry seems to be that the big data analytics could balance rather than replacing the more traditional market research practices as the surveys and the focus groups (Chen, Chiang and Storey 2012). The market research industry has shaped new opportunities that have been offered by the big data and technology to understand the consumer behavior. The technology enabled data collection method helps the market researchers to build a more accurate and comprehensive understanding of the consumers. Impact on purpose driven marketing Purpose driven marketing is becoming increasingly popular and technology plays a role in its rise. The marketers are shifting the manner in which they are thinking by information the consumers about the respective organization. The marketing research methodologies with the help of the new technology attract new customers. Conclusion The advancement of technology has a great impact on the marketing research that is due to the appearance of revolutionary new research strategy. Some of these rising technologies are the online search engines, biometrics, social media networks, and mobile phones with GPS tracking and improve in the computational speeds. The market research technology continues to evolve. The present and future trends point at the social media and user-generated feedbacks where analyzing what the consumers have said is possible rather than observing it. The ability to adapt to these new trends is an important factor for the organization to remain competitive and deliver the products and services that the consumers want and need. The main challenge for the market researchers is the ability to establish fruitful collaborations with the relevant experts who operate in the technology industry in a traditional manner. References Babin, B.J. and Zikmund, W.G., 2015.Exploring marketing research. Cengage Learning. Malhotra, N.K., Birks, D.F. and Wills, P., 2013.Essentials of marketing research. Pearson. Conclusion Venkatesh, V., Thong, J.Y. and Xu, X., 2012. Consumer acceptance and use of information technology: extending the unified theory of acceptance and use of technology. RodriAnswer:guez, M., Peterson, R.M. and Ajjan, H., 2015. CRM/social media technology: impact on customer orientation process and organizational sales performance. InIdeas in Marketing: Finding the New and Polishing the Old(pp. 636-638). Springer, Cham. Bloom, N., Garicano, L., Sadun, R. and Van Reenen, J., 2014. The distinct effects of information technology and communication technology on firm organization.Management Science,60(12), pp.2859-2885. Baker, J., 2012. The technologyorganizationenvironment framework. InInformation systems theory(pp. 231-245). Springer New York. Haeussler, C., Patzelt, H. and Zahra, S.A., 2012. Strategic alliances and product development in high technology new firms: The moderating effect of technological capabilities.Journal of Business Venturing,27(2), pp.217-233. Chen, H., Chiang, R.H. and Storey, V.C., 2012. Business intelligence and analytics: From big data to big impact.MIS quarterly,36(4).