Technology in Marketing Research for ResMarket Pty-myassignmenthelp

Question: Discuss about theTechnology in Marketing Research for ResMarket Pty. Answer: 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. 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 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. 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. 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. 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