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Marketing Research Of ResMarket

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Question:

Discuss about the Marketing Research of ResMarket.
 
 

Answer:

Introduction:

With the advancement in the technology, the revolutionary change has been observed in the way the customers and the companies are interacting with each other. The pace of innovation is increasing across the world in terms of technology (Orlikowski, 2008). It has been analysed that technological tools are used by the companies in order to bring effectiveness to their processes. All the department of the company such as HRM, customer support, marketing etc. use the technological tools in their processes so as to enhance the quality of the work. Marketing research is one of the functions in the organization that is very important for the growth. Thanks to the technological advancement that supported this function to be more efficient.

What is market research?

Market research is the function of the organization that is based on conducting the research of the market and the customers to analyse the situation (Orlikowski, 2007). In order to analyse the situations, the researchers have to use some of the techniques and strategies such as interviews, questionnaires, surveys etc. to collect the data of the customers. If these techniques are associated with the latest technology then it becomes easier for the researchers to conduct the research.

Technological tools used in market research:

There are various tools that can be used in marketing research conduction process. This is because these tools enhance the speed and efficiency of processes.

Mobile computing or technology

It is one of the technologies that has served the area of market research and made it very efficient. Mobile technology helps the researcher to take the real time data. This helps to take accurate results of the situation of the market (Petruzzellis, 2010). The geo location is the feature of mobile technology that allows the researchers to track the location from where the data is coming. This also helps them to categorize the location wise requirements of the customers and the situation of the market.

Computer assisted technology:

It has been analysed that the CAPI technology that is the computer assisted personal interviewing technology is used by the market researchers since 1990’s. But, the limitation of the first generation laptops has restricted its use (Mohr, Sengupta and Slater, 2009). After the improvement in the computer technology, the CAPI is used efficiently in the marketing research process. In addition to it, some more technologies such as Touch Tone data Entry and Interactive Voice Response has also been introduced to improve the market research processes.

Social media and internet:

Internet and social media technology is the very important part in dealing with the customers. This is because the social media platforms allow the researchers to post about their products and services and get the reviews and recommendations of the customers from there (Lovelock, 2007) .

Online forums:

Online forums can be used to post the questionnaires that can be filled by the customers. This helps the researchers to avail the data and preferences of the customers in order to customize the market strategies.

Benefits of these tools to the organization:

Technology and innovation is introduced in order to reduce the efforts of the employees working in the different departments of the organizations. Different departments have different befits from the technological tools. Some of them are discussed below in terms of marketing research system:

Reduces time and efforts: This is the first and the foremost benefit that can be enjoyed by the organization or the employees. The market researchers now do not have to be on the fields the entire tie but can contact the customers through online portals and thus reduces their efforts and time of conducting research (Berisha-Namani, 2013).

 


Massive reach: with the earlier techniques, it was difficult for the researchers to reach the masses and the company need to hire so many people to reach the customers at very place. Now, with the advancement and integration of technology in the research conduction process, it has been analysed that the researcher can easily target the masses at once (Krasnikov and Jayachandran, 2008). He does not need to make so much of efforts in targeting and interacting with the people.

Accuracy: efficiency of results and accuracy in the outcomes can also be seen if the technological tools are used instead of manual techniques. This is because the data can be analysed accurately from the analytical software or online tools.

Conclusion:

This report concludes that ResMarket should use some of the new and latest technological tools in the market research process. It has been analysed that technology has its great impact on the marketing research process and system (Horbach, Rammer and Rennings, 2012). Market research is the department of the company that requires the technological tools in order to make the process effective. There are various tools such as social media, mobile technology, computer assisted personal interview technology etc. these technologies provides the advantages to the company. The first advantage is accuracy in the process and the outcomes. In addition to it several other advantages are also achieved by the company such as efficiency in data analysis, reduction of efforts and time, etc.

 

References:

Berisha-Namani, M., 2013. Information technology, internet, and marketing. International Journal of Electronic Commerce Studies, 4(1), p.103.

Horbach, J., Rammer, C. and Rennings, K., 2012. Determinants of eco-innovations by type of environmental impact—The role of regulatory push/pull, technology push and market pull. Ecological economics, 78, pp.112-122.

Krasnikov, A. and Jayachandran, S., 2008. The relative impact of marketing, research-and-development, and operations capabilities on firm performance. Journal of marketing, 72(4), pp.1-11.

Lovelock, C., 2007. Services Marketing People, Technology, Strategy, 5/e. Pearson Education India.

Mohr, J.J., Sengupta, S. and Slater, S.F., 2009. Marketing of high-technology products and innovations. Pearson Prentice Hall.

Orlikowski, W. J., 2007. Sociomaterial practices: Exploring technology at work. Organization studies, 28(9), 1435-1448.

Orlikowski, W.J., 2008. Using technology and constituting structures: A practice lens for studying technology in organizations. In Resources, co-evolution and artifacts (pp. 255-305). Springer London.

Petruzzellis, L., 2010. Mobile phone choice: technology versus marketing. The brand effect in the Italian market. European Journal of marketing, 44(5), pp.610-634.

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