Impact of Technology on Marketing for Environment -myassignmenthelp

Question: Discuss about theImpact of Technology on Marketing Resarch for Environment. Answer: Introduction Technology is being used by every company with a motive to enhance its performance and deal with the increasing competition in the business environment. ResMarket Pty is a marketing research firm based in Sydney and is focusing on providing quality marketing research services to its customers. It has adopted various technologies for executing the marketing research activities. For enhancing its performance and gaining a competitive advantage over the competitors, it is planning to adopt new technologies. Adopting new technologies will increase the cost of the company as well as may not result in the desired outcomes. These technologies need to be analysed in an effective manner for drawing a decision regarding the technologies ResMarket Pty should use. Impact of technology on marketing research in the present business environment Marketing research activities are being used by the researchers for the analysis of the opportunities available in the business environment for the company. There has been a continuous development of the technology used by the companies for enhancing their performance. Different technologies are used by different companies for conducting their marketing research activities (Alghamdi Bach, 2014). ResMarket Pty is planning to adopt new technologies which will it in providing better quality services to its clients and contributing towards its performance. These technologies include data analytics, marketing automation, social media, virtual reality research tool, customer relationship management and search engine marketing (Bulut, 2013). Data analytics is used for the purpose of analysing the set of data for evaluating the results which are stored in those set of data. Marketing automation is an innovative technology which is used for the extraction of the values of customer engagement. This helps in the analysis of the traffic towards the business. Social media platforms are widely used as a marketing research technology which is cost effective and helps in covering a large market (Shaqiri, 2015). Social media platforms have provided better insights of the market. ResMarket Pty can use this technology for interacting with the targeted market of the clients for gaining a better understanding of the opportunities and threats available in the market (Bulut, 2013). Virtual reality research tool is a cost effective technology which has resulted in conducting the marketing research activities in a better manner by developing deeper knowledge regarding the targeted market of the company. It is a simulation which has been g enerated with the help of computers. This technology can help ResMarket Pty interacting with the real world with the help of three-dimensional environments (Hollebeek Skard, 2017). Customer relationship management is an effective technology which is being used by companies for managing and analysing the interactions of the company with its customers and potential customers. This technology will help ResMarket Pty in providing better results to the clients regarding their interactions with the customers (Masocha1, et. al., 2011). Search engine marketing is a form of internet marketing which is used for the promotion of the websites of the organisations for attracting the visitors towards the website and increasing the traffic. All these technologies are widely used by the firms providing marketing research services. ResMarket Pty can use these technologies for ensuring higher satisfaction level among the clients (Krasnikov Jayachandran, 2008). Benefits of adopting new technologies to ResMarket Pty Technology is creating a huge impact on the manner in which companies are carrying out their marketing research activities. These technologies help in analysing the opportunities and problems present in the business environment. Technology has acted as driving force which is creating an impact on the manner in which organisations are conducting their operations. The focus of ResMarket Pty is on using innovative and effective technologies for meeting the expectations of the customers. Different innovative technologies have been analysed by ResMarket Pty for deciding which technologies it can apply for conducting marketing research activities for the clients in a better way. Adopting innovative technology will enhance the reputation of the company in the market. These technologies can be used for executing marketing research activities in an effective and efficient manner (Salai Ã… ½nideri?, 2011). There are various benefits of using these technologies. These technologies will help in reducing the cost, time and efforts involved in the marketing research activities. ResMarket Pty will be able to focus on the issues faced by the client in a better manner and providing better solutions to them. The motive behind executing market research activities is to collect data related to the trends of the market, opportunities available and threats present in the business environment for clients. These technologies will help in meeting the needs and expectations of the client in a better manner and will provide growth opportunities. It is vital to establish a healthy relationship with clients and this can be done with the help of innovative technologies (Attih Adams, 2014). Conclusion Thus, from the above discussion, it is vital for every company to analyse the trend of the market for analysing the chances of survival and growth in the dynamic business environment. ResMarket Pty is in dilemma regarding the technologies it should use for conducting marketing research activities for the clients and providing effective results to the clients. This report has discussed different technologies which are being used for conducting marketing research activities. These technologies include virtual Reality research tool, marketing automation, social media, data analytics, search engine marketing and customer relationship management. All these technologies reduce the cost and efforts of the company as well as provide a competitive advantage to the company. References Alghamdi, S. Bach, C., 2014, Technological Factors to Improve Performance of Marketing Strategy, University of Bridgeport, Bridgpeort, CT, USA. Attih, O. B. Adams, D. A., 2014, The Role Of Information Technology In Marketing Research In Nigeria, Scientific Research Journal (SCIRJ), Volume 2, Issue 7. Bulut, Z. A., 2013, The Impact Of Marketing Research Activities On Marketing Performance In Textile Companies: A Study In Denizli, Int. Journal of Management Economics and Business, Vol. 9, No. 19. Hollebeek, L. D. Skard, S., 2017, Virtual Reality Marketing: Conceptualization, Theoretical Framework Research Propositions, NHH. Krasnikov, A. Jayachandran, S., 2008, The Relative Impact of Marketing, Research-and-Development, and Operations Capabilities on Firm Performance, Journal of Marketing, Vol. 72, No. 4, pp. 1-11. Masocha1, R., Chiliya, N. Zindiye, S., 2011, The impact of technology on competitive marketing by banks: A case study approach, African Journal of Marketing Management, Vol. 3(3), pp. 68-77. Salai, S. Ã… ½nideri?, R. K., 2011, Marketing Research in the Contemporary Consumer Environment, Management Information Systems, Vol. 6. Shaqiri, A. B., 2015, Impact of Information Technology and Internet in Businesses, Academic Journal of Business, Administration, Law and Social Sciences, Vol. 1, No 1.