The Impact Of Technology On Marketing Research †Free Samples

Question: Discuss about the Impact Of Technology On Marketing Research In Todays Business Environment. Answer: Introduction The procedure for the collection of relevant information for analysis and review for the purpose of decision making, policy making and a smooth running of the business is called Market research (McQuarrie 2015). There are basically two types of market research primary and secondary. Secondary market research is said to be conducted when there are data already available on the relevant topic that has to be researched upon. Secondary research sets a base for primary research and makes the process easy. Primary research on the other hand is the information that has been gathered on first hand for a specific idea. Some of the tools of primary research are interviews, filling up survey sheets, telephone survey, survey on the focused group etc (Malhotra, Birks and Wills 2013). Technology has a very important impact on the modern market research procedures it has made complicated calculations which are necessary for analysis easy; it has also has made the process fluid and much smoother. There Information and communication technology advancement has let organizations conduct market surveys on a much easy rate (Poynter Williams and York 2014). Previously technologies used to collect data Companies collect data to ensure the level of customer loyaty and custmer satisfaction. Previously to conduct a market survey telephone medium was the most updated version of technology used. A person had access to data base of the potential customers and he or she used to call individuals and talk to them and record their inputs. This has a lot of drawback, first of all most of the time people are unwilling to talk to strangers and give them time from their busy schedule to talk to them. The recorded data was hand written or was typed in computers which took a long time to process in a way that it would make sense. The analysis process of this technology was very slow paced. Face to face interview with the customers is affective for industries or businesses that have to deal directly with the customers for example: restaurant business. In this case it is feasible and people are also willing to talk to the management of a restaurant or an eatery. But this is not an option for a multi national company or a manufacturing industry. The impact that the analysis will draw from the market research has to efficient and quick in order to positively benefit the company (Babin and Zikmund 2015). Filling up questioner is also another very prevalent way of gathering information and relevant data. Previously, first the questions had to be set and then the hardcopies of the questioner were circulated among the potential or present customers and they had to fill in the answers of the questions. After that the question papers used to be individually collected and segregated (if needed) and then each question were analyzed one by one. It was a tedious task and used to take a lot of time to come to a relevant conclusion about the research (Zikmund 2013). The internet has revolutionized the way market research works. It has made the process simpler and more efficient as there is less provision for any human error in the analysis of the research. The market survey previously used to be a lengthy procedure the advent and the modern use of internet has squeezed the time as well which has in turn made policy and decision making process also rapid and smooth (Barnham 2015). IBM SPSS Data Collection Survey Reporter This software offers valuable feedbacks and insight from the customers for an organization. It comes with a flexible reporting, coverage treatment and visual solution. It assures to deliver the right information to the right person at the right time, helping them to quickly gather the importance of the results that has been calculated so that decision making process is easy, effective and smooth. Importance of research design It is basically a plan for the research that is to be conducted for a particular topic. It involves the type of research that is required, tools of research that are needed and a strategy which has to be followed in order to maintain the efficiency of the market research. For example, the strategy for market research of a restaurant or a hotel will be different form a hardware company. The nature of the business, the product or services that are offer by the organization, the scale of the business and also the objective of the research are the points that are to be kept in mind will making a research design (Norman and Verganti 2014). The design of the software is focused on interactive reporting so that the significant insights for the information gathered from the customers can be used for the betterment of the organization. As this software enables flexibility to the user to create, edit and share new variables, it helps in research design making the process much simpler. It also enables the user create filters to ensure accuracy and consistency and the new filter can be used more than one time. Sampling This is the process by which opinion of relevant groups of people are garnered to form an idea about the research that is going to be conducted. It also gives an insight about more potential customers who belong to the group that is being communicated with. Sampling distribution is crucial in research and in order to do so an individual has to be well versed with the data (Trainor 2014). As the new variables from other users can also be used, the sampling becomes simpler. The software can make reports that incorporate all data types categorical, numeric, date and time, and text. Collection and Analysis of Data The main purpose of market research is to form an insight about the topic which will further make decision making procedure easy. The collection of data via internet is a much simpler process but it involves skilled and trained individuals to operate it in a systematic way. There are two basic kinds of data analysis qualitative and quantitative. Regression, standard deviation and mean can all be used with the help of applications. Online questioner can be immediately analyzed by the website that is being after the reports are back. Inference has to done by an individual but the calculations and analysis can be done by the websites (Price, Wrigley and Straker 2015). Hypothesis testing and sample size determination is also a lot easier with the help of applications that use internet to help an individual come to a conclusion. There are new software that are being developed which require internet access to make the process easy and error free (Nunan and Di Domenico 2013). The software can create interactive cross tabulations that show focused sample in survey data, and share them with internal or external clients who can use this information to come to a conclusion about the information gathered. It also offers easy input of data and automated table creation, highlighted insights and much more. For more superior tabulation of the data, leverage IBM SPSS Statistics or IBM SPSS Modeler can also be used. Conclusion This is the virtual era and with the modernization and advancement of technology every sector of business has gained positively. Market research process with the help of internet can manage bulk information and can channelize the information gathered to the right place at the right time. The approach towards market survey has completely changed with internet it has evolved the data collection and analysis process. Internet usage helps in the creation of effective marketing mix, collection of real time data and also facilitates the work on a day to day basis. References: McQuarrie, E.F., 2015.The market research toolbox: a concise guide for beginners. Sage Publications. Malhotra, N.K., Birks, D.F. and Wills, P., 2013.Essentials of marketing research. Pearson. Poynter, R., Williams, N. and York, S., 2014.The handbook of mobile market research: tools and techniques for market researchers. John Wiley Sons. Norman, D.A. and Verganti, R., 2014. 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