Highlight Upon The Impact Of The Technologyâ€Myassignmenthelp.Com

Question: Discuss About The Highlight Upon The Impact Of The Technology? Answer: Introduction The aim of the current report is to discuss about the importance and impact of technology in marketing research activity. With the fast changing world of business environment, it is important for all organization to collect the latest data in order to prepare the marketing plan. There are various effective tools and methods that are related to marketing research activities and it help to increase the level of accuracy of the marketing research. The conclusion that is drawn from this report will help the ResMarket Pty, which is the Sydney based marketing research firm to implement the application of Technology India investigation work. Hence, it will be possible for them to improve the data collection and analysis procedure. Advanced research method of marketing with technology As the scenario of business environment in the current days are undergoing Rapid change, it is only with the help of latest relevant data that are collected in huge amount that makes it possible for the marketing researchers to make better prediction (Winer and Neslin 2014). It is important to modify the marketing research method that is an essential part of Technology implementation. It is also important to modify the data collection and analysis plan in order to make best use of the implication of Technology. There are also different methods used in sampling of the market size. According to Norman and Verganti (2014), the method of online survey is believed to be the best effective techniques that are used by current day market researchers in order to collect maximum amount of data from the given sample size. The various online portals and platforms like the social media websites are few of the popular places, from where data from the online survey can be collected. Babin and Zikmund (2015), have mentioned that one of the major advantage of this online process of Data Collection is that it can help to save huge amount of time and expense that he is usually in the case of manual process. This is mainly possible due to the fact that the result is obtained automatically with the help of the coding software. The survey can also focus upon a larger size of target audience. It is also important to mention that the entire process of Data Collection is done automatically with the help of latest software that can help to store the data for further analysis. This sig nificantly reduces the chances of errors, which the surveyors have to encounter during the process of manual data collection. The online portal for the server can be accessed by the participants in any time. This provides them with the opportunity of providing better opinion about the subject area of marketing research. According to Henseler et al. (2016), high level of accuracy is one of the major advantages of the online survey method. As the market researchers can focus upon larger group of audience, it is possible for them to provide better accuracy results that are used in making advanced level of business plan. There are chances in many cases, where in the manual form of data collection, there is a chance of information being unethically manipulated by the surveyors. This can normally be avoided in the case of electronic forms, as it is possible to implement the monitoring process. Hence, there is high chance that the result of the research work will be neutral and completely reliable for further reference. The cost efficiency is another major advantage of the online survey. The overall cost that is involved in the process of printing the survey forms can be saved (Neuhofer et al. 2014). Advanced form of Data Analysis The tools and software that are used in the process of data analysis are believed to be one of the better ways that technology can help in the work of marketing research. SPSS, SAS and JMP are few of the popular forms of data analysis software that are used by the market researchers in order to deal with the complexity involved in the process of data calculation and processing. These commercial forms of the data analysis software are mainly used on in both quantitative and qualitative forms of data analysis that is aimed to provide better result of the data that are being collected in the overall process (Huang et al. 2016). There is also the chance of having to maintain high level of flexibility of data that are being processed. This will allow the market researcher to analyze the wide range of data that are being collected from wide groups of audience. Coding of the data is also possible that can be used in the process of identifying any particular parameter of the marketing terms. The coded section of the database of the marketing research can also extract for the purpose of making business plan. This can provide access to the project managers to use all forms of information. There is a significant chance that the data that has been collected in the overall process can have fake or irrelevant data. The coding software of the data analysis can identify the irrelevant data and hence is able to provide better and accurate result of the research (Mittelstaedt et al. 2015). Conclusion It can be said in the concluding note that the better level of accuracy and the high level of cost efficiency are the major advantages and impact of technology implication of the marketing research. With the fast changing scenario of the marketing environment, the use of the data analysis and coding software can help to save huge amount of time that is necessary in the overall process of business plan implementation. Hence, it is highly recommended for the ResMarket Pty to modify the overall process and activities related to the marketing research that can help them to make most use of the technology within the market investigation. System building process is one of the important components of Technology application in marketing research. It is essential to develop the overall business portfolio and infrastructure in order to make best use of the opportunity that is being provided by technology in including data analysis software. It is also essential to have proper distribution channels in the market, where the technology can be implicated in order to collect relevant data. Proper training should also be given to the market researchers to make best use of the available technological infrastructure. It may be the fact that the initial cost of setting up the technological infrastructure is high. Nevertheless, in the long run operational process, this can help the market research firm to save money. 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. 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