JWS Research is an independent, privately owned Sydney-based marketing research
ID: 434187 • Letter: J
Question
JWS Research is an independent, privately owned Sydney-based marketing research consultancy. The company is considering new technologies in order to enhance their marketing research capability and provide a more efficient and accurate service for their clients. The client base of JWS currently includes ACT Government, Cancer Institute NSW, Government of South Australia, and Gold Coast Airport. JWS intends to join the early- adopters of data analytics technology users with the major source of data being social media. JWS has no detailed knowledge of how this technology works and have asked you to prepare a report entitled: “The impact of technology on marketing research in today’s business environment.” This report should be addressed to the Executive Management Team of MRC. The aim is to identify what the company stands to benefit if they adopt these new technologies and try to persuade the Executive Team to make a decision to do so.
Explanation / Answer
The impact of technology on marketing research in today’s business environment
Technology play vital role in Marketing research. Technology helps in reducing time required to conduct market research and enhance quality of research. In olden days marketers used to collect data over phone, mail and face to face but now due to advancement in technology researchers are able to collect data through social media and various other plateforms which as turned out to be highly reliable source.
Technologies aiding market research
There are various tools which helps market researcher to improve his report for example social medias like twitter, face book, instagram etc which act as rich source of data from which data can be extracted economically and meaningfully. The data obtained from this sources are highly accurate which enhances quality of research paper. Since this data is already present to reduces time to collect data which aids in preparing report instantly with less efforts.
The next step in market research is analysis of data. In this step too technology plays a vital role. There are many tools like SAS, R which helps in cleaning and analyzing data efficiently even when size of data is enormous.
After collecting and analyzing data the next step is to present data to audience. In this step to technology plays a vital role. There are visualization tools like tableau which helps in better visualization of data. This helps in communicating intension of research paper effectively.
Besides this there are many emerging technologies like biometric, GPS technologies for live tracking, predictive analytics, neuroscience which all are aiding to improve quality of research.
Advantages:
Besides this adoption of social media analytics helps us in better servicing of our clients. Our clients like government of south Australia, ACT government and gold coast airport might be interested in various data available in social media like response to various social welfare benefits offered by government, feedback for quality of services offered by airport, areas of improvement etc.
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