Marketing Strategy of ResMarket Pty-Free-Samples for Students

Question: Discuss about the Marketing Strategy of ResMarket Pty. Answer: Introduction Marketing can be defined as the process in which an organization uses various techniques and tools to create awareness about its products and services among people in the market(Nunan Di Domenico 2013). Nowadays, marketing has emerged as one of the most important functions of management as it directly contributes to the accomplishment of organizational goals and objectives. The present study is based on the ResMarket Pty. which is market research firm based in UK. Further, the selected company has adopted advanced technology to enhance its business practices which are linked with market research. This study explains the impact of technology on marketing research in the modern era. Main Body In the present era, the success of businesses operations and practices relies heavily on the marketing activities. Nowadays, marketing is essential because it supports businesses such as ResMarket Pty to create demand of its services and products among people in the market. In addition to this, marketing also support in enhancing the volume of sales and profitability of a business organization(Slater, Mohr Sengupta 2014). However, it can be critically argued that at present, marketing is no longer an easy task for companies and they are required to place wide range of efforts and resources to conduct the same. Further, marketing managers are required to make changes in overall marketing strategies and plan at regular intervals to attract new customers and retain the old ones. It can be stated that technology affects marketing research in positive the sense. For example technological development such as social media has emerged as the biggest and most potential platform in the world. Platforms such as Facebook, LinkedIn, Google + can be used for conducting market research(Trainor et al. 2014). Questionnaires linked with market research can be easily uploaded on the mentioned-above platforms and relevant information can be easily collected through the same. In addition to this, social media platforms also provide opportunity to collected quick feedback and response which is important in the field of market research. Another impact of technology on market research is that the integration of technology has enhanced the overall process of data collection. In the field of market research, the collection of accurate and reliable data is mandatory for the success of the research. Earlier market research companies were only available with methods such as interview, surveys, focus groups, etc. for the collection of appropriate data. However, the use of technology has helped companies such as ResMarket Pty to conduct quick and cost efficient surveys by making use of different websites and applications. Apart from this, the collection of data was also restricted over the phone the and personal interviews(Poynter, Williams York 2014). At present, technological tools such emails, video calls, online surveys are available for companies such as ResMarket Pty. The collection of both primary and secondary data has now become easy and convenient. For example, to carry out and collected secondary information, the selected business enterprise will not be required to visit a library or go through the physical newspaper(Price, Wrigley Straker 2015). Any secondary information about a particular market or topic can be easily found over the internet. Here, relevant e-book, e-journals and other secondary sources can be taken into consideration by ResMarket Pty for the purpose of collecting secondary data. The benefits of using technology in market research are that it will support the selected business enterprise in carrying out smooth flow of all its business practices and operations. However, it can be critically argued that the company will be required to ensure that the data collected through technology is reliable enough or not(Ross 2016). The rationale behind this is that sometimes people use fake personal information and provides fake information in online survey. It can be a major threat for a market research company such as ResMarket Pty as it can affect the overall quality of research conducted. Technology has also improved the way in which collected data is analyzed by businesses such as ResMarket Pty. In the field of market research, data analysis is also one of the most crucial stages as the results and findings of research is directly affected by the quality of data analysis done. The use of technology in market research will provide the selected business enterprise with a potential opportunity to analyze the information collected in effective and sophisticated manner. It will improve the overall quality of research conducted and thus, will directly contribute in long term success of the business enterprise(Ozkaya et al. 2015). On the contrary of this, it can be critically argued that the use of technology in market research will not be an easy task for the selected organization(Lin Atkin 2014). The company will be also required to conduct training sessions at regular intervals so that skill set and knowledge base of employees can be enhanced. Another major benefit of using technology for a market research company is that technology can play very important role in storage of data. The information and data collected by these companies is considered as very confidential and leakage of the same can affect the overall image of the business enterprise. Sometimes, market research involves collection of heavy data and it is not easy for research companies to manually store the same. Here, technological tools such as Google drive can play important role in ensuring the safety and security of data collected. The use of technology will help the selected market research firm in enhancing its overall operational efficiencies. In addition to this, technology will also assist ResMarket Pty in carrying out effective marketing and promotion of all its services in the market. Conclusion From the above report, it can be concluded that marketing is a very important function of a business and it contributes directly to the success of a business enterprise. It can be inferred that the use of technology in its market research activities will help ResMarket Pty to collect data and analyze the same in best possible manner. The entire process of market research will become cost effective and convenient with the integration of technology. However, the selected company will be required to conduct training sessions so that its employees can have adequate knowledge about the use of technology. References Lin, CA Atkin, D 2014, Communication technology and social change: Theory and implications., Routledge, London. Nunan, D Di Domenico, M 2013, 'Market research the ethics of big data', International Journal of Market Research, pp. 505-520. Ozkaya, HE, Droge, C, Hult, GTM, Calantone, R Ozkaya, E 2015, 'Market orientation, knowledge competence, and innovation', International Journal of Research in Marketing, pp. 309-318. Poynter, R, Williams, N York, S 2014, The handbook of mobile market research: tools and techniques for market researchers, John Wiley Sons, New Jersey. Price, RA, Wrigley, C Straker, K 2015, ' Not just what they want, but why they want it: Traditional market research to deep customer insights', Qualitative Market Research: An International Journal, pp. 230-248. Ross, DF 2016, Introduction to e-supply chain management: engaging technology to build market-winning business partnerships., CRC Press, Florida. Slater, SF, Mohr, JJ Sengupta, S 2014, 'Radical product innovation capability: Literature review, synthesis, and illustrative research propositions', Journal of Product Innovation Management, pp. 552-566. Trainor, KJ, Andzulis, JM, Rapp, A Agnihotri, R 2014, 'Social media technology usage and customer relationship performance: A capabilities-based examination of social CRM', Journal of Business Research, pp. 1201-1208.