We
are living in the era of digitalization where technology is changing our life continuously.
We are using more technology to do our daily work instead of using human
activity. As a marketer and in the field of market research, technology is playing very vital
role to put significantly impact on how market research was conducted and now
how market researches is conducting by companies. We need to understand that
how technologies change? And how it will put influence on market research purpose?
As
I see it, the world of marketing and market research is changing according to
changing in technology like the world of marketing and market research can be
also known as now the world of mobile. It’s not the digital transformation. Innovation
is mobile industry is old but it is actually leading us into the future of
marketing and market research. In the world we can see the developing power of
mobile. If you ask anyone how many you look at your mobile in a day? People don’t count it but according to
research firm Dscout, typically users touch their phone 2617 times every day (Research Link) for everything like texting, checking emails, calls and social media usage. First
thing we can notice that mobile surpassed desktop in few years and there is no
turning back to desktop now. Users are more comfortable with the usage of
mobile. Why mobile usage is important
and why it is importance channel through which we can deliver the message.
How mobile
has been used?
- Emails now open
on mobile devices.
- Majority traffic
on websites comes from mobile devices.
- The fastest growing ads format on mobile devices.
Now
researchers should be there where respondents are. Few years before research
were conducted through landlines but now it is upgraded and research conducted via
mobile. Now for many companies mobile marketing is core to their business. If companies
are not focusing on mobile marketing, they should implement the mobile
marketing strategies because of its increasing ratio in marketing competition
of ads.
Technologically
advancement is giving the ability to the people to do things that they couldn’t
do before without hiring others. Market researchers are facing competition with
corporate or freelancer researchers who have little or even some researcher who
have no formal research training and used different online tools to conduct
their research that’s why sometimes brand fly with success because they get winner
quality of research.
Big
data is very important for the research purpose. Big data and machine learning
will give some relaxation to market researcher from much of the tedium of data
collection and inquiry of human behavior on their answers. Human decision
making process is not purely logical and rational. Some of emotional
attachment, price perception and loyalty is also play vital role to make
decision of purchase particular brand.
How can market research
successfully adapt:
- Firstly, realize
the importance of changing in technology is also affecting the market research
industry and researchers need to adapt it as soon as possible to survive in the
market.
- There should be
a person who play the role of data scientist because in digital world, big data
is very important, that person should understand the mountain of data and
provide actual insight about product, marketing, sales, customer service and
customer behavior.
- As group of
peoples who should share their personal interest in research field to find out
the behavior and thinking of the consumer. These experts can provide the actual
condition of the market and provide the insight of consumer need and also
determine the competition research how we can over take them and put a foot
into execution and implementation.
- The hybrid is
the market researcher who combines elements of the data scientist and group of
expert on one hand and all the marketing services on the other hand. By which
they can easily identify the right things and wrong things in the marketing
services. The hybrid researcher will have the capability to provide the insight
that should be implemented immediately hybrid can also apply biometric and neuroscience
into their work through which they can have more focus on the market research
and they will understand the outcome of the market research and develop the
execution plan for marketing campaigns.
- The insight guru should be there who will different from all research because their work is to go into deep of the research use the analysis of data scientist and insight of expert then develop the more deeper insight. The insight guru should be well trained and versatile in the new market research.
Market
research for companies has a big future to survive in the market. Many new
products are coming in the market. Each and every company is doing their
research before starting the production of product. They also do research
before launching the product and after launching the product. A large number of
numbers are maintaining their database for the objective of research. In market research there is many things that
can be understood like cultural trend, environmental factors, social media
trends, customer preference, product testing, brand awareness, brand usage, purchase
intention. In the next blog I will be focusing on the topic how brand use the
market research to capture market share.
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