Technological Innovations Influencing Data gathering and Analysis
Web Enabled Smart Phones
A variety of a number of technological innovations have garnered attention in the area of marketing. Key among these developments is the advancement in the mobile telephones (especially Web-enabled smart phones) and tablet computers. These innovation have overwhelmingly made organizations to explore on the feasibility of equipping respondents with such devices to ensure permitting frequent measurement in-the-moment. These innovations make it possible for the measurement of frequently engaged-in behaviors (for instance, use of time, social interactions, and expenditures). The market researchers and behavioral researchers (health researchers, psychologists and behavioral economists) are interested in the enormous potential these innovations exhibit (Rajagopal, 2009).
Among the key challenges of using mobile research (as a type of survey measurement) is the difficulty of identifying representative samples and retaining and recruiting panel members. The work which involves mobile data collection today has been based on small groups of volunteers, nevertheless efforts are underway to ascertain the feasibility of mobile data collection. Younger cohorts are increasingly applying the use of smart phones instead of the traditional Web browsers for the Internet-based marketing activities and there is need to address such challenges in relation to the mobile phones revolution in future. It is of great use to explore the possibilities brought about by the use of mobile phones in marketing within the context of Innovation Panel or even to measure the behaviors in relation to the changing patterns of mobile telephony and internet use with a view of capturing future exploration.
Another innovation for exploration by the markets is the development is the use of social media such as Twitter and Facebook.Online social media has produced enormous quantities of what Groves (2009) describes as “organic data” (rather than “designed data” –the product of surveys) and these data are increasingly being mined in the exploration of societal trends. The use of such organic data tend to produce trends on a much more fine-grained timescale and on a more selected population which would be useful in enriching the marketing research undertakings.
Moreover, social media are used for the tracking of panel members. Social media is also used in keeping in contact with the panelists, though, this raises ethnic questions. For instance, if a Facebook page is created for a survey, the panel members might identify other members of the panel. A good marketer should acknowledge that these trends of great essence monitoring, even though they are unlikely to impact substantially in terms of efficiency benefits in the short to medium-terms.
Computer-Assisted Telephone Interviewing (CATI)
This is a surveying technique which enables the interviewer to follow a script of questions which are provided by a software application and asks the questions to the respondent at the other side of the line. The developed countries conduct much of their statistical surveys by phone. The method has proved to be a feasible one among the developed countries virtually for the entire population or rather for at least a statistically representative sample has been reachable by phone (Rajagopal, 2009). It has been increasingly possible to apply phone surveys even in developing countries since there is a speedyincrease and ubiquity of mobile ownership.
The advantage of deploying CATI is that phone surveys makes it possible to administer surveys to geographical samples in a quick and cheap way than the use of traditional field interviews. The method also skips the data entry stage since the answers are captured electronically.
Market segments focusing on use of technology
Markets might segment in accordance to geographical criteria –states, nations, countries, cities, postal codes, and regions. The aspect of geo-cluster approach give a combination of geographic data and demographic data in order to create a more accurate and specific profile.
This segmentation separates the consumers into groups in relation to their usage rate, knowledge of, loyalty status, and attitude towards a product. Marketers bank on the fact that behavior variables are the best standards for composing market segments (Cherry et al., 2011).
How Technology has Affected Consumer’s Decisions
Marketers have explore on the use of print media to convince consumers to purchase things. The print media was a widely used technology before the evolution of computers in printing advertisements in form of magazines, fliers, newspapers and billboards ads as the only means of disseminating information to the consumers. Thus, the print media influenced consumer decision making.
The advancement in banking system has also influenced the way consumers make decisions on products and services. The advancement in handling money, how it is distributedand exchanged give opportunities to consumers to buy and access products and services more easily than in the past (Groves, 2011). The use of debit cards, credit cards and other online payment services, consumers can purchase products at any time.
The digital media through its internet platform has a major contribution towards decision making among the consumers. Smart phones enable consumers to access the internet and find information for reliable sources about the service, product or organization they want.