Technological Impact of ResMarket Pty †MyAssignmenthelp.com

Question: Disucuss about the Technological Impact of ResMarket Pty. Answer: Introduction The use of the technological advances has helped the ResMarket Pty in getting a better hold of the markets in an appropriate manner. The main challenges for the company in the present situation are that they need to understand the chain of supply in an efficient manner so that the company can earn better profits within the market place. The advanced technological usage that is present in marketing will help the company in uplifting its profit-making situations so that the surrounding environment of the company can become competitive. A large number of industries have shown that the globalization effect have helped in increasing the use of technologies that are advanced in nature to make the environment competitive. This has helped the company in conducting the market research in an efficient manner (Armstrong et al. 2015). Technological marketing The technological advances that have been used in the external and the internal environments of the business will help ResMarket Pty in understanding the market segmentation in a better manner, which will help them in identifying the target market for the sale of the products and services in an organized manner. The managers of the particular company can get detailed analysis of the risks and the challenges that may lead to the failures of the products and the services in the market place. It also helps them in analyzing the dangers of the rivalry that are present with the rival company so that the strategies inmarketing can be improved (Babin and Zikmund 2015). The process of innovation will help the managers in understanding the strategies that will help in the success of the products and the services, which will help in delivering better products so that it can satisfy the customers. The decisions regarding the marketing of the products and the services will be better with the use of the advanced technologies by the company. With the help of these technologies, the company will be able to store the datas and organize better sessions that are interactive with the customers of the products and the services. The company will be able to increase its flexibility with the use of these better technologies so that it can attract the customers and their demands can be met easily (Johnston and Marshall 2016). Strategies for the firms The usage of the electronic processes that are present in marketing research will help in satisfying the customers, as ResMarket Pty will be able to get a better grip of the demands that are present within the market. With the use of the advanced technologies, the company will be able to gain an advantage from the viewpoint of competition so that it will help the company in analyzing the macro environments that are present within the market place. The use of the advanced technologies will help the company in getting international recognition so that they can attract the customers that are based on a global manner as well. Due to the advantages that are present in adopting the technological advances, the company has proved to be effective and efficient within the region of its operation (Ross 2016). Segmentation of market based on technology With the increase use of the e-commerce facilities that are available, ResMarket Pty has been able to identify the market segmentation so that it can help them in achieving a better position with respect to competition in the market. The technological applications by the company have enabled them to understand the target market and apply the marketing mix in an active and participative manner, as the valuable feedbacks from the customers helps them in designing the products in an appropriate manner. The use of geo-demographic models of software has helped the customers in mapping and analyzing the customers who are specific to a particular market, which has enabled the company to sell their products efficiently (Sekaran and Bougie 2016). The company will be able to improve their experiences with the customers, as the technologies will help them in understanding the feedbacks that are being provided by them. The company with the help of technological advances will be able to identify the target markets so that the products and the services will be beneficial for the customers. Promotional activities through mix marketing The expenses that are related to promotions will help the company getting a better understanding of the performance that they are carrying out in the market place so that the development of the company can be carried out in an efficient manner. Themarketing strategies help in influencing the goals and the strategies of the company with the use of the technologies that are present in the market. It also enables the company to design the programs and chalk out the action plans that need to be followed by the company (Laudon and Laudon 2016). The internet usage helps the company in integrating and enhancing its promotional mix based on which the company can survive within the market place. The technological impact will help the company in analyzing and designing the elements that are present in the marketing mix, which will be beneficial for the products at every stage of the product life cycle. An appropriate example for this would be the methods of personal selling and the promotional techniques of a particular method during the declining stage of its life cycle so that the product can be sold in the market again in a better way. The interactiveness between the customers and the suppliers will increase with respect to the products due to the use of the advance technologies (Xiang, Magnini and Fesenmaier 2015). Technology driven market research The technological usage with the help of internet will help in collecting the information from the market so that the company can benefit by providing better quality goods and services. The tools that are efficient for researching the market will help in examining the web platforms of the competitors so that the company can have a better understanding of the products that are sold by the rival company (Strauss 2016). Conclusion Therefore, it can be concluded that the advances in technology will help in creating a positive impact on the techniques that are available for market research so that the products and the services can be made according to the customers. The technological advantages will help ResMarket Pty in gaining better competitive environment than the rival company gain. References Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015.Marketing: an introduction. Pearson Education. Babin, B.J. and Zikmund, W.G., 2015.Exploring marketing research. Cengage Learning. Johnston, M.W. and Marshall, G.W., 2016.Sales force management: Leadership, innovation, technology. Routledge. Laudon, K.C. and Laudon, J.P., 2016.Management information system. Pearson Education India. Ross, D.F., 2016.Introduction to e-supply chain management: engaging technology to build market-winning business partnerships. CRC Press. Sekaran, U. and Bougie, R., 2016.Research methods for business: A skill building approach. John Wiley Sons. Strauss, J., 2016.E-marketing. Routledge. Xiang, Z., Magnini, V.P. and Fesenmaier, D.R., 2015. Information technology and consumer behavior in travel and tourism: Insights from travel planning using the internet.Journal of Retailing and Consumer Services,22, pp.244-249.