Page 136 - Foundations of Marketing

Marketing Research and Information Systems | Chapter 4 103

Using Technology
Amazon and other online retailers
have developed technology that
makes recommendations to a
customer for books or movies
that he or she might like based
on prior purchases.

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The report is usually a formal, written document. Researchers must allocate sufficient time
when they plan and schedule the project for compiling and writing it, since this task can be
time-consuming. Report writers should keep in mind that corporate executives prefer reports
that are short, clear, and simply expressed. To address this desire, researchers often give their
recommendations first, in an executive summary, followed by details on how the results were
obtained. This way, executives can easily see the results of the report without spending time
on the details. A technical report allows its users to analyze data and interpret recommenda-
tions because it describes the research methods and procedures and the most important data
gathered. Thus, researchers must recognize the needs and expectations of the report user and
adapt to them.

USING TECHNOLOGY TO IMPROVE LO 4 . Understand how technology
is used to facilitate information
MARKETING INFORMATION GATHERING gathering and analysis.

AND ANALYSIS

Technology and the Internet have made the information required for marketing decisions more
accessible than ever. Marketers can easily track customer buying behavior, obtain detailed
demographic profiles, and anticipate what buyers want—making it possible to fine-tune mar-
keting mixes to satisfy customers. Information technology permits for easy internal research
and quick information gathering to help marketers better understand and satisfy customers.
CRM has been enhanced by the ability to integrate and access data from all customer contacts.
Consumer feedback is an important aspect of marketing research, and new technology has
enhanced this process. Most consumers read online product reviews on a myriad of sites, from
Amazon to Yelp!, when making purchase decisions. While this represents a tremendous oppor-
tunity for firms to generate new customers, they must also be aware of fake product reviews
and the potentially negative effect they can have on consumer perception. Increasingly, too,
while consumers utilize product reviews, they are also wary of them; companies recently
have been found guilty of paying people to write positive reviews of products and services,

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