Identify the significant changes taking place in today's business environment that are forcing management decision makers to rethink their views of Marketing Research.
Desirably, marketing research can be classified or defined as the collection of any facts relevant to a marketing decision. But to be more specific and accurate to the definition, It can be defined that Marketing research is, "The systematic collection, analysis and interpretation of information relevant to marketing definitions", (Hague, Hague & Morgan, 2004 p.11). The word "marketing research" in today's business environment was not as trendy as it is now. There are a few significant changes that have maybe changed this scenario. The few changes that would be mentioned would be in terms of Technology, Globalization, Competitor advancement and the Social economy.
The emergence of IT in the business world has really brought the view marketing research into a different perspective. Marketing research used to be dominated by large companies who hired a large number of people, equip them with pens, clipboards and set them free to the general public to be interviewed face-to-face(O'Connor & Galvin 2001, p.39).
But not anymore, as IT has revolutionized the process by which the marketing research is conducted. Marketing research was not as popular in the olden days as it is today because technology was not as advance as it is now and all the work would have been done manually, which takes time, and money. Data collection in those days were tough, the employees would have to fight the heat and rain to collect these meaningful data. But with the emergence of IT, your data will just be a click away. Now, they have even invented the CAPI (Computer Assisted Personal interviewing), and the CATI (Computer Assisted Telephone Interviewing), which are done by computers (O'Connor & Galvin 2001,