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MRKT - Research Paper Example

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Project 7. The world in the 21st century is evolving at a very first pace. It is important to mention that the rapid pace of evolution is happening because of first change and tremendous development. The emergence of various kinds of technological advancements has played a major and catalytic role in the process of communication as well as the methods of doing business all over the world…
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MRKT

As a result of this revolution, the world has been automatically transformed into a single well connected global entity. It needs special highlighting of the fact that the technological revolution that has affected both the developed as well as the developing markets has brought a tremendous change in the nature and behaviour of the masses around the world. The consumers and masses of the present day increasingly prefer to live a dual life. This dual life promotes physical presence in the real world as well as virtual presence in the internet connected world. In order to stay connected to their virtual selves in the virtual world, the masses prefer to use various smart technology devices like Smartphones, I-pads, tablets. It is highly interesting to mention that the intense acceptance and usage of the technological devices has resulted in enormous acceptance of the multiple social networking sites. From the marketing point of view, it has to be said that for the purpose of better communication of value to the customers as well as the target audience, creation of relevant product which will satisfy the needs existing in the market is of tremendous importance. For the purpose of acquiring knowledge and needs of the masses, it becomes highly essential on the part of the marketers to engage in the process of market research. Recognizing the trend of the young consumers to stay online for a considerable part of the day as well as night, marketers entitled with the responsibility of communicating the values of various kinds of products and services, are focusing on the process of engaging with their customers through the online platform. The online marketers in order to attract more and more of the online target audience are designing various kinds of interesting web enabled applications which automatically collects and tracks the users data as well as various other relevant specification. Needless to mention that in the bid to browse the highly interesting applications, the online community of consumers ends up revealing a considerable amount of personal data. This essential data is being mined by the data scientists and data experts using the technology of Big Data. However, it has to be mentioned that the needs and demand related to normal products and services is highly different as compared to products and services that belongs to the health care sector. It has to be stated that for the purpose of significant understanding of the attitudes of the public as well as the trends of the consumers in regards to various healthcare products and services, a much specialised kind of research and market survey has to be conducted. While discussing about the various kinds of research data that is often considered by the private as well as government organizations belonging to the healthcare sector, the focus and importance has to be given on health survey data, general consumer based information as well as administrative data which is resulted from multiple health care delivery systems (Goodby and et.al, 15). For the purpose of generation of relevant data, organizations belonging to the healthcare category often collect a lot of data which are generated as a possible by product of various operations of the organization. Now with the fast changing consumer needs and demands, the organizations providing services and products of the health care s ... Read More
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