Name: Tianyu Shen

Module 4: Market Research and Innovation 

The article Innovation has finally arrived in marketing research by Lamar, Brian

talks about how innovation is being utilized in the marketing world. The article highlights

how innovation has made modern day consumers be able to shop and explore the market

without moving a single inch. In the contemporary world, brands are able to make the

decisions faster. Automation can now be used to connect various systems, quick transfer

of data and while at the same time able to survey the consumer base and conduct targeted

advertisement. Business can now pull insights from various social media platforms, and

utilize the information to make a sustainable marketing strategy. According to the article,

despite the tremendous progress, there exist challenges associated with innovation. Some

of the challenge sis resistance to change, user errors and the inability to understand

market research principles.

From the article, it is apparent that the modern world market environment is

determined by the level of innovation an organization embraces. Organization that are

able to utilize advanced and sophisticated strategies will be able to perform better in the

market environment. In the modern market space, what determined the success of a brand

is its level of innovation. The article also managed to address some of the challenges

facing innovations. This is a crucial aspect since most companies tend to ignore these

challenges and therefore failing significantly. However, what the article failed to discuss

is how the challenges facing innovation can be sufficiently addressed.

 The future of market research is bound to evolve to infinity in future. Use of

social media tools o conduct market analysis will be one of the future strategies that

almost all brands will be utilizing. Arguably, in this contemporary world, most

entrepreneurs believe that social media marketing is one of the most effective marketing

strategies. Advantages associated with Social Media is that it facilitates easier collection

and analysis of data as compered to other conventional methods.

Reference

Lamar, Brian. "Innovation has finally arrived in marketing research - AMA

Cincinnati". AMA Cincinnati, 2020. Online. Internet. 21 Feb. 2021. . Available:

https://amacincinnati.org/innovation-marketing-research/.