The job of a market researcher is to help companies use the right information to reach the right people at the right time in order to sell their product or service.
The data gathered by a market researcher can include consumer demographics, preferences, needs and buying habits as well as information on consumer attitudes towards competitors' products or services. They may also examine consumer behavior in relation to advertising campaigns or products.
Before you get started on your market research career you need to learn about marketing research methods, such as:
How to choose between different marketing research methodologies; How to develop a questionnaire or survey design; How to design a survey question; How to analyze survey results; The pros and cons of each method; How to create an effective report from the study; What is the most appropriate way to present results and How to prepare for a presentation.
Market Research Analyst Job
Many market research analysts use software such as Microsoft Excel to tabulate, analyze, and export data. They may also create tables, graphs, and maps to present the data in a clear, easy-to-understand format. They work with databases to store and organize large amounts of information.
They also use more modern technologies such as online survey tools and social networking sites.
Market research analysts often work in a team with other members of the marketing department, including product managers, advertising specialists, and designers. In some cases, market research analysts may be involved in all aspects of the customer-contact process for a specific product line.
In the most sophisticated markets, companies want to make sure they're not just selling products to people who don't need or want them. They want to market their products to people who don't yet know they need them but will, once they find out or people who currently need or want them. Companies are also interested in finding out which of their products are selling better than others and which ones have been losing sales. They may want to know whether prices have gone up or down or whether their advertising is working. They'll want to know about competitors' new products and pricing, changes in consumer attitudes and behaviour, or shifts in government regulation.
Market research analyst is a highly specialised job, with a changing skill set. The skills and knowledge needed depend on the type of data the company collects.
