Market Research and Career
Opportunities in marketing research are global in nature and call for a rich understanding of market culture and quantitative approaches. Market research is considered to be the fastest growing occupational categories today.
Market Research is the gathering of information concerning consumers' opinions, tastes, needs and desires. This data is compiled through a variety of methods and then used by companies to decide what types of products and services fit the demands of the public. Information gathered from market research also helps companies decide how best to package and advertise their products and services and help determine precisely who the companies' target markets are. Market research analysts perform the day-to-day work of the marketing research industry.
Market Research attempts to understand why we buy a particular product or service. Consumers are becoming more demanding and markets for products and services are becoming increasingly competitive. Businesses at this stage require a sophisticated marketing intelligence. A Good market research is critical for businesses to study markets and marketing strategies for new products and services. It also provides data needed to maintain market share and sales volume. Our choices of products and even our attitudes to political and social issues, like drunken driving – are evidences of successful marketing strategies.
Nature of work
Market or Marketing Research Analysts are concerned with the potential sales of a product or service. They analyze statistical data on past sales to predict future sales. They gather data on competitors and analyze prices, sales, and methods of marketing and distribution. Market Research Analysts devise methods and procedures in obtaining the data they need. They often design telephone, mail, or Internet surveys to assess consumer preferences. Some surveys are conducted as personal interviews by going door-to-door, leading focus group discussions, or setting up booths in public places such as shopping malls. Trained interviewers, under the market research analyst’s direction, usually conduct the surveys.
After compiling the data, market research analysts evaluate them and make recommendations to their client or employer based on their findings. They provide a company’s management with information needed to make decisions on the promotion, distribution, design, and pricing of products or services. The information may also be used to determine the advisability of adding new lines of merchandise, opening new branches, or otherwise diversifying the company’s operations. Market Research Analysts might also develop advertising brochures and commercials, sales plans, and product promotions such as rebates and giveaways.
Survey Researchers design and conduct surveys for a variety of clients such as corporations, government agencies, political candidates, and service providers. They use surveys to collect information that is used for research, making fiscal or policy decisions, measuring policy effectiveness, and improving customer satisfaction. Analysts may conduct opinion research to determine public attitudes on various issues, which may help political or business leaders and others assess public support for their electoral prospects or social policies. Like Market Research Analysts, Survey Researchers may use a variety of mediums to conduct surveys, such as the Internet, personal or telephone interviews, or mail questionnaires. They also may supervise interviewers who conduct surveys in person or over the telephone.
Survey Researchers design surveys in many different formats, depending upon the scope of research and method of collection. Interview surveys, for example, are common because they can increase survey participation rates. Survey researchers may consult economists, statisticians, market research analysts, or other data users in order to design surveys. They may also present survey results to clients.
Market Research: Skills & Talents
Market Research is the gathering of information concerning consumers' opinions, tastes, needs and desires. This data is compiled through a variety of methods and then used by companies to decide what types of products and services fit the demands of the public. Information gathered from market research also helps companies decide how best to package and advertise their products and services and help determine precisely who the companies' target markets are. Market research analysts perform the day-to-day work of the marketing research industry.
Market Research attempts to understand why we buy a particular product or service. Consumers are becoming more demanding and markets for products and services are becoming increasingly competitive. Businesses at this stage require a sophisticated marketing intelligence. A Good market research is critical for businesses to study markets and marketing strategies for new products and services. It also provides data needed to maintain market share and sales volume. Our choices of products and even our attitudes to political and social issues, like drunken driving – are evidences of successful marketing strategies.
Nature of work
Market or Marketing Research Analysts are concerned with the potential sales of a product or service. They analyze statistical data on past sales to predict future sales. They gather data on competitors and analyze prices, sales, and methods of marketing and distribution. Market Research Analysts devise methods and procedures in obtaining the data they need. They often design telephone, mail, or Internet surveys to assess consumer preferences. Some surveys are conducted as personal interviews by going door-to-door, leading focus group discussions, or setting up booths in public places such as shopping malls. Trained interviewers, under the market research analyst’s direction, usually conduct the surveys.
After compiling the data, market research analysts evaluate them and make recommendations to their client or employer based on their findings. They provide a company’s management with information needed to make decisions on the promotion, distribution, design, and pricing of products or services. The information may also be used to determine the advisability of adding new lines of merchandise, opening new branches, or otherwise diversifying the company’s operations. Market Research Analysts might also develop advertising brochures and commercials, sales plans, and product promotions such as rebates and giveaways.
Survey Researchers design and conduct surveys for a variety of clients such as corporations, government agencies, political candidates, and service providers. They use surveys to collect information that is used for research, making fiscal or policy decisions, measuring policy effectiveness, and improving customer satisfaction. Analysts may conduct opinion research to determine public attitudes on various issues, which may help political or business leaders and others assess public support for their electoral prospects or social policies. Like Market Research Analysts, Survey Researchers may use a variety of mediums to conduct surveys, such as the Internet, personal or telephone interviews, or mail questionnaires. They also may supervise interviewers who conduct surveys in person or over the telephone.
Survey Researchers design surveys in many different formats, depending upon the scope of research and method of collection. Interview surveys, for example, are common because they can increase survey participation rates. Survey researchers may consult economists, statisticians, market research analysts, or other data users in order to design surveys. They may also present survey results to clients.
Market Research: Skills & Talents
