Market Research job description

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Description - Skills - Education - Trends

Those working in market research positions are an integral part of corporate strategy and the decision making process in numerous types of industries and organisations. Job holders in this field are commissioned with investigating the marketplace before proposed products or services are launched to determine the viability of the investment
There are numerous job titles in this field and each will have unique duties. However, all job holders will aid with the collection, organisation and analysis of market data, which is typically collected via surveys and interviews or other types of polls. Conclusions are often made with the aid of statistical software.
Each position will have its own unique set of requirements, though generally a Bachelors degree in marketing is a minimum and a Masters is highly desirable. An educational background in mathematics or accounting may be appropriate for analysts and some other professionals in the field
Market research professionals in the United Kingdom typically see salaries ranging from £18,000 to £50,000 per year. Remuneration in this position is heavily coordinated with experience; figures in excess of £40,000 a year are typically awarded to those with at least five successful years in the field.

Description

A Market Researcher is responsible for collecting and analysing important market information for a company. They work for charities, governments, businesses and specialist research agencies. Market researchers collect consumer’s opinions and create reports for further improvements related to economic, political and social decisions. They specialise in only one area such as social and consumer research.

Market Researchers usually perform the following tasks:
• Undertaking researches.
• Moderating focus groups.
• Writing reports.
• Advising improvements.
• Meeting with clients to agree projects.

Skills

• Having excellent interpersonal skills.
• Being able to work under pressure.
• Being able to handle large quantities of information.
• Being flexible and creative.
• Having competent IT skills.
• Having interest in behavior and psychology.
• Being able to work with a team.
• Having good problem solving abilities.
• Having competent math skills.
• Being able to clearly see patterns and trends.

Education

There are no specific academic requirements to be a Market Researcher, but it is necessary to have confidence, friendly manners, interpersonal and analytical skills as a minimum. It is recommended to have studies related to statistics, math, business studies, and economics for some job placements.

A great advantage for this business is to have relevant market experience related to statistics, economics, advertising or math. The Market Research Society has a range of qualifications related to training for this area. These courses include areas such as survey design, research, data collection methods, ethical issues, data analysis and information.

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