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A Career in Marketing Research

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Marketing research involves the systematic collection and analysis of data to allow businesses to reduce uncertainties and risks and promote their products and services. With customers becoming more demanding and markets becoming increasingly competitive, sophisticated marketing intelligence has become critical for developing and sustaining businesses. Marketing challenges have made market research a growing industry.

Market researchers use surveys, new product tests, and statistical analysis to help determine what makes people purchase certain products or services. By combining knowledge of how the market works with quantitative data, market researchers find ways for products and services to attain success. As technology continues to improve the process of data gathering and data analyzing, the market research field continues to grow.

Applications of Market Research

Organizations use market research to understand prospective customers, their habits, and their tastes. Researchers also study organizations’ existing customers and their satisfaction levels. In addition, market research is used to study competitors, their products, and their services. Organizations also periodically conduct extensive research on markets.
Market research is used in the areas of FMCG products, consumer durables, industrial products, services, and even charities and government services.

Work Profile of Market Researchers

Researchers often do the following work:
  •  Plan research and analysis methods, often in consultation with experts
  •  Conduct surveys through personal or telephone interviews, go door to door, and conduct focus-group discussions
  •  Gather statistical data on competitors and examine prices, sales, marketing, and distribution methods
  •  Scan and interpret information and determine its relevance to clients’ businesses
  •  Make recommendations to clients based on the findings
Skills of Marketing Researchers

  •  Interest in people and their behaviors
  •  Strong interpersonal skills and the ability to quickly establish rapport with people
  •  Multicultural sensitivity and awareness of social customs
  •  Good interviewing techniques
  •  Business awareness
  •  Computer and technical skills
  •  Analytical ability
  •  Good organizational skills and the ability to meet deadlines
  •  The ability to work with large databases and marketing messages
  •  The ability to synthesize and quickly see the implications and applications of data
  •  The ability to work with IT specialists, statisticians, and surveyors
  •  The ability to draw conclusions, present findings, and make recommendations
  •  The ability to absorb and process vast amounts of data
  •  The ability to detect patterns and discrepancies
  •  The ability to work as part of a team
  •  Integrity when working with sensitive and confidential material
Job Outlook for Marketing Researchers

According to a U.S. Labor Bureau report, market research analysts held approximately 190,000 jobs in 2004, and their median annual earnings were $56,140. Candidates with Ph.D.s or masters degrees in marketing or related fields had the best job opportunities.
On the net:Market Research

Market Research Careers, Jobs, and Training Information

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