As a market researcher or analyst, you analyse market conditions and study the demand and sales of products and services. You will provide advice to companies to decide what to produce and how to sell it in the market.
Market researchers monitor and predict current and future market trends. They conduct surveys and collect data in order to analyse the market trends and interpret these figures to the company. Another important duty or responsibility is to analyse the current marketing and sales patterns of the company and recommend new strategies if changes are required.
You can take any stream at +2 level but taking commerce stream is preferred as it may give you a proper orientation towards the field.
You may pursue a bachelor’s course in Economics/ Statistics or Maths or take a BBA/ B.Com degree. You can also pursue B.Sc Marketing (Hons) or other Marketing Specialization degrees or Diploma in Marketing.
Masters in Business Administration or Masters in Marketing Research, which spans for two years, can be taken up after graduation.
Requirements for admission into a PG course in one of the top institutions to help you get an overall picture
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A market researcher and analyst will be using their strong analytical skills to convert raw data to into actionable insights and trends for their clients’ business.
Its necessary for market researcher and analyst to possess strategic thinking skills as they need to understand how other people think and behave,thus to predict their needs.
A market researcher and analyst should have good oral and written communication skills as their job is to effectively communicate with the research subjects either through interviews or quantitative surveys. They also need to present their analysis to clients in a well documented, actionable, and visually attractive report that helps the clients to make informative decisions.
A market researcher and analyst will be meeting variety of people while conducting interviews and focus groups. They need to make sure that research subjects feel comfortable and relaxed when they are with them as there is a possibility that their answers might be different if they feel under pressure during interview.
A market researcher and analyst will be striving to find insights based on critically evaluating the facts and data they collect not on pre-informed opinions or societal stereotypes.
Market research analysts must be detail oriented because they often do precise data analysis to decide market trends.