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.
Monitoring and forecasting marketing and sales trends
Measuring the effectiveness of marketing programs and strategies
Conducting research on customers’ opinions, buying habits, preferences and wants/needs
Devising and evaluating methods for collecting data, such as surveys, questionnaires, and opinion polls
Providing input into developing and modifying systems to meet client needs
Developing business specifications to support these modifications
Gathering data about consumers, competitors, and market conditions
Studying the competition’s prices, sales numbers and methods of marketing and distribution or provide trainings to the junior sales executives
Analyzing data using statistical software and data driven-tools
Preparing reports and presenting results to clients and management
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.
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A market researcher and analyst will be using their strong analytical skills to convert raw data into actionable insights and trends for their clients’ business.
It iss necessary for market researcher and analysts 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 a 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 the 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.
Scientific/Technical Services
Finance and Insurance
Education Services
Communication Industry
Wholesale Trade
Company and Enterprise Management
Amazon
Google
Wipro
Flipkart
BYJU’S
Myntra
Unilever
NDTV
Robert Bosch
IBM
Futures First
Frost and Sullivan
Tata Consultancy Services
