Market Research/Analysis

Introduction

Market Research Analysts is referred to as the study of conditions that aids businesses in understanding where their product or services stand. It aids companies to understand and build techniques which can draw leads, people and increase their profits.

The field of Market Research provisions the Market Research Analysts a platform to assess consumer choices with the lieu of assisting organizations to make decisions in matters of how to advertise, conceptualize, and market the products and services effectively.

Analysts leverage different methodologies to gather data. These include surveys, interviews, meeting focus groups and much more. After conducting research, they lay across their findings in the form of graphs, charts, and other visual techniques. These are presented to the executives and clients who gain a better idea about the market and can use the data in developing methods for enhancing sales. It helps them make better decisions regarding the product introductions, marketing campaigns conducted and the modifications made.

The data presented by the Market Research Analysts are evaluated and interpreted by arranging them in the form of tables and reports. The collected data is categorized accordingly so as to deem helpful for the business. The analyses coined by the researchers offer a visual understanding of the industry trends and about the competitors. This will thereby aid organizations to predict how the product or service will perform in the market.

Often MarketingAnalyst Jobs include consulting firms wherein they are hired on a contractual basis. In addition, many others can be a part of their Marketing Research Jobs in many product and consumer firms. There are many industries that offer frequent employment to Market Research Analysts providing them high wages. These include computer systems design services, public relation services, advertising, scientific firms, management firms, technical consulting services and much more.

Responsibilities

Following are the duties required in Marketing Research Jobs

  • Ability to manage and generate analytical models
  • Conduct analysis of consumer preference, needs, demographics and buying behavior
  • Conduct analysis of data for generating qualitative and quantitative conclusions
  • Design new research methodologies
  • Development and implementation of new sampling plans
  • Devise methods and evaluate data collected through Opinion Polls, Surveys and Questionnaires
  • Forecasting product trends for future
  • Collect data on competitors, consumer and market scenarios
  • Hold expertise in building strategies and conducting competitive analysis
  • Assist in determining pricing, demand, and potential markets
  • Aid in marketing products and services
  • Evaluate how effective are the marketing strategies and programs
  • Monitor market trends, conduct forecast of market sales
  • Offer industry benchmarks
  • Hold passion about the strategic analysis and have a deeper knowledge about the subject
  • Convert insights into actions by supporting the initiatives of the company
  • Knowledge of Research methods, statistical concepts, and designs
  • Generate data from dimensional methods

Technical Proficiencies

Below listed are the software enlisted by companies required for MarketingAnalyst Jobs role:

  • Proficiency in MS Office Suite including Microsoft Word and PowerPoint.
  • Experience in handling Basic SQL.
  • Knowledge of Tableau.
  • Statistical Software for Analyzing Data.
  • Know Statistical Software Platforms like SAS, WinCross, SPSS, Market Sight.
  • Experience handling Mobile Research Techniques, Social Media and Online trends.

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