Are You Looking For a Career in Market Research?

career in Market Research

“Understanding human needs is half the job of meeting them.” – Adlai E Jr Stevenson  

It is a widespread belief that businesses work on the needs and demands of the consumers. If a business supplies what the consumers demand, there is no chance that it fails in building a wide consumer base. Well, one factor that helps businesses understand this “Demand-Supply” chain, is market research. 

Market research, as the very name suggests, is conducting an in-depth research of the prospective market of a business. A career in Market Research involves understanding the target audience to the core. 

In today’s consumer-driven world, companies need to analyse their consumers’ needs, behavior, buying patterns, and responses. Market research helps firms to understand “what” should they produce and “how” should they present it to the buyers. 

Once the product or service is launched based on this research, the next step involves “feedback”. Feedback implies analysing the consumer response from a marketing point of view and implementing the necessary changes in the product. From the ideation, to the packaging, and from the product design to the advertisement, a career in market research covers it all.

If you are looking for a career in market research, then this blog is just for you! AllAssignmentHelp.com brings to you this blog which explains all you need to know about a market researcher career. So, let’s dive in!

When Should You Choose a Career in Market Research?

  • If you are a person who has a curious mind and wants to understand the “why” and “how” of everything, then market research might be the right career for you!
  • If you are confident about your skills in collecting, organising, and interpreting data, then this career is a right fit! 
  • A market research professional breaks down a product or service to its core. Meaning to say, the 5Ws (what, who, where, when, why) and 1H (how), of the output need to be understood well. A good way to evaluate whether you possess this quality or not, is to remember your school or university projects. Ask yourself “were you able to analyse the 5Ws and 1H of your topic”? If yes, then you probably have an analytical mind. This is a green sign to go ahead with marketing research.
  • The quality of research is another major factor. One should be clear, concise, curious, and careful with his or her research. The purpose of market research is not merely to know or be informed. It is highly concerned with delivering meaningful insights that bring positive impacts on the operations of a business. 

Also Read: Business Analyst Courses: Tips and Tricks

Common Career Opportunities in Market Research

Marketing research jobs are usually found either within marketing agencies or on the client side. While marketing agencies conduct research for various industries and projects, client side research is done on behalf of manufactures, service providers, retailers, and other business organisations. Also, the term “Market Researcher” is being replaced with fancy terms such as “Market Insights Manager” and “Consumer Insights Analyst”.

Let us explore some of the common positions you may get if you go ahead on the path of marketing research:

Executive Level Positions

  • Research Director – A research director is one of the most senior positions in this field. The employee at this position oversees the entire design and delivery of all the marketing projects under his umbrella.
  • Research Manager: As the name suggests, a research manager manages all the operations relating to a product or service. He or she designs and manages the research projects and their implementation. The research manager typically acts as the main point of contact for the client. He also ensures that the project runs smoothly.
  • Research Executive: The research executive looks after the execution of a research project. He or she works on the operational side of the market research spectrum. The research executive performs his duties with constant supervision of the research analyst and research manager. The main roles of the executive are designing the research, collecting the data, as well as preparing a final report.
  • Research Analyst: A research analyst is mainly concerned with the data analysis and presentation. He or she also plays a role in questionnaire formation and testing. 

Fieldwork Positions

Operations director: This is one of the most crucial positions in the market research sector. The operations director oversees the data accumulation, sampling, entry, tabulations, and questionnaire development. He or she ensures the timely delivery of output in accordance with the cost-constraints of the firm. The director also keeps a check on the quality assurance factor. 

Fieldwork manager: The fieldwork manager manages the activities of the qualitative aspect of market research. This includes the telephonic and face to face interviewers. He or she handles their recruitment, training, and, quality management.

Statistician: A statistician majorly looks after the data processing department. All the things related to statistics of the research are undertaken in his supervision. Some common activities include data processing, market modelling, and, statistical analysis.

What Are The Responsibilities of a Market Research Professional?

A market research job is not a mundane “9 to 5 – sit on the desk” job. It comes with its thrilling challenges, situations, and responsibilities. Any market research professional mostly enjoys his or her job. The exact roles of different market research positions differ, however, here are some common tasks that a market researcher usually undertakes:

  • Understanding the brand and its prospective consumers
  • Imbibe the brand ideology and motive
  • Communication with clients to understand their needs
  • Negotiating research projects
  • Gathering data regarding the company, consumers, and current market trends
  • Look after the creation and distribution of surveys and questionnaires
  • Supervising Ethnographic Research analysis. This means observing consumers in different settings in order to derive a conclusion about their behavior.
  • Implementing qualitative and quantitative surveys 
  • Interpret the data and draw meaningful conclusions related to customer patterns 
  • Identify the loopholes in the product or service and design effective improvement strategies
  • Monitor statistical software to organise and process data
  • Management of budgets
  • Advising the clients regarding the improvement strategies and market trends

Also Read: Management Courses Discoveries

What is The Basic Qualification For Becoming a Market Researcher? 

There is no one-direction path to become a market researcher. However, a bachelor’s degree in the some subjects acts as a basic eligibility criteria. When a student opts for a career in market research, he or she can avail marketing assignment help from various services. These subjects include Business or Management, Business Administration, Economics, Mathematics, Statistics, Anthropology, Geography, Psychology, Social Sciences, Sociology.

If you aim to enhance your qualifications, you can attain a masters degree in subjects like Business Administration, Marketing Research, or, pursue a doctorate in Marketing Administration.  

If you are wondering why the social science subjects act as a qualifying subject for roles in market research, then we have a answer! 

Market research is of two types, namely, Quantitative and Qualitative. In quantitative research we deal with figures, numbers, and deliver quick results in percentages. Under qualitative research, we understand and analyse consumer psychology, patterns, and draw relevant insights. Thus, the subjects of humanities also play a crucial role in marketing research apart from the commerce domain.

Is Market Research a Boon or Bane?

Just like every other career, marketing research also comes with its own set of advantages and disadvantages. If you want to figure out for yourself whether you want to delve in this field or not, we are here! Also, if you are worried about the academic curriculum of market research, then worry not! There are many services from which you can get help with assignment. Well, now you can evaluate both the sides of the coin through the following factors:

Why Market Research is a Boon:

  • High Paying profile: There is a common saying that “a marketing job pays well and stays well.” Majority of the market research job profiles come with decent payment packages and guarantee increments if the performance is satisfactory.
  • High potential for growth : The marketing sector is ever evolving and dynamic. It is one activity that businesses can never compromise upon. They need a constant analysis of their products, operations, and consumer reactions. Thus, if one enters the domain of marketing research and works with dedication, sky is the limit. He or she can explore different domains of this field and grow well.
  • Advantage of necessity : Even in a weak economy, marketing research can never fade away. Meaning to say, in times of economic crunches, when all other job sectors start shedding off, the need for marketing research professionals grows all the more. This is because organisations and clients seek external help to sustain and expand their businesses in times of crisis.

A good example of this was during the Covid-19 pandemic. When all businesses were on the verge of extinction, the domain of marketing was still flourishing. People and companies were looking out for innovative ways to sustain their brands even in the period of stress and recession.

Why Market Research is a Bane

  • Highly Competitive Industry: The market research industry is highly competitive. A huge proportion of the commerce students strive to create a marketing career. Moreover, for those who posses only a bachelor’s degree, this competition increases all the more. 
  • Stress Factor: Nothing that is good comes easy! The same goes with marketing. While it brings with it many pros, it also brings a lot of responsibility. The market research professionals often feel extremely stressed with the huge responsibility of governing the path of a business. One wrong decision could bring an unwanted result. There is immense ownership and burden that comes with this position.
  • Time Constraint: While marketing may not be a strict 9 to 5 job, it often exceeds the working hours. When hectic deadlines strike, the professional has to devote a lot of extra time to devise strategies, analyse their effects, and improvise them.

Enroll for online classes to boost your marketing research skills

If you had a limited exposure to the concepts of marketing research skills, you can enroll for online classes. You will be surprised to see the improvement in your skills along with the acceptance of an online degree. For example, you can enroll yourself in the online market research course offered by eCornell. Not only Cornell, there are numerous universities across the US offering major marketing courses online that helps you get a degree and a good job in the domain. University of Phoenix, Capella University and many more.
Principles of Marketing research by University of Georgia is also a widely acknowledged course for its structure and content.

Allassignmenthelp.com has invested a great deal of research and effort in creating a program helping students with their online class. You can come to us and say, do my online class to get great results on the tasks that you can’t keep up with your job or other commitments. We have helped students complete their online degrees with a perfect GPA and helped them land a dream job.

Tips For Excelling in Your Market Research Interview

All candidates attempt an interview with immense hope that they get shortlisted for the position. A well prepared candidate always stands out in any interview. A market researcher is selected based on his demeanour as well as qualifications. While the common qualities that recruiters expect in the candidates remain the same, some of them vary for different positions. 

For acing your market research interview, you must take note of the following points:

Read your job description well: Make sure you read the roles and responsibilities of that particular job. This will help you understand whether it fits with your expectations or not.

Be optimally confident: Your confidence should be good enough to impress the recruiters. However, it should not be over-the-top since it would come out as overconfidence in that case. 

Be prepared with some of the most common questions: Like any other field, some common questions rule the interviews for market research. Prepare yourself in advance for these questions:

  • Does a startup require market research or not?
  • What is the importance of market research?
  • Explain some of your past experiences of research?
  • What do you know about qualitative and quantitative research?
  • How would you communicate with a new client?

Follow up: It is vital that you follow up your interviewer after a few days. This not only shows your dedication for attaining the job, but also acts to your advantage.

Also Read: Easy Tips to Keep Your Brain Healthy and Sharp

Conclusion

Therefore, in today’s consumer-centric and digitized world, opting a career in market research is the best choice. With globalization and increased digitization, the possibilities for marketing research are endless. If you perceive yourself as a curious and analytical thinker, then this field is indeed worth giving a shot. You can evaluate the various facets of marketing research mentioned above and reach a conclusion. However, if you wish to explore your horizons and take up something challenging, then market research can turn out to be a good choice.  

About Us

There are many prospects if you go ahead with a career in Market Research as your education choice in the future. You can also seek assignment help online from top-notch academic writers from almost all areas. Our team provide assistance to the students to overcome all difficulties relating to submissions, homework, assignments, case studies, online classes etc. The qualified subject matter experts utilize their experience to generate best results.

Question: Is Market Research a good career?
Answer: Yes, Market Research is a popular career today. It is not only high paying, but it also guarantees growth and stability. With the advent of digitization, one can explore many career opportunities in this field.
Question: What are the qualifications for a career in Market Research?
Answer: There is no one set qualification for Market Research. However, some of the common subjects needed for the same include Business Administration, Statistics, Mathematics, Management, etc. A Masters degree in these will benefit all the more.