Market Research Analysts and Marketing Specialists
Market research analysts and marketing specialists research conditions in local, regional, national, or online markets. They gather information to determine potential sales of a product or service or plan a marketing or advertising campaign. They gather information on competitors, prices, sales, and methods of marketing and distribution. They employ search marketing tactics, analyze web metrics, and develop recommendations to increase search engine ranking and visibility to target markets.
The market research analyst's job is to prepare research reports and analyze consumer trends. For this, they conduct surveys in organizations and establish business management methods. Moreover, they measure the effectiveness of business strategies or practices and present data related to operations, market, finance/accounting, economics, customers, and other information related to the field they work in.
The marketing specialist job description usually has a background or degree in business administration, market research, communications or a social science field. Courses in statistics, research methods, and marketing are essential for these workers.
A market research analyst's salary increases when one has a minimum of five years of experience in marketing or a related field. They should have search engines, web analytics, and business research tools acumen. They are required to have excellent knowledge of statistical packages, databases and Microsoft Office. Strong communication and presentation skills are relevant skills.
For a successful career in the market analysis as a research analyst, one should be fully aware of the business and possess strong interpersonal skills, with written and oral communication skills. They should be an ideator, initiators and an organiser.
Qualifications
Every career requires an element of study and academic qualification, and there can be several study routes and pathways you can take. In following any academic pathway you will study subjects that contribute to the specialised knowledge required to achieve your career goals. These qualifications provide a future employer with the evidence that you have the desired knowledge, understanding and experience of their industry, so it’s important to consider the various types of qualifications available to you and to understand how they can boost your career and create opportunities for you.
- MBA Master of Business Administration
- PG Diploma Mathematics
- M.Tech Data Science
- BBA Bachelor of Business Administration
- B.Tech Computer Science
Tasks
- Collect and analyze data on customer demographics, preferences, needs, and buying habits to identify potential markets and factors affecting product demand.
- Prepare reports of findings, illustrating data graphically and translating complex findings into written text.
- Measure and assess customer and employee satisfaction.
- Forecast and track marketing and sales trends, analyzing collected data.
- Seek and provide information to help companies determine their position in the marketplace.
- Measure the effectiveness of marketing, advertising, and communications programs and strategies.
- Conduct research on consumer opinions and marketing strategies, collaborating with marketing professionals, statisticians, pollsters, and other professionals.
- Attend staff conferences to provide management with information and proposals concerning the promotion, distribution, design, and pricing of company products or services.
- Gather data on competitors and analyze their prices, sales, and method of marketing and distribution.
- Monitor industry statistics and follow trends in trade literature.
Progression Routes
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