Market Researcher

Responsiblities: 

·         Investigating market activity

 

·         Analysing published data and statistics

 

·         Evaluating past performance of a product or service's sales

 

·         Assessing future trends

 

·         Commissioning surveys

 

·         Co-ordinating research projects

Characteristics:

·         Effective marketing research uses the principles of the scientific method

·         Good marketing research develops innovative ways to solve a problem.

·         Reliable marketing research uses multiple methods to acquire data and shy away from over-reliance on any one method.

·         Savvy marketing researchers recognize the interdependence of research models and the data collected.

·         Smart marketers understand the relationship between the value of information and its cost.

·         Good marketing researchers show little reliance upon glib or stereotyped assumptions made by managers about how a market works.

 

Education Background:

College diploma or degree, university diploma or degree in areas of business, marketing, event management, hospitality management, tourism and travel, social sciences, technology; or equivalent.

·         Algonquin College

·         Georgian College etc.

Advancement:

• Statistician

 

•      Survey researcher
 
•      Economist
   

     

Future Outlook:

     There are currently 249,810 market research analysts in the United States, with 13,730 new market research analyst job openings created each year. Market Research Analyst jobs are not expected to see much growth beyond their current levels in the next decade.

Salary:

      Market Research Analyst salaries can vary depending on your experience, the location, company, industry, and benefits provided. Nationwide, most market research analysts make between $43,800 - $84,400 per year, and $21.08 - $40.59 per hour.

Companies:

·         Premier Service Inc.

·         Prophis Research

·         Provalis Research

·         Quality Response Inc.

·         Ramius Corporation etc.

 

 

 

 

Negative Aspects: 

 

- Small firms cannot afford it as market research program requires huge funds due to its expensive techniques.

- Its methods are assistive in collecting and interpreting data from human beings but the information given by individuals may not be accurate. Hence, it affects the outcome shown by the research.

- It can be advantageously executed by professionals having complete knowledge of statistics, data processing and operational research etc. These knowledgeable and proficient personnel may not be available easily.

- It offers only probable, multifaceted, and nonfigurative results where as traditional management anticipates exact, straightforward and solid solution.