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If you were considering if market research jobs are the right choice for you, then you obviously need to undertake a primary research of your own to find out if this is what you really want to do. Market research work involves analyzing the dynamics of the market. Now when does this become crucial? This is a vital step that every company undertakes before launching their own product or service in the market. This is because the company needs to test its acceptability and its popularity among the people. If the product doesn’t seem to attract buyers, then it is but certain that the company shall not profit out of selling it.
Market research department function involves collecting data by feeling the pulse of the target consumers, and through analyzing the collected statistical data do they turn in a report advising the company about the steps to take. If the commodity to be launched seems to interest buyers on its own, well and fine and if it does not then, in all likelihood an advertising strategy needs to be adopted to sell the product successfully.
The main part of a market research department’s work is done by its analyst. He is charged with the duty of identifying the targeted consumer group’s tastes and preferences. And this is best reflected through interviews, door to door surveys and online polls. Data collected in this manner when put to detailed examination reveals in depth insight into the trends of the market. This feedback is pivotal for any company’s success. After all it is upon this report that further steps are taken, that is, the company strategizes upon the information provided by them so that money can be invested profitably in the right direction.
You can secure a job in the market research wing of any company if you have done a bachelor’s degree in marketing. A master’s degree in the same field is sure to fetch you brownie points. Do not get flustered if you are not too well acquainted with analyzing the data- most of the time it comes with experience.
However, it is always desirable for people aspiring to get employment in market research oriented jobs, to have a knack for analysis and critical thinking. Moreover, since most reports are to be presented, people with good public speaking capability are sure to catch attention. Apart from that, possessing commendable writing skills whereby one will be able to present one’s key findings and suggestion in a crisp manner shall not go amiss.
Now if you are wondering if it is a remunerative engagement or not, then let me clear your doubts by saying that this job pays well. It in fact pays you handsomely for the amount of work that you put in. While for the average analysts the annual income is around 61k, for the top notch professionals in this field the annual draw is close to over 110k. Moreover, this job sphere has been identified as the one that is capable of achieving much growth and expansion within a short span of time. With so many options at your disposal- from market research manager, market research executive/ analyst to market research worker/ interviewer- a career in market researching, no wonder is something to aspire for!
If the criteria suit your taste, search for the available marketing research opportunities and apply right away!