Market Researcher

Market researchers may use a variety of techniques to predict sales of a product or service. They can look at past sales of similar products as well as input from previous customers. When gathering data, market researchers may focus on pricing, product quality, customer satisfaction, customer demand, and marketing strategies. They may also try to draw comparisons from competitors’ products and services. Market researchers obtain their information from a variety of sources. Past sales figures are usually readily available. Customer input may be gathered from telephone or mail surveys as well as from toll-free customer service calls. Research assistants and customer service representatives usually conduct these surveys.

Once the data are collected, market researchers analyze the information and draw conclusions. These conclusions allow market researchers to create reports that include recommendations. Often these recommendations are passed along to company management personnel where an action plan can be created.

Education and Training

A master’s degree improves employment prospects. In order to be considered for entry-level positions such as a research assistant, administrative or management trainee, or market interviewer, candidates must have the following education:

• a bachelor’s degree with a concentration in business or marketing

In order to be considered for a position of higher responsibility, such as market research analyst, candidates should have the following education:

• graduate training with a concentration in economics, business administration, marketing, statistics, or related disciplines
• relevant related experience

On the Job

Market researchers may spend much of their time working alone writing reports, preparing charts and using computers. They also may work within a team of researchers, where each member of the team is responsible for a particular task. Since much of the work of a market researcher is related to the introduction of a new product, strict deadlines are commonplace. Market researchers sometimes are asked to collect additional data or attend meetings with upper level managers. Market researchers may be required to travel on a regular basis.

Math on the Job

Market researchers benefit from a strong mathematical background, particularly in statistics. They often create surveys and interviews that provide information that is accurate and meaningful. Market researchers also need to have the skills to effectively analyze data. Much of the information is eventually presented in the form of charts and graphs. The data should reveal such things as market trends and customer preferences.

Related Careers

• sales manager
• economist
• product manager

English: A business ideally is continually seeking feedback from customers: are the products helpful? are their needs being met? Constructive criticism helps marketers adjust offerings to meet customer needs. Source of diagram: here (see public domain declaration at top). Questions: write me at my Wikipedia talk page (Photo credit: Wikipedia)