Market research analyst
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MenéameDescription
These professionals perform market analysis studies with the aim of obtaining valuable information that the client company will use to take decisions with respect to the products or services it markets and marketing strategies.
Market research analysts are multifaceted with great analytical skills, because they must have knowledge of business management, be literate in new technologies applied to marketing and statistics techniques and, in parallel, notions of consumer psychology. Market research is a process that includes designing surveys, studying the data obtained and taking statistics, that analysts will use to understand consumption trends, to determine sales development for specific products, to establish potential consumers, situate competing companies, etc.
The result of the analyses they perform are very useful tools for the company sales and marketing departments, as depending on this research, later advertising campaigns will be established or new product or service lines will be launched.
Tasks
- Define the objectives sought in the research project:
Before starting research, jointly with the client's company, determine the purpose of the study, such as for example finding out the company's situation on the market with respect to its competitors, the sectoral distribution of sales for products and geographic areas, the type of consumers (desires, behavioural patterns, profiles, etc.), customer satisfaction, etc. - Establish methodological aspects and the procedures necessary to obtain study data:
Determine the sampling of consumers who will perform the study.
Establish the model for questions that will be asked and the content of the survey to obtain appropriate responses.
Define the medium by which surveys will be performed: email, telephone or personal contact.
In charge of managing a tem of market research experts at times.
Determine the statistical techniques that will be applied to carry out the research.
Assure that data are compiled correctly. - Analyse the data obtained:
Perform quantitative and qualitative studies on the data obtained.
Analyse changes in sales in previous periods and, using the results obtained, establish forecasts for the future.
Draw up reports, charts and comparison tables to present the results of the market research study.
Collect the data obtained on competitors and analyse their prices, marketing strategies and distribution, then creating a report containing all this information.
Operate in the market information system and supervise its operation to optimise costs and access times to the stored information. - Notify the company of the results obtained:
Make recommendations to the client company in accordance with the information so that it takes decisions with regard to promotion, distribution, product design and prices of the product or service. The information obtained can also determine the suitability of opening new sales lines and new marketing strategies or diversifying company operations.
If advisable, work with the marketing department to define strategies and participate in monitoring and supervising the established plan.
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