Market researchers utilize surveys, new product tests, statistical analysis packages, and focus groups to help determine what makes people buy certain products. They combine knowledge of how the market works with quantitative data to help attain success for products. As technology continues to improve the process of gathering data, the marketing research field continues to grow.
Possible sales are determined by researching, organizing, collecting, and interpreting data from a variety of areas. Market researchers must be able to effectively acquire and interpret the data.
The ability to work as a team is essential to becoming a successful market researcher. Market researchers work with IT specialists, statisticians, surveyors, other research specialists, interviewers, and many others to perform their job.
The job of a market researcher includes data collection on services, products, and the consumer’s purchasing power, shopping habits, and needs; creating and carrying out procedures to determine advertising needs; instating research methods and ways to gather and analyze data; monitoring the consumer’s reaction to improved or new services and products; researching competitors’ services, products, and locations and determining if their marketing is more effective; and determining the overall effectiveness of promotions and advertising.
Marketing research positions are available inside ad agencies and corporations. Researchers can also work as consultants for large firms, as an independent practitioner, or as teachers in an educational institution.
To attain success in this field, technical skills in addition to talent is needed. Marketing graduates must be proficient in web-based marketing as the industry continues to grow. Those who can successfully work with data warehouses, databases, and marketing messages will have increased job opportunities.
Thanks to today’s on-line data bases, collecting secondary research is a relatively painless task. In the past, hours of research were spent looking through government documents and other references. Because of on-line data bases, product managers can quickly scan information, determine relevance, and pinpoint necessary details.
As people are becoming irritated by the increase in home solicitations, market research is becoming more challenging to collect. This research is typically gathered by telephone, in-home interviews, mail surveys, and shopping intercepts. Because information is now harder to gather, consumers are being paid to participate in long-term research. Some companies offer promotions, samples, and coupons to consumers who complete surveys.
Companies are very conscious of the demographic group their marketing campaigns target. Because the market is full of segmentation, numerous advertisements targeting different demographic groups are often used for the same product.
Customer satisfaction is beginning to play a greater role in market research. In the past, companies always focused on price. Today the customer’s opinion is being considered when marketing products. Non-smoking preferences in certain facilities such as airplanes and restaurants is an example of customer’s preferences bringing about changes.
Product managers must have a solid understanding of the consumer’s receptiveness of a product. Categories of consumer receptiveness include available customers, sympathetic users who use the product some of the time, and supporters who feel strongly about the use of the product.
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