Understanding consumer wants, needs, and demands is the main purpose of a market researcher. From educational institutions to hospitals to government offices and officials to non-profit organizations, market researchers are able to help all types of groups and companies understand how to reach a target demographic and sell products, promote services, or receive the volunteer or other feedback desired.
The Right Education for Market Research Positions
There are several business educational programs, mostly at the graduate level, that offer specializations or concentrations in market research, market analysis, or consumer behavior. These degrees can be beneficial for individuals who are seeking management or executive positions in market research. A degree in this specific field, however, is not the only option for beginning a career as a market researcher.
Additional Resource: MBA in Marketing
In addition to majoring in business, graduates with degrees in mathematics, statistics, communication, and psychology are also qualified for beginning a career in the market research field. Because of the diversity of the career, each of these degrees, as well as others, help prepare graduates for the tasks and responsibilities of a market research position.
For additional information for how to prepare for a career in market research, please visit the “Market Research Consultant” article on the American Psychological Association website.
Tasks and Responsibilities of a Market Research Professional
A market research professional is expected to gain an understanding of the types of products or services that a consumer would be willing to pay for. Market research starts at the very beginning of the process of research and development; companies are increasingly working to produce only those products that will sell and improve the bottom line.
In addition to private and other for-profit corporations, market researchers are also an integral part of education, government agencies, non-profit groups, and many other types of organizations. In these industries, market research professionals perform the same types of analysis as in the private for-profit sector. Common responsibilities include research design, data collection, analysis of data, communication of results, managing research, and reporting recommendations. For additional information, visit the career guide at the Marketing Research Association website.
Market Researching Skills and Qualities
There are many skills and qualities that are helpful as a market researcher. A solid understanding of mathematics and statistics is helpful in the research process, as well as for making recommendations based on the analysis of research results. Additionally, market researchers benefit from a strong set of communication skills, including written, interpersonal, and verbal communication. Other valuable skills include computer proficiency, critical thinking, and an understanding of marketing theories and concepts.
Individuals who are creative, effective at multi-multitasking, flexible, curious about human behavior, excellent organizers, and accurate, could find this field to be the right fit.
As competition to sell products and emerge as leaders in commerce, government, or other industry, the need for professionals to analyze market conditions and individual consumers will also continue to rise. With the skills, education, and experience needed to become a market researcher, professionals will have a diverse set of opportunities, challenges, and positions to pursue.
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