If you are thinking of a career in market research, this post is for you. Market research (sometimes referred to as “marketing research”) goes beyond collecting, analyzing, and reporting data—it is about providing meaningful insights that have a major impact on the lives of people and operations of organizations.
A market researcher is equipped with tangible skill sets to answer the what, why, which, when, and how of a research project. A good researcher is curious, careful, and clear about achieving research objectives without compromising on research quality.
Moreover, market research professionals are capable of finding, understanding, and interpreting data, and offering comprehensive and critical insights to businesses—from consumer behavior and competitor activities to potential market and potential sales. It is not easy to make well-informed business, social, and political decisions without market research.
Do you want to know career opportunities in market research? This post will show you why it is a great decision to carve a career in market research. Let us get started.
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A career in market research is an excellent choice if you like to thrive in a role that rewards analytical, collaborative, creative, and critical thinking skills. People who work in market research get to be at the forefront of industry trends. Furthermore, market research experts study people and their underlying motivations to leverage data for the greater good.
A career in market research pays well and stays well.
There is no dearth of market research opportunities because businesses across the world continue to invest in market research initiatives to achieve long-term growth. Although research objectives and findings may change, the purpose of research remains the same—deliver value. All it takes is a dedicated and disciplined career growth strategy to progress in a market research career.
Once you make up your mind about a career path in market research, you can apply for a wide variety of positions based on your qualifications, experience, and skill sets.
Well-known career opportunities in market research include (listed in alphabetical order):
- Demographic Analyst
- Field Research Supervisor
- Market Research Analyst
- Market Research Associate
- Market Research Consultant
- Market Research Executive
- Market Research Specialist
- Market Researcher
- Primary Research Executive
- Research Account Executive
- Research Director
- Research Manager
According to the Occupational Outlook Handbook published by the U.S. Bureau of Labor Statistics, the job outlook for market research career aspirants looks promising with a 22 percent growth rate—much faster than the average for other occupations.
What are the personal competencies that hiring managers typically look for? Along with must-have analytical, communication, and comprehension skills, you need to be good at prioritization, scheduling, and time management.
That’s not all! You can access practical tools and resources online. For example, the Market Research Society (MRS) offers the widest range of research, insight, and analytics training in the UK.
There are several types of market research in practice. A market researcher may opt for a single or multiple research methods to accomplish the stated research objective(s). The two main types of research based on the information collected include qualitative research and quantitative research.
Whether you want to pursue a qualitative research or quantitative research role, it is necessary to choose a role that matches your aptitude. Do you want to see how?
Qualitative research is apt for you if you like meeting new people, liaising with colleagues and clients, and studying competitor or consumer behavior. However, if you like gathering, analyzing, and interpreting data sets, quantitative research is perfect for you.
Your talent makes you unique.
So, you need to make a career choice that works for you. If you are still unsure about a career path, you can take career assessments like this to find the best career matches for your profile. You can also consult your alumni and use LinkedIn to reach out to professionals currently working in your desired role. Timely career advice and guidance go a long way in steering your career in the right direction.
Market research is not a boring data-crunching job—it is a job that celebrates an innovative problem-solving approach and carries the distinction of empowering businesses with actionable insights.
You might be wondering about a market research professional’s general responsibilities.
Example: A market research analyst’s responsibilities include:
- Communicating with clients and understanding their goals and objectives.
- Gathering and analyzing company, consumer, and market data.
- Devising suitable research methodologies.
- Conducting in-depth secondary and primary research (including phone interviews, opinion polls, questionnaires, and surveys for collecting data, as required).
- Conducting research on marketing strategies and consumer opinions.
- Monitoring and forecasting sales, government policies, market trends and developments.
- Collaborating with diverse research teams, marketing professionals, pollsters, statisticians, and other professionals.
- Preparing market research reports and presenting research findings/results to the clients.
Have you been attending market research interviews? Are you looking for market research career advice to get your foot in the door?
Market research education requirements include at least a bachelor’s degree and, possibly, an advanced degree in business analytics and data science if you are aiming for senior-level market research career positions.
Market research jobs require you to have experience working in a research environment and familiarity with research methods, survey data analysis software and other market research techniques.
Market research jobs are in demand—with many private research organizations, public research agencies, and government departments actively hiring people for market research roles.
How to find your dream job? You can look up online job sites for a market research analyst job or other roles, ask for a referral, or apply directly for open positions.
Keep yourself updated with the latest market research events and updates. After all, the more discerning you are, the more desirable you will be to ensure a fit with respect to hiring requirements.
Good preparation lays the foundation for a great performance at your interview.
Read the job description carefully to make sure the market research job matches your career goals.
Always back your preparation up with a solid understanding of answers to popular market research interview questions like:
- Why is market research essential to the success of a business?
- Is market research indispensable or optional for a startup?
- What qualitative or quantitative methods have you used to conduct research?
- How comfortable are you in building rapport with a diverse team?
- How would you communicate research outcomes to a client?
- What analytics tools and statistical packages are you familiar with?
Last but not least, it is recommended to follow up with the recruiter who conducted or facilitated your interview.
Proactive follow-up is crucial for job search success.
With the core focus on the global energy transformation, the company provides transformational market research insights to help clients make better business decisions and grow their businesses effectively.
If you are interested in a research internship or looking for a market research job, check out the career opportunities that match your qualifications and skill sets. Accelerate your career with a team that enjoys learning together and goes the extra mile to deliver exceptional client service.
Blackridge Research & Consulting welcomes you with an open-mindedness to explore the new and achieve the next. Are you ready to reinvent your career? If you have any questions, get in touch today.
We bring you an insightful Q&A with Rajashekar Lokam—Principal Analyst at Blackridge Research & Consulting.
Rajashekar (Raj) Lokam is a seasoned market research professional with extensive primary and secondary research capabilities. Raj has managed a variety of commissioned due diligence projects across industry sectors and provided timely, strategic market intelligence to clients worldwide.
Apart from exceptional problem-solving and people skills, his expertise includes (listed in alphabetical order):
- Client management (local and international)
- Competitive analysis
- Market entry and development
- Market positioning
- Market research report writing (in addition to data sheets, white papers, and various research publications)
- Market sizing and forecasting
- Marketing strategy
- Monitoring and analyzing global energy industry dynamics
- Opportunity assessment
- Primary and secondary research methods
Raj is an avid supporter of social causes and a sports aficionado.
Curious, adaptable, and analytical.
As more and more companies depend on in-depth knowledge of the rapidly evolving market environment, qualified market research professionals are in high demand. Market research helps businesses avoid costly mistakes, make data-driven decisions, identify new markets and opportunities, reduce the risk of bad positioning and much more.
Dynamic professional organizations, startups, and other businesses rely on market intelligence to eliminate uncertainty and empower them with strategic insights for decision-making.
It is not surprising that market research experts of varying levels of experience are indispensable to organizational success in a data-driven world.
Equipping yourself with the right degree and right skill set will prepare you for a successful career in market research.
Moreover, gaining professional experience by working for a trusted market research company will make you stand out from the crowd and boost your chances of getting hired for future positions
When you get an opportunity to gather data and gain the power to transform people’s lives or turn analytics into a much-needed asset, you know that you are making a REAL difference.
A career in market research is bright and beautiful. Go for it!