What does Market Researcher mean?
A Market Researcher helps companies determine how best to promote their products and services and which consumer groups are most likely to buy them. They develop surveys and strategies that are designed to discover consumer habits, preferences and opinions in order to produce better products and maximise sales. The Market Researcher trains and oversees staff who carry out these surveys through a number of mediums; by telephone, online or through face to face interviews with focus groups or individuals.
As well as conducting surveys and interviews, Market Researchers monitor competitor performance and consumer behaviours within the relevant industry in order to predict trends and generate forecasts. They provide companies with this information along with recommendations and proposals, presenting their findings in a format that suits the client; in slideshows, articles, conferences or private briefings.
What is a Market Researcher's role?
- Liaising with managers and clients to determine company objectives.
- Developing and implementing research strategies to identify consumer habits and opinions.
- Conducting and overseeing collection of data through online surveys, phone questionnaires, focus groups and individual interviews.
- Monitoring competitor performance and market conditions.
- Analysing research to identify target audiences, forecast market trends and predict consumer behaviour.
- Measuring the success and efficacy of marketing strategies against desired and projected outcomes.
- Rendering complex data into coherent graphs, tables or slideshows for client presentations.
- Preparing and presenting reports on progress and results.
Fast Facts - Market Researcher
- Average Age: 34
- Male Share: 39.60%
- Full-Time Share: 77.60%
- Average Hours: 40 hours per week
- Level of Study: A Bachelor Degree or higher
- Average Salary: $1,346 per week Before Tax
- Unemployment Levels: average
- 2015 Employment Numbers: 63,600
- Projected Growth: strong
- 2020 Employment Numbers: 70,300