Market Research Analyst job description
A Market Research Analyst collects and analyzes data on consumers, competitors, and the marketplace. They provide insights and recommendations to support decision-making, identify market trends, and improve competitiveness. Strong analytical skills, knowledge of statistical packages, and excellent communication are essential.
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What is a Market Research Analyst?
A Market Research Analyst is a professional who collects and analyzes data on consumers, competitors, and the marketplace. They interpret the findings to provide valuable insights and recommendations to businesses for informed decision-making and to identify market trends and opportunities.
What does a Market Research Analyst do?
A Market Research Analyst conducts research and gathers data using various methods such as surveys, interviews, and data analysis tools. They analyze the collected data, interpret trends, and provide reports and presentations to clients or internal stakeholders. They play a crucial role in helping businesses understand consumer preferences, market dynamics, and competitive landscape to drive strategic decision-making and improve overall business performance.
Market Research Analyst responsibilities include:
- Collecting data on consumers, competitors and market place and consolidating information into actionable items, reports and presentations
- Understanding business objectives and designing surveys to discover prospective customers’ preferences
- Compiling and analyzing statistical data using modern and traditional methods to collect it
Job brief
We are seeking a detail-oriented Market Research Analyst to conduct surveys and analyze customer preferences and statistical data.
Your role will involve providing valuable insights to support customers in their decision-making processes related to product designs, pricing, and promotions.
As a successful Market Research Analyst, you will have the ability to independently analyze qualitative data, identify trends, assess strategies, and evaluate competition, with the ultimate goal of enhancing competitiveness.
Your responsibilities will include gathering and interpreting market research data, generating reports, and presenting findings to stakeholders.
We are looking for a self-motivated professional with strong analytical skills and a deep understanding of market dynamics.
Join our team and contribute to our company’s success by helping us make data-driven decisions to optimize our products and strategies.
Responsibilities
- Collect data on consumers, competitors and market place and consolidate information into actionable items, reports and presentations
- Understand business objectives and design surveys to discover prospective customers’ preferences
- Compile and analyze statistical data using modern and traditional methods to collect it
- Perform valid and reliable market research SWOT analysis
- Interpret data, formulate reports and make recommendations
- Use online market research and catalogue findings to databases
- Provide competitive analysis on various companies’ market offerings, identify market trends, pricing/business models, sales and methods of operation
- Evaluate program methodology and key data to ensure that data on the releases are accurate and the angle of the release is correct
- Remain fully informed on market trends, other parties researches and implement best practices
Requirements and skills
- Proven Market Research Analysis experience
- Ability to interpret large amounts of data and to multi-task
- Strong communication and presentation skills
- Excellent knowledge of statistical packages (SPSS, SAS or similar), databases and MS Office
- Search engines, web analytics and business research tools acumen
- Familiarity with CRM programs
- Adequate knowledge of data collection methods (polls, focus groups, surveys etc)
- Working knowledge of data warehousing, modelling and mining
- Strong analytical and critical thinking
- BS degree in Statistics, Marketing or related field
Frequently asked questions
What does a Market Research Analyst do?
A Market Research Analyst provides information that will help companies make informed decisions about their products. They study consumer behavior and attitudes, looking at what people want in terms of who they are buying from, with an eye on potential sales trends.
What are the duties and responsibilities of a Market Research Analyst?
A Market Research Analyst is responsible for optimizing strategies to yield maximum impact on sales or marketing trends using the most recent data to inform marketing strategy.
What makes a good Market Research Analyst?
A good Market Research Analyst needs strong communication skills when gathering information, interpreting data, and presenting results to clients. They also need to have a knack for understanding large quantities of complex data in order to process and relate the information across different industries and markets.
Who does a Market Research Analyst work with?
Market Research Analysts can work as independent freelancers or with an agency. In the case of an agency, they could interact daily with the marketing team and report to the Product Marketing Manager.
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