The Market Research Analyst is responsible for providing information to companies about what consumers think and feel. They help large and small organizations to determine what products or services customers want, when the want them and what price they are willing to pay. They specialize in gathering this information from the customers through focus groups, panel testing and purchasing behavior. The collection and interpretation of the voluminous data helps to reflect, determine and predict consumers purchasing behaviors, which is invaluable to an organization. Market research falls into two specific categories, quantitative and qualitative.
Quantitative market research analysts study the statistical analysis of data from large pools of respondents and use that to derive a numerical average or percentage to estimate opinions and behaviors of the populating. While qualitative market research analysts gather a large amount of data from small groups of people during interviews and focus groups. The information can be abstract but it is more helpful to true consumer behavior on the inner level. Both quantitative and qualitative market research analysts gather and analyze market data through many methods and then take that information and make recommendations to companies for anything from product design to delivery and promotion. These findings could help a company expand their product offerings, open a new retail location, close underperforming locations, or even change the packaging to be more appealing.
Developing new techniques are important to Market Research Analysts today as some consumers no longer answer their phones to strangers, open mail that looks like spam or emails that could be ridden with viruses. Cost is also a driving factor to getting the best information without spending a fortune to get it. Collaboration with marketing specialists, account executives, or creative directors can help determine new techniques so working as a team is a major role in this position. Reporting is another important key factor to a successful research analyst since without recording their data, there would be nothing to show the organization. Reporting on statistical, qualitative, and the populations’ age, race, sex etc. is what helps determine who their target audience is and what they want from the organization.
If you are applying for a Market Research Analyst position, your resume should include your methods of gathering data, whether it’s from focus groups, email campaigns, competitions, surveys, telephone surveys, or random selection. The companies you’ve worked for in the past will also show the industry you worked in, which could be important to some employers since information on people who purchase from a home improvement store is drastically different to a make-up company, so be sure to list the industry as well. Finally, the size of your research could be as small as a town, a city, or a state and can range to the country or even world-wide, so add the range and quantity you worked with.
Market Research Analyst Resume Builder Power Words: market, research, analyst, statistical, data, surveys, campaigns, quantitative, qualitative, reporting, behavior, focus groups, and consumer.
Market Research Analyst Resume Sample
- Analyzed key market, competitive and customer trends and evaluated impact on market segments
- Assisted in development of annual market research plan and management of annual market research budget
- Attended meetings in a supporting marketing role
- Collaborated with management to develop presentations using Microsoft PowerPoint as needed
- Conducted competitive intelligence and landscape update
- Coordinated with key stakeholder groups such as Sales, Sourcing / Supplier Relations, Pricing, etc. to gather key compounding industry insights and proactively communicated industry news
- Created databases to capture market data
- Created reports and presentations that clearly highlight the actionable insights combined with business implications/strategic & tactical options
- Evaluated demographics, prices, distribution channels and marketing outlets
- Gathered market-related product data to produce routine and ad hoc reporting
- Identified and used appropriate research resources and networks within project budget and timelines in support of brand strategy and tactics
- Integrated primary, secondary and competitive intelligence to provide thorough analysis of various market related issues
- Led detailed competitive assessments, and determined strategic implications and counter strategies and tactics
- Led market needs analysis through primary and secondary research, to support customer segmentation opportunities and sales initiatives
- Offered insights about product potentials
- Planned, designed and conducted primary market research projects, both qualitative and quantitative
- Served as a key strategic partner to uncover underlying business needs and information gaps
- Tracked competitor performance and competition strategy
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