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.