Research customer habits to guide marketing efforts.
What does a Market Research Analyst do?
It benefits a company’s bottom line to target the right customers. For example, one wouldn’t want to pay for advertising at a young adult clothing store if one’s product is aimed at senior citizens. In addition, it’s important that businesses understand what their customers want. That’s why they enlist Market Research Analysts to help them better understand the behavior of their customers.
As a Market Research Analyst, you work with Business Owners, Marketing Managers, Product Development Engineers, and others who benefit from seeing the company succeed. It’s your job to gather accurate information from and about the company’s customers. That means you design surveys for them to complete. You might even hire and train interviewers to question the customers directly.
When you’re not interacting with the customer or communicating with the Business Owner, you spend your time scouring over data in an effort to locate trends, evaluate consumer spending habits, identify customer needs and wants, and create reports and graphs that outline your findings.
Companies rely on the Market Research Analyst not only to relay what the customer is thinking, but also to incorporate that knowledge into an effective marketing plan. You advise them about the who, what, why, and how of advertising their product. You also provide sales forecasts based on your research.