Market Research Analyst Job Description Template
Use this Market Research Analyst job description template to advertise the open roles for free using Longlist.io. You can use this template as a starting point, modify the requirements according the needs of your organization or the client you are hiring for.
Job Brief
We are looking for a methodical Market Research Analyst to survey customer preferences and statistical data in order to support customers during their decision making process regarding product designs, prices and promotions. The successful market researcher will be able to analyze autonomously qualitative data, trends, strategies and competition aiming at increasing competitiveness.
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
- 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
What does Market Research Analyst do?
A Market Research Analyst is responsible for conducting research and analysis to help businesses make informed decisions about their products, customers, and marketing strategies. On a day-to-day basis, a Market Research Analyst may perform the following tasks:
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Designing research projects: This involves determining the scope of the research, selecting appropriate research methods, and developing research questionnaires or surveys.
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Collecting data: Market Research Analysts gather data through various methods, including surveys, interviews, focus groups, and data analysis of existing databases or secondary sources.
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Analyzing data: They use statistical techniques and software to analyze the collected data, such as determining trends, patterns, and correlations. This helps them extract meaningful insights and draw conclusions from the data.
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Reporting findings: Market Research Analysts prepare reports and presentations summarizing their research findings, including actionable recommendations for business clients. They may present their findings to stakeholders, such as managers, executives, or clients.
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Monitoring market trends: Analysts stay up to date with market trends, industry news, and competitor activities. They may analyze industry reports, financial data, and consumer behavior to understand changes in the market and identify potential opportunities or threats.
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Collaborating with teams: Market Research Analysts often work closely with cross-functional teams, such as marketing, sales, and product development, to support their decision-making processes. They may provide data-driven insights and recommendations to help teams plan and execute marketing campaigns, develop products, or target specific customer segments.
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Conducting competitive analysis: Analysts research and analyze the competitive landscape to identify competitors' strategies, strengths, weaknesses, and market positioning. This information helps businesses understand their competitive advantages and improve their market positioning.
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Recommending strategies: Based on the research findings, analysts may offer recommendations for strategies to enhance marketing campaigns, target specific customer segments, improve products or services, or expand into new markets. These recommendations often aim to help businesses gain a competitive edge or increase sales.
Overall, a Market Research Analyst plays a crucial role in providing valuable insights and data to inform business decisions and strategies.