Jobs in market research range from entry-level positions that involve conducting phone surveys to positions that require extensive data collection and analysis. Market research jobs are available at research firms that collect data from a variety of industries for resale, as well as firms that hire individual market researchers to assist in the development of their company’s marketing strategy. When a company is going through a transition, such as expanding into new markets, smaller companies are more likely to hire the latter as a freelancer.
Statistics and market overviews are frequently required to support business plans, marketing plans, grant applications, and investor proposals. Market researchers are needed by research firms that collect and sell this data to organizations to source the data and aggregate it in a way that meets the client’s needs. A marketing research firm, for example, might be asked by a client to create a comparative analysis of its competitors. In this case, the firm’s market researcher might be tasked with gathering information on the competition’s pricing, market share, and affiliations. The client is in the best position to make major decisions, such as whether to acquire the competition, once the researcher has compiled the data into a chart or other format that is easy for the client to understand.
If a company requires a large amount of market data, market research jobs may be available within the marketing department. Because most small and start-up businesses cannot afford to hire a full-time market researcher, they may incorporate market research into the duties of another employee, such as a marketing coordinator or marketing manager. Another option is to hire a market researcher for a specific task on a freelance basis. An organization might, for example, hire an international market researcher to conduct a feasibility study on the company’s potential for international expansion. A company might also hire a marketing researcher to collect and aggregate data that will help it form strategic partnerships, support funding proposals, or determine the purchasing habits and demographics of its target market.
Qualifications for market research jobs vary widely depending on the organization and the type of market research needed. Market research jobs that do not require an academic or professional background in marketing, such as survey taking, are common entry-level positions. Market researchers who work as freelance consultants typically have a high level of academic experience, such as a master’s degree in business administration, commerce, or library and information science.