Market research is a vital role in an organisation in terms of aiding the marketing team to make important decisions regarding all branding and promotional schemes. Job holders take on the role of gathering relevant data in order to gain information about a specific market where they intend to target their product. Market researchers collect and evaluate data about demographics, competitors’ strategies, prices, and distribution channels.
The day-to-day responsibilities of job holders in market research vary greatly; however, the department will be responsible for tasks such as developing research plans, and evaluating collecting data, presenting specific data regarding demographics and organising into charts and graphs, and meeting with clients in order to determine company objectives.
Those working in this field should have excellent analytical skills and a good attention to detail. They should have the ability to interpret and evaluate data, as well as competency with Microsoft Office tools.
Many organisations demand a Bachelors degree in statistics, market research or another related field. As the area of market research is very broad with varying positions, the average salary range is C
$20,000 - C
$90,000.