“Consumer is the King” is the theme of all the marketing activities of these days as all the activities of a business and industrial enterprise start and end with the maximum satisfaction of consumer needs. Marketing Research is the tool to achieve this object. Basically Market Research is the collection, summary and analysis of the data regarding goods & services so that the behavior of the consumers may be understood and maximum satisfaction may be provided to them.

Therefore career in Market Research is an excellent avenue as it is a gift of Modern Concept of Marketing (Consumer-Oriented Concept).

Job Description in Market Research:

The Market Research Executives and Managers work for consultancies or in- house marketing and research departments of an organization. Professionals involved in Market Research make plans, analyze them and finally prepare reports on market research. It is purely data –oriented job. Investigating market activities and further analyzing published statistics along with past performance of a particular product and finally assessing its future possibilities and trends – are important part of the job responsibilities. They coordinate different research projects and surveys.

Market Research Job

The job profile involves lots of travelling for clients visit, canvassing, questioning large mass, interviews.

Scopes & Career Prospects in Market Research:

Scope of marketing research is very wide in industrial and commercial, advertising agencies and government or social research bodies. The scopes are huge as one may explore in Research of Products and Services, Research on Markets, Research on Sales Methods & Policies, Advertising Research and Research on Miscellaneous Activities. Even a professional may start his or her own set up as a freelance Market Researcher.

Skills & Eligibility involved in Market Research job:

Bachelor degree in Marketing Management or relevant diploma degree is suitable to start this career, though today companies are likely to prefer MBAs having sound knowledge about business strategy. Even a science and engineering degree is needed for Industrial Market Research.

And obviously some important traits are crucial to be successful like excellent analytical skills, can work in quantitative research, confident and aware about the commercials and having an eye of detailing.

Remuneration in Market Research:

At the entry level the remuneration starts from yearly $ 17,000 to $ 22,000. At the senior level that figure goes to $ 45,000 to $ 59,000 per annum.