Market Research and Analysis

As a market researcher or analyst, you analyse market conditions and study the demand and sales of products and services. You will provide advice to companies to decide what to produce and how to sell it in the market.

What do Market Researchers or Analysts do?

Market researchers monitor and predict current and future market trends. They conduct surveys and collect data in order to analyse the market trends and interpret these figures to the company. Another important duty or responsibility is to analyse the current marketing and sales patterns of the company and recommend new strategies if changes are required.

What does a typical day at work involve?

  • Checked Monitoring and forecasting marketing and sales trends
  • Checked Measuring the effectiveness of marketing programs and strategies
  • Checked Conducting research on customers’ opinions, buying habits, preferences and wants/needs
  • Checked Devising and evaluating methods for collecting data, such as surveys, questionnaires, and opinion polls
  • Checked Providing input into developing and modifying systems to meet client needs
  • Checked Developing business specifications to support these modifications
  • Checked Gathering data about consumers, competitors, and market conditions
  • Checked Studying the competition’s prices, sales numbers and methods of marketing and distribution or provide trainings to the junior sales executives
  • Checked Analyzing data using statistical softwares and data driven tools
  • Checked Preparing reports and presenting results to clients and management

How to become a Market Researcher or Analyst?

Step 1
Take any stream at +2

You can take any stream at +2 level but taking commerce stream is preferred as it may give you a proper orientation towards the field.

Step 2
Take BA/BSc Economics, Statistics, B.Com, BBA or BSc Maths

You may pursue a bachelor’s course in Economics/ Statistics or Maths or take a BBA/ B.Com degree. You can also pursue B.Sc Marketing (Hons) or other Marketing Specialization degrees or Diploma in Marketing.

Step 3
Take MBA or Masters in Marketing Research

Masters in Business Administration or Masters in Marketing Research, which spans for two years, can be taken up after graduation.

Market Research and Analysis Colleges

Name State District Type Website Course

Requirements for masters in market research and analysis

Requirements for admission into a PG course in one of the top institutions to help you get an overall picture

India (MBA in Marketing from Symbiosis Institute of Business Management, Pune)

  • A bachelor's degree from any recognised University with a minimum of 50% marks or equivalent grade
  • Symbiosis national aptitude test (SNAP test)
  • Written ability test and personal interview

Foreign (MSc Business analytics from Warwick university)

  • A bachelor’s degree in a relevant subject from a recognized university
  • GMAT/GRE
  • Language proficiency requirements:IELTS:7.0 TOEFL:100

To see the entrance exams, scholarships and UG admission details, click here

Skills Required

Analytical Skills

A market researcher and analyst will be using their strong analytical skills to convert raw data to into actionable insights and trends for their clients’ business.

Strategic Thinking

Its necessary for market researcher and analyst to possess strategic thinking skills as they need to understand how other people think and behave,thus to predict their needs.

Verbal/Written Communication Skills

A market researcher and analyst should have good oral and written communication skills as their job is to effectively communicate with the research subjects either through interviews or quantitative surveys. They also need to present their analysis to clients in a well documented, actionable, and visually attractive report that helps the clients to make informative decisions.

People skills

A market researcher and analyst will be meeting variety of people while conducting interviews and focus groups. They need to make sure that research subjects feel comfortable and relaxed when they are with them as there is a possibility that their answers might be different if they feel under pressure during interview.

Critical thinking

A market researcher and analyst will be striving to find insights based on critically evaluating the facts and data they collect not on pre-informed opinions or societal stereotypes.

Detail Oriented

Market research analysts must be detail oriented because they often do precise data analysis to decide market trends.

Industries

  • Checked Scientific/Technical Services
  • Checked Finance and Insurance
  • Checked Education Services
  • Checked Communication Industry
  • Checked Wholesale Trade
  • Checked Company and Enterprise Management

Top Companies

  • Checked Amazon
  • Checked Google
  • Checked Wipro
  • Checked Flipkart
  • Checked BYJU’S
  • Checked Myntra
  • Checked Unilever
  • Checked NDTV
  • Checked Robert Bosch
  • Checked IBM
  • Checked Futures First
  • Checked Frost and Sullivan
  • Checked Tata Consultancy Services