Career In Market Research

Career in Market Research and Data Analysis

In the current business scenario, market research has become a noteworthy aspect of strategy development. When an organization needs to measure the effectiveness of a marketing campaign, they rely on market research data analysts to calculate the potential sales of a product or service and graph their effects. With their expertise in identifying key market statistics, market analysts assist companies to acquire information that helps in making big decisions pertaining to product development, pricing, placement and promotion of the brands. They, generally, survey a market, evaluate statistical data and forecast future trends. They devise and assess tools to collect data based upon public opinion, interviews,

For making an entry in this domain, you must have a graduation or post graduation degree in market research or a related subject. Students having a bachelor’s or master’s degree in subjects such as Statistics, Maths, Business Administration, Business Communication, social sciences or Computer Science can also make career in this field. Students can also pursue Diploma or P.G. Diploma courses in market research after 10+2. Apart from this, if you are a keen observer, or have good spoken and written communication, problem-solving and time-management skills, team oriented spirit, and ability to evaluate and interpret statistics and other data, this could be an ideal job for you. Initially, you could start as an intern or a junior research analyst or research assistant in private or government firms, and with the right experience and skills, you may be able to work your way

Senior Analyst: Serves as an expert in the development of projects and directs the operational delivery of the assigned projects. He works in coordination with the junior analysts and other specialists in designing the questionnaires and final report.

Junior Analyst: Manage a large number of internal assignments on a daily basis. A junior analyst is responsible for secondary data analysis, statistical analysis, editing the questionnaires, and plays a crucial role in presentation development.

Project Manager (Senior): The work of a project manager is to develop, implant and manage the market research projects.

Field Work Director: He assists in recruitment, training, quality management, and assessment of telephone and face-to-face interviewers and other field workers.

Salary Package

In the Indian employment market, market researchers get lucrative pay packages. Those who have finished a master’s degree or a doctorate in market research can earn a fat pay packet. A market data analysts that employed as a junior assistant earns between Rs. 15, 000 to Rs. 20, 000 per month. Whereas an MBA or master’s degree holder can earn around Rs. 30, 000 plus a month. Salary increases with experience and top earners receive more than Rs. 1.00 lakh a