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❶You could then run targeted marketing campaigns to enhance sales to this age group on that basis.

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There are links in the left-hand side menu to compare occupational employment by state and occupational wages by local area or metro area. There is also a salary info tool to search for wages by zip code. This table shows a list of occupations with job duties that are similar to those of market research analysts. Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service.

They generally specialize in a particular product or industry. Advertising, promotions, and marketing managers plan programs to generate interest in products or services. They work with art directors , sales agents , and financial staff members. Operations research analysts use advanced mathematical and analytical methods to help organizations investigate complex issues, identify and solve problems, and make better decisions.

Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues. Mathematicians and statisticians analyze data and apply mathematical and statistical techniques to help solve real-world problems in business, engineering, healthcare, or other fields. Survey researchers design and conduct surveys and analyze data.

Public relations specialists create and maintain a favorable public image for the organization they represent. They craft media releases and develop social media programs to shape public perception of their organization and to increase awareness of its work and goals. Market Research Analysts and Marketing Specialists. Bureau of Labor Statistics, U. Friday, April 13, The What They Do tab describes the typical duties and responsibilities of workers in the occupation, including what tools and equipment they use and how closely they are supervised.

This tab also covers different types of occupational specialties. The Work Environment tab includes the number of jobs held in the occupation and describes the workplace, the level of physical activity expected, and typical hours worked. It may also discuss the major industries that employed the occupation. This tab may also describe opportunities for part-time work, the amount and type of travel required, any safety equipment that is used, and the risk of injury that workers may face. The How to Become One tab describes how to prepare for a job in the occupation.

This tab can include information on education, training, work experience, licensing and certification, and important qualities that are required or helpful for entering or working in the occupation. The Pay tab describes typical earnings and how workers in the occupation are compensated—annual salaries, hourly wages, commissions, tips, or bonuses.

Within every occupation, earnings vary by experience, responsibility, performance, tenure, and geographic area. For most profiles, this tab has a table with wages in the major industries employing the occupation.

It does not include pay for self-employed workers, agriculture workers, or workers in private households because these data are not collected by the Occupational Employment Statistics OES survey, the source of BLS wage data in the OOH. The Job Outlook tab describes the factors that affect employment growth or decline in the occupation, and in some instances, describes the relationship between the number of job seekers and the number of job openings.

The Similar Occupations tab describes occupations that share similar duties, skills, interests, education, or training with the occupation covered in the profile.

The More Information tab provides the Internet addresses of associations, government agencies, unions, and other organizations that can provide additional information on the occupation.

The wage at which half of the workers in the occupation earned more than that amount and half earned less. Additional training needed postemployment to attain competency in the skills needed in this occupation.

Work experience that is commonly considered necessary by employers, or is a commonly accepted substitute for more formal types of training or education.

The employment, or size, of this occupation in , which is the base year of the employment projections. The projected percent change in employment from to The average growth rate for all occupations is 7 percent.

Summary Please enable javascript to play this video. What Market Research Analysts Do About this section Market research analysts gather and analyze data on consumers and competitors.

As the Internet boomed, websites became larger and more complex and the possibility of two-way communication between businesses and their consumers became a reality. Provided with the capacity to interact with online customers, Researchers were able to collect large amounts of data that were previously unavailable, further propelling the marketing research industry. In the new millennium, as the Internet continued to develop and websites became more interactive, data collection and analysis became more commonplace for those marketing research firms whose clients had a web presence.

Retail outlets were appearing online and the previous need for bricks-and-mortar stores was diminishing at a greater pace than online competition was growing.

With so many online channels for consumers to make purchases, companies needed newer and more compelling methods, in combination with messages that resonated more effectively, to capture the attention of the average consumer.

Having access to web data did not automatically provide companies with the rationale behind the behavior of users visiting their sites, which provoked the marketing research industry to develop new and better ways of tracking, collecting and interpreting information.

This led to the development of various tools like online focus groups and pop-up or website intercept surveys. These types of services allowed companies to dig deeper into the motivations of consumers, augmenting their insights and utilizing this data to drive market share. As information around the world became more accessible, increased competition led companies to demand more of market researchers. It was no longer sufficient to follow trends in web behavior or track sales data; companies now needed access to consumer behavior throughout the entire purchase process.

This meant the Marketing Research Industry, again, needed to adapt to the rapidly changing needs of the marketplace, and to the demands of companies looking for a competitive edge. Today, marketing research has adapted to innovations in technology and the corresponding ease with which information is available. This demand is driving marketing researchers to develop new platforms for interactive, two-way communication between their firms and consumers.

Mobile devices such as Smart Phones are the best example of an emerging platform that enables businesses to connect with their customers throughout the entire buying process. As personal mobile devices become more capable and widespread, the marketing research industry will look to further capitalize on this trend.

Mobile devices present the perfect channel for research firms to retrieve immediate impressions from buyers and to provide their clients with a holistic view of the consumers within their target markets, and beyond.

Now, more than ever, innovation is the key to success for Marketing Researchers. Marketing Research Clients are beginning to demand highly personalized and specifically-focused products from the marketing research firms; big data is great for identifying general market segments, but is less capable of identifying key factors of niche markets, which now defines the competitive edge companies are looking for in this mobile-digital age.

First, marketing research is systematic. Thus systematic planning is required at all the stages of the marketing research process. The procedures followed at each stage are methodologically sound, well documented, and, as much as possible, planned in advance.

Marketing research uses the scientific method in that data are collected and analyzed to test prior notions or hypotheses. Experts in marketing research have shown that studies featuring multiple and often competing hypotheses yield more meaningful results than those featuring only one dominant hypothesis.

Marketing research is objective. It attempts to provide accurate information that reflects a true state of affairs. It should be conducted impartially. While research is always influenced by the researcher's research philosophy, it should be free from the personal or political biases of the researcher or the management. Research which is motivated by personal or political gain involves a breach of professional standards.

Such research is deliberately biased so as to result in predetermined findings. The objective nature of marketing research underscores the importance of ethical considerations. Also, researchers should always be objective with regard to the selection of information to be featured in reference texts because such literature should offer a comprehensive view on marketing.

Research has shown, however, that many marketing textbooks do not feature important principles in marketing research. Organizations engage in marketing research for two reasons: This distinction serves as a basis for classifying marketing research into problem identification research and problem solving research.

Problem identification research is undertaken to help identify problems which are, perhaps, not apparent on the surface and yet exist or are likely to arise in the future like company image, market characteristics, sales analysis, short-range forecasting, long range forecasting, and business trends research. Research of this type provides information about the marketing environment and helps diagnose a problem.

For example, the findings of problem solving research are used in making decisions which will solve specific marketing problems. The Stanford Research Institute , on the other hand, conducts an annual survey of consumers that is used to classify persons into homogeneous groups for segmentation purposes. Standardized services are research studies conducted for different client firms but in a standard way. For example, procedures for measuring advertising effectiveness have been standardized so that the results can be compared across studies and evaluative norms can be established.

The Starch Readership Survey is the most widely used service for evaluating print advertisements; another well-known service is the Gallup and Robinson Magazine Impact Studies. These services are also sold on a syndicated basis. All of these forms of marketing research can be classified as either problem-identification research or as problem-solving research. Primary research is conducted from scratch.

It is original and collected to solve the problem in hand. Secondary research already exists since it has been collected for other purposes. It is conducted on data published previously and usually by someone else. Secondary research costs far less than primary research, but seldom comes in a form that exactly meets the needs of the researcher. A similar distinction exists between exploratory research and conclusive research. Exploratory research provides insights into and comprehension of an issue or situation.

It should draw definitive conclusions only with extreme caution. Conclusive research draws conclusions: Exploratory research is conducted to explore a problem to get some basic idea about the solution at the preliminary stages of research. It may serve as the input to conclusive research. Exploratory research information is collected by focus group interviews, reviewing literature or books, discussing with experts, etc.

This is unstructured and qualitative in nature. If a secondary source of data is unable to serve the purpose, a convenience sample of small size can be collected. Conclusive research is conducted to draw some conclusion about the problem. It is essentially, structured and quantitative research, and the output of this research is the input to management information systems MIS.

Exploratory research is also conducted to simplify the findings of the conclusive or descriptive research, if the findings are very hard to interpret for the marketing managers. Methodologically, marketing research uses the following types of research designs: Researchers often use more than one research design. Companies that advertised on the radio began to understand the demographics that were revealed by how different radio shows were sponsored.

Data collected from these interviews were compared to the circulation of the publication in order to see how effective those ads were. Market research and surveys were adapted from these early techniques. Data collection then shifted to the telephone, making face-to-face contact unnecessary. A telephone operator could collect information or organize focus groups — and do so quickly and in a more organized and orderly fashion.

This method improved the market research model greatly. Within the last years, market research started to make a shift online. While the platform may have changed, data collection is still mainly done in a survey-style form. But instead of companies actively seeking participants by finding them on the street or by cold calling them on the phone, people can choose to sign up and take surveys and offer opinions at their leisure.

This makes the process far less intrusive and less rushed, since people can do so on their own time and by their own volition. Data science is a field of Big Data that seeks to provide meaningful A marketing plan is a business's operational document outlining Find out how stock prices are impacted by the issuance of research reports.

Determine the benefits of research to investors and the larger market. If you want to try your hand at picking stocks but don't know where to start, The Value Line Investment Survey can help.

BREAKING DOWN 'Market Research'

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Part of market research in which the preferences, motivations, and buying behavior of the targeted customer are identified through direct observation, mail surveys, telephone or face to face interviews, and from published sources (such as demographic data).

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Market research companies that provide consumer research services. Find a firm to conduct studies on household or individual consumption of a product or service.

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Consumer research, sometimes known as market research, is a valuable business tool that can help you understand your customers and what makes them tick. Market Research and Consumer Behavior from IE Business School. Your marketing quest begins here! The first course in this specialization lays the neccessary groundwork for an overall successful marketing strategy. It is separated into two.

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Market research is the process of assessing the viability of a new good or service through research conducted directly with the consumer. This practice allows a company to discover the target market and record opinions and other input from consumers regarding interest in the product. Consumer market: Consumer markets are systems that allow consumers to make purchases or products or services. The power within a consumer market in the hands of the consumer.