What do movie trailers, car commercials, and magazine covers have in common? They are all the result of market research analysis. The job of the market research analyst is to help companies understand and improve their place in the industry. They identify the best customers, what products or services they want, how much they are willing to pay for them, and why they choose one brand over all the others. Armed with this information, companies can market their products with precision. Whether for a TV commercial, a viral video, or a packaging design, a carefully planned marketing effort based on analysis helps maximize profits.
The work of market research analysts starts with gathering data on competitors, customer demographics, and consumer preferences. They do this with traditional methodologies like surveys and focus groups, and through newer technologies like data mining and social media. They carefully word questions in surveys and polls to elicit the most meaningful responses. Once the data has been collected, the real work begins. Learn about this exciting career today!