Market research managers coordinate the collection, analysis, interpretation, and presentation of information about the needs and trends of a community.
They typically work for a company that makes items to sell to the public, and their research may include analysis of:
- Current trends.
- The performance of the main competitors.
- Public opinion about a new product.
- The effectiveness of current advertising.
Market research managers need to establish good relationships with clients. First, they analyze the exact type of information they need. Next, they prepare a proposal stating:
- The data collection methodology.
- The number and type of people who are the subject of the investigation.
- The time necessary to carry out the project.
- Estimating the costs of all parts of the project.
If the proposal is accepted, the director is in charge of coordinating the project. For example, in a survey, the consultant should:
- Train and select interviewers.
- Design the questionnaires.
- Keep in touch with the customer
- Be in contact with the market study analysts to carry out the statistical analysis of the data.
For projects that require qualitative research, the market research manager has to coordinate and organize the process through another process. You may need to be directly involved in data collection, using focus groups, interviews, or patient observation.
When the results of the projects are collected, the director of market studies must write a report. They can assist a senior account manager to make the final presentation of key findings and recommendations to the client.
Market research managers who conduct market research for companies in the industrial world conduct different studies than those required for consumer-directed market research. Although there are companies specialized in industrial market studies, the highly technical nature of industrial products often means that the company uses its own analysts to carry out the market study.
There is a greater emphasis on personal contact when evaluating customer feedback, with an in-depth discussion on current levels of quality and performance. Many of the results cannot be expressed using statistical information, as they are too subjective.
Other types of market research are carried out using opinion polls, which cover a wide range of topics, from opinions on politics or economics and voting trends, to the degree of support for the royal family, for example.
Central and regional governments sometimes use market research to find out people’s opinion on issues such as environmental policies or planning proposals.