Market Research Analyst

Job Overview

A Market Research Analyst is responsible for gathering and analysing data about market conditions, customer preferences, competitor activities, and potential business opportunities. The insights gained from this analysis are used to help organizations make informed decisions about product development, marketing strategies, and overall business growth..

Duties and Responsibilities

• Design surveys, questionnaires, and other data-gathering tools to collect qualitative and quantitative data.
• Use various data sources such as industry reports, social media, customer reviews, and public records to gather insights.
• Analyze market data to identify trends, patterns, and insights about customer behavior, competitor strategies, and market conditions.
• Use statistical software and tools to process and visualize data.
• Perform segmentation analysis, pricing analysis, and sales forecasting to assess the effectiveness of marketing strategies.
• Monitor industry trends, economic conditions, and emerging technologies to provide businesses with actionable insights.
• Keep track of competitor products, pricing, promotions, and market positioning
• Prepare detailed reports and presentations that summarize research findings and offer recommendations based on data analysis.
• Present insights to management, marketing teams, and other departments in a clear and comprehensible manner.
• Provide actionable insights and strategic recommendations based on market research findings to improve product offerings, marketing campaigns, and sales strategies.
• Advise businesses on target demographics, pricing strategies, and potential product / Service innovations.
• Work closely with marketing, sales, product development, and other teams to ensure that research findings are aligned with business goals.
• Participate in brainstorming sessions and strategy meetings to contribute market intelligence.