I loved research. I love learning about people, and how they adapt and behave. I loved the constant challenges, and the expectation to be creative in my approach to solving problems and find solutions that were practical, relevant, and useful.
I loved becoming a ‘jack of all trades’ – not only did I gain an understanding of how market research companies work behind the scenes, but also picked up knowledge on project management, and data analysis (yes, math is your friend).
Advanced Excel skills (I could do amazing stuff with pivot tables!), programming skills (I’m no Python or Java expert yet), and presentation/communication skills.
There was not a day that went by where I wasn’t challenged by something: a complex brand positioning brief for a client;
Managing too many projects in too little time; designing surveys for different audiences; analyzing survey data to discover insights & trends; compiling decks with the findings from the data analysis in a manner that would resonate with clients…the list is endless.
| Takeaways |
|---|
| 1. Embracing Data-Driven Insights |
| 2. Understanding Consumer Behavior |
| 3. Tailoring Marketing Strategies |
| 4. Identifying Niche Opportunities |
| 5. Continuous Learning and Adaptation |
The Constant Challenges And Expectation To Be Creative
Another thing I loved about marketing research was the constant challenge to be creative. I don’t know about you, but for me, being challenged to be creative is one of the best things in the world.
The constant expectation to be creative and innovative helped me develop my skills as a market researcher. It also helped me become more aware of what types of questions people wanted to be answered to make their lives easier or better.
Understanding your customers’ desires is crucial for effective marketing. Learn how to gather insights and create customer-centric strategies in our guide on getting a clear picture of customer preferences.
The Data/Information Gurus I Encountered
It’s the people I met who were working on the cutting edge of data analysis, which is a pretty exciting place to be in general. I had the opportunity to interact with some of these people and see what they do, and it was eye-opening.
It taught me that there are lots of different roles within marketing research from analysts who focus on digging through existing data sources, looking for insights that can inform marketing decisions;
To data scientists who use machine learning techniques to build models that predict behavior or make recommendations;
Or even engineers who work with massive amounts of raw information but don’t necessarily need all the math skills required by actual computer science majors (such as myself).
I also loved learning about how each person worked differently depending on their interests and skillsets that’s something we don’t get much exposure to at school because our classes aren’t organized by job title.
It helped me realize how broad this field is: you might start out thinking your passion lies in managing surveys from beginning to end but eventually discover an interest in building models instead because it’s more interesting work for you at this point in life!
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The Many People I Met, Who Contributed To Making Me A Better Persons
In marketing research, you will meet the most interesting and diverse people you’ve ever met in your life. It is a field that attracts some of the most passionate and driven individuals who are willing to go above and beyond for their job.
The people you’ll meet in this field will have a positive impact on your life regardless of whether or not you stay in it.
There are always lessons to be learned from others whether they are experienced professionals or recent graduates and being exposed to so many different types of personalities can only make you a better person!
Getting Paid To Travel And View The World From A Different Perspective
In marketing research, you get paid to travel and see the world from a different perspective. Who doesn’t want to travel the world?
I’m not saying that everyone should quit their job and become a market researcher, but it’s worth noting that this is one of the benefits of being in this field.
When I worked as a car market researcher, I saw some amazing places: New York City and Chicago were two cities that stuck out to me (I had never been there before). There are also many other great places in America where we went for research purposes.
For example, we went to San Diego for an Auto Show and learned about what was trending with consumers when it came to car-buying decisions.
We even got paid to go on vacation! If you’re interested in traveling abroad then there are opportunities for overseas work as well (we did this once too).
There are so many other benefits when it comes to being part of such an exciting industry as Marketing Research! Instead of just listing them here though…you should get out there yourself so everyone else can enjoy them with you!
Being Able To See The Relationship Between What I Was Doing In My Job And The Larger Picture Of Business, Brands And Business Strategies
As a market research professional, you’ll be able to see the relationship between what you’re doing in your job and the larger picture of business, brands, and business strategies.
You also will be able to understand the nuts and bolts of ‘marketing’ in our day-to-day lives: from a brand’s marketing strategy to why we buy things (or don’t).
Crafting effective questions is a key skill in marketing research. Uncover techniques to gather valuable insights in our post on questioning strategies for effective marketing.
Expanding On My Analytical Skills
As someone who’s always enjoyed numbers, I found that market research is a great way to expand on your analytical skills.
It can be difficult to get good at something for the first time, but when you start learning about marketing research and how it works, it will feel like second nature in no time.
The best part about market research is that you’ll learn how to create a problem from scratch by breaking down the problem into smaller parts and then coming up with solutions for each of those parts.
This method of thinking analytically will help you think more creatively and critically as well!
Working With People Who Were Experts In Their Own Right
In my experience, most people in the research industry are incredibly bright and motivated. They love learning, and they love sharing their knowledge with others.
It’s easy to get caught up in the flow of ideas that comes from working with people who are experts in their own right.
I’ve been lucky enough to work with some of the brightest minds in marketing research during my career people like Dr. Robert Biddle from Penn State University and Dr. James Athey from Duke University
Seeing How An Idea Gets Implemented Into A Business Strategy
One of the things I enjoyed about marketing research is seeing how an idea gets implemented into a business strategy. It was also fascinating to see how market research companies work behind the scenes, and how they help shape a company’s strategy.
To develop a business strategy, we first need to understand what our customers want. We do this by conducting customer interviews and surveys on their preferences regarding different product features, price points, channels of distribution, etc.
The results from these activities are then analyzed by our data analysts who provide us with key insights into what customers want so that we can make informed decisions about which products should be developed or improved upon within our existing portfolio of offerings.
We also conduct competitor analysis to determine where there are opportunities for new products or services within specific industry segments based on trends being observed by other companies in those markets (such as mobile payments).
By using this information from multiple sources (e-commerce websites like Amazon), we’re able to create comprehensive reports containing valuable insights into consumer behavior across all channels including brick-and-mortar stores as well as online shopping platforms like eBay.
Explore innovative ways to conduct market research with engaging tools like bingo cards. Dive into the potential of this method in our discussion on using bingo cards as a marketing research tool.
Working With Some Amazing Project Managers Who Ensured That The Projects Stayed On Track And Completed On Time
Project management is key to the success of any project. The project manager is responsible for ensuring that the project is completed on time, on budget, and meets all of the goals set out in the original proposal. It’s a tough job!
In my experience, there are two types of project managers: those who have been in their position for many years and have navigated through many seas with different ships;
Then there are those who seem to be thrown into deep waters without any prior experience or knowledge about how to swim. I am fortunate enough to work with some amazing project managers who fall into the former category!
Meeting Folk From All Over The Country
One of the most rewarding aspects of marketing research is getting to meet and work with people from all over the country. I’ve worked with surveyors who are in their 70s, others who are fresh out of college, and a few that have been working in the field for over 20 years.
This broad-spectrum allows me to learn so much about different backgrounds and experiences. It also gives me opportunities to make new friends (as well as reconnect with ones I already knew).
I love hearing how someone from Massachusetts went off the beaten path when they were younger, or how another’s family has been living in Florida for generations. And don’t get me started on all of my coworkers who were born outside this country!
They share such fascinating stories about what life was like back home before coming here and now they love living here too!
Having Absolute (And Almost Immediate) Access To The CEO Of Companies! It Was Incredible
The thing I loved most about marketing research was the access I had to CEOs and senior executives of companies. It was incredible.
If a question came up or something needed to be clarified, it was a quick email or phone call away. And if I sent over deliverables for feedback, they usually responded within 24 hours.
I also really appreciated how quickly we could get answers to questions from clients; sometimes within minutes!
Often we could even get confirmation on whether or not data was good enough before spending time cleaning and preparing it for analysis and this saved us SO much time in the long run!
Understanding How Market Research Companies Work Behind The Scenes
Market research companies are a lot of different things, which means that no two market research companies are the same. What is the same, though, is how they function.
If you want to understand how market research companies work behind the scenes and why they operate in a certain way, some key factors should be considered:
- Market research companies are structured as corporations with shareholders and directors who manage them on behalf of their investors
- Market research companies are run by professional managers who have business degrees or MBAs
- Market research companies employ researchers in varying fields from psychology to sociology to economics and use this multidisciplinary approach when conducting studies or analyzing data
- Market research companies rely heavily on technology for project management and analysis
Market research doesn’t have to break the bank. Learn how to gather valuable insights without spending a dime in our guide on conducting cost-effective market research.
Conclusion
The point I’m trying to make here is that marketing research is much more than just a collection of data and statistics.
It’s a career that requires you to think critically about the questions you’re asked and figure out ways for the business owners or managers who hire you to get answers from their customers so they can improve their products or services.
If this sounds like something you’d be interested in doing, then maybe consider giving this field some more thought!
Further Reading
Here are some additional resources to explore on the topic of market research:
5 Things I Learned from Working in Market Research Short Description: Gain insights from someone’s firsthand experience in the field of market research, highlighting key lessons and takeaways.
4 Reasons I Love Working in a Market Research Firm in Syracuse Short Description: Discover the reasons why professionals enjoy working in a market research firm, with a focus on the context of Syracuse.
Top 10 Reasons Why You Need Market Research Short Description: Explore the essential reasons behind the importance of integrating market research into your business strategies.
FAQs
What are the key takeaways from working in market research?
Working in market research offers valuable insights into consumer behavior, industry trends, and data analysis, which can inform strategic decision-making and business growth.
How does a market research firm contribute to business success?
A market research firm provides specialized expertise in gathering and analyzing data, enabling businesses to make informed decisions, identify opportunities, and understand their target audience better.
Why is market research important for businesses?
Market research helps businesses understand customer needs, preferences, and behavior, allowing them to tailor products, services, and marketing strategies for maximum impact.
What are some common benefits of conducting market research?
Market research can lead to improved product development, enhanced customer satisfaction, better competitive positioning, and a higher likelihood of successful marketing campaigns.
How can market research data drive strategic planning?
Market research data provides actionable insights that guide strategic planning, helping businesses allocate resources, identify growth areas, and make informed decisions based on data-driven evidence.
What Is Marketing Research?
Marketing research is a process of gathering information about customers and their needs, preferences, and behaviors. It helps marketers understand their target audience and develop strategies to reach them more effectively.
Why Do We Need Marketing Research?
The main aim of marketing research is to help companies identify and understand their customers better. This helps them identify what products or services the customers want, how they can improve their products/services, and how to reach out to the customers.
What Are The Different Types Of Marketing Research?
There are many different types of marketing research techniques that are used by companies around the world.
They include surveys, focus groups, in-depth interviews, observation studies, etc. Some of these techniques are more suited for certain types of businesses than others so you must choose one that will work best for your business model.
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.
