Market Research Executive

Introduction

Market research executives collect, analyse, interpret and present information in order to explore the potential market for a product or service. This may involve organising surveys or opinion polls, analysing statistics or negotiating with clients.

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Work Activities

Market research executives take responsibility for the collection, analysis, interpretation and presentation of information relating to the potential market of a product or service.

Typical research on behalf of a company manufacturing consumer goods might include assessing national purchasing trends, the performance of major competitors or the effectiveness of current advertising methods.

Having discussed the exact nature of the information required, the research executive prepares proposals outlining the techniques by which data is to be collected, the size and nature of sample populations (the people who will be the subject of the research) and an estimate of the costs. If these proposals are accepted, the research executive co-ordinates the project. For example, in a survey, the research executive may have to select and train interviewers, design questionnaires and liaise with market research analysts about the statistical analysis of data.

For projects requiring a wholly qualitative approach or continuous monitoring, the research executive would have to co-ordinate and organise things differently, perhaps getting directly involved in the collection of data. When the results of projects are collated, the market research executive usually makes the final presentation of its major findings and recommendations to the employing organisation's senior marketing managers.

Research on behalf of a company in the industrial market is different from consumer research. Although some agencies specialise in industrial research, the highly technical nature of the products concerned makes it more likely that the company would employ its own research executives to undertake the work. There is greater emphasis on personal contact to assess customer reaction, with in-depth discussion of the current levels of quality and performance.

Many of the findings cannot be expressed using statistical data as they are more a matter of personal judgement. Senior management often expect the research executive to use forecasting techniques to make long-term predictions about future trends in the market.

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Personal Qualities and Skills

As a market research executive, you'll need excellent organisational skills in order to budget, plan, research, analyse and interpret market research information. You should be resilient, self-motivated, and prepared to liaise with others in the decision making process.

Market research executives should have good communication skills, both written and oral, and be able to persuade others of their findings. You must be prepared to work as part of a team.

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Pay and Opportunities

The pay rates given below are approximate.

Market research executives earn in the range of £18,000 - £25,000 a year, rising to £30,000 - £36,000. Higher earners can make around £40,000 a year.

Market research executives usually work a 39-hour week, Monday to Friday.

Employers are market research agencies that are, in turn, commissioned to do research by a wide variety of organisations, such as manufacturers, large retailers and political organisations. Some of these organisations have their own market research departments.

There may also be opportunities in local government and in various departments of the Scottish Government.

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Adult Opportunities

It is now illegal for any organisation to set age limits for entry to employment, education or training, unless they can show there is a real need to have these limits.

Some entrants have developed relevant skills by working, for example, in marketing, advertising, statistics or economics.

Skills in market research might have been gained, for example, as an assistant or interviewer. Other entrants might have skills gained in social/economic research survey work or handling statistical data.

The Market Research Society offers relevant courses at Certificate, Advanced Certificate and Diploma level. The MRS Advanced Certificate and Diploma qualifications can be studied by distance learning.

If you don't have the qualifications needed to enter your chosen degree or HND course, a college or university Access course (eg, Access to Business) could be the way in. These courses are designed for people who have not followed the usual routes into higher education. No formal qualifications are usually needed, but you should check this with individual colleges.

Funding for postgraduate courses in marketing/market research is available through universities from the Economic and Social Research Council.

• 23% of people in occupations such as market research executive work part-time.
• 8% have flexible hours.
• 9% of employees work on a temporary basis.

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