Market Research Analyst Job Description Template

A market research analyst is the “ears” of the company. They asses the market(s) of the business to ascertain what customers exist, what they want, and what they will pay for a product/service. This also extends to the competitive environment and how the company is positioned within its marketplace.

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In practice, a market research analyst’s role is to gather intelligence, analyze it, and then present the findings across the organization in an actionable manner. This data can be collected from a range of qualitative (e.g., customer feedback) and quantitative (e.g. financial reports) sources, often in a creative manner. They work to both reinforce the organization within its current segments and continually maintain a forward-focused approach to uncover new commercial opportunities for the future.

As such, the role needs to combine a strong technical skill set with the mindset of someone that can look at the bigger picture and translate data into tangible action plans.

Technological advancements have made the role of a market researcher more important to an organization. Firstly, markets are now more competitive in terms of entry and innovation; incumbents cannot just sit back post-launch and rest on their laurels without running the risk of being disrupted by new competitors. Secondly, the advent of more engaged interaction with customers via internet and mobile-based technologies offers companies a whole range of invaluable primary data collection methods to help hone their offerings.

Market Research Analyst - Job Description and Ad Template

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Company Introduction

{{Write a short and catchy paragraph about your company. Provide information about the company’s culture, perks, and benefits. Mention office hours, remote working possibilities, and anything else that makes your company interesting.}}

Job Description

We are looking for a market research analyst to provide us with cutting-edge insight to help drive our business forward with data-driven decision making. You will help us to fully understand our competitive positioning within our market and work with our business development teams to plan our future commercial steps. The ideal candidate will have a strong broad technical and analytical skill set with a commercially focused mentality.

Responsibilities

Data Gathering:

  • Translate business objectives into research steps {{e.g., questionnaires, focus groups}}

  • Work cross-functionally to build relevant primary research collection tools for customers

  • Identify and collect relevant data points, for example:
    • Consumers: Demographics, buying habits, needs, and price points
    • Competitors: Pricing structures, current tactics, and sales channels
  • Construct and maintain a central database for recording market data. You will be expected to monitor the quality of the data, continually implement improvements, and train appropriate staff as necessary

  • Consistently exercise independent judgement and discretion in research matters

  • Maintain a PR presence for the business within appropriate external arenas, for example, trade shows, media appearances, and panel discussions

Analytics and Reporting:

  • Deploy statistical modeling techniques to analyze data and forecast future trends

  • Use integrity measures {{for example: null hypothesis testing}} to check quality of recorded data

  • Prepare and submit regular reports to the {{head of marketing}} that summarizes fundings in a digestible, graphical, and actionable manner

  • Attend {{weekly sales meetings}} and present your research

  • Build out internal communication channels to keep the wider business updated with market news

  • Work with the teams to devise future commercial strategies based upon your findings

Skills and Requirements

  • Minimum of a bachelor’s degree, preferably within psychology, sociology, statistics, communications, or marketing

  • 2-5 years of direct experience within similar roles

  • Excellent IT skills across the Microsoft desktop suites and the following:
    • Statistical software packages: {{SPSS, SAS, R or Stata}}
    • Database manipulation {{SQL}} and CRM management
    • Advanced data visualization methods: {{Tableau, Business Objects}}
  • A natural curiosity and a “big picture” mentality

  • Excellent spoken and written communication and the tenacity to hold an argument

  • Ability to collaborate cross-functionally, with people of all levels

How to Hire a Great Market Research Analyst

High-quality market research is a necessary tool to help startups find the right product/market fit and to help larger companies maintain it. This guide provides a breakdown of the key skills and attributes you'll want to see in a market research analyst.

Read Hiring Guide

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