Market Research Analyst

Business, Admin & Entrepreneurship

ANZSCO ID 225112

Summary

Market Research Analysts determine the market for new goods and services, develop advertising strategies, and evaluate the best business sites for commercial organisations.

Employment Pathway

A bachelor degree in marketing, business and management, management and commerce, psychology or another related field is usually needed to work as a Market Research Analyst.

Top Skills Required

Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one
Management of Financial Resources - Determining how money will be spent to get the work done, and accounting for these expenditures
Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making
Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times
Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems

Key tasks

Plans, develops and organises advertising policies and campaigns to support sales objectives.
Advises executives and clients on advertising strategies and campaigns to reach target markets; creates consumer awareness and effectively promotes the attributes of goods and services.
Co-ordinates production of advertising campaigns involving specialised activities within time and budget constraints, such as artwork, copywriting, media scripting, television and film production and media placement.
Analyses data regarding consumer patterns and preferences.
Interprets and predicts current and future consumer trends.
Researches potential demand and market characteristics for new goods and services, as well as collecting and analysing the data and other statistical information.
Supports business growth and development through the preparation and execution of marketing objectives, policies and programs.
Commissions and undertakes market research to identify market opportunities for new and existing goods and services.
Advises on all elements of marketing such as product mix, pricing, advertising and sales promotion, selling, and distribution channels

Facts about this occupation

11.4% Growth

71% Full-time Share

$1,758 Avg Pay/Wk

3,100 Workers

33 years Avg Age

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Required Skills

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