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JOB DESCRIPTION AND RESPONSIBILITY
KEY RESULT AREA(KRA) & KEY PERFORMANCE INDICATOR(KPI)

MARKET RESEARCH

Ultimate guide on how to become a market research associate

Introduction
Skills & Abilities
Job Description
role & Responsibilities
​Eligibility
Key Result Areas
Key Performance Indicators
Work environment
Salary package
Conclusion
FAQs
Explore Job opportunities
how to become a market research associate

Introduction

If you’re considering how to become a research associate, particularly a Market Research Associate, you should know that they work in the Marketing department of a Business organisation. Their work mainly focuses on helping the marketing Managers and the marketing director by providing them with Data and market analytics that they can use for further market study and implement effective marketing strategies. A Market Research Associate, or otherwise known as a market research assistant, mainly works to collect information through interviews, focus groups, and questionnaires.

A Market Research Assistant is found working in a number of industries such as healthcare, industrial products, entertainment sectors and so on. Therefore, it can be said that the career scope of a person working as a Market Research Associate is immense and this is only going to get broader as marketing is being adapted by a number of businesses and at a large scale.

Do You Want to be a Market Research Associate? To build a career as a Market Research Associate, you need first to understand the Job profile and responsibility of the job. This blog gives you a detailed idea of how to become a research associate, specifically a Market Research Associate, in the Marketing Industry of India.

Skills and Abilities

1. IT and Computer Skills:

Computer skills are very necessary for today’s day and age for any job. It is especially true for a Market Research Associate as most of the task in marketing is done digitally may that be finding out data and information, processing it, analysing it or managing the said data. Digital marketing is a big part of today’s world and one of the requirements for any Market Research Associate.

2. Excellent communication and people skills:

They also need to have excellent communication and people skills in order to liaise with the clients about their requirements and inform the marketing managers and director about marketing plans, their effectiveness and the budget for the campaign. They also need to bring in new clients if necessary and also they need to convey their plans and ideas to the Managers and CEOs or any other superior Managers. 



3. Strong organizational and time-management abilities:

Strong organizational and time-management abilities are a must as they need to be considerate of everyone’s time in the office that they are working for and manage different tasks given at the same time and finish them by the given deadline.

4. Familiarity with social media and web analytics:

One of the biggest sectors in marketing is digital marketing which revolves around social media such as Instagram, Facebook, Twitter, snap chat etc. and Search Engine Optimisation to rank the website higher. To be good in both of these the Market Research assistant needs to be familiar with social media and web analytics. These would help them be more reputed in their career.

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Job Description

The primary job of any Market Research Associate is to gather information by researching industry trends, collecting data from surveys, and conducting interviews with potential and existing customers to get their opinions and feedback. additional duties for market research associates may include developing presentations, creating project timelines, proofreading documents, and entering data in spreadsheets, while Some associates also edit research databases and maintain direct contact with clients.

As they are a part of the organisation’s marketing team they also have to be a team player to work efficiently and contribute to the organisation. A market research assistant works directly with a marketing manager and hence should have good organisational skills to keep everything in place. They also deal with tasks related to advertising and sales. The objective of their work is to analyze the data collected, determine marketing opportunities and problems, handle correspondence for the different projects, communicate with stakeholders, deal with logistics, prepare documentation for research, and generally evaluate marketing actions.

 

Job Roles and Responsibilities

  • They collect and analyze data through modern and traditional methods on consumers, competitors and the market as a whole
  • They create custom market research projects that are qualitative and quantitative
  • Perform market analyses to identify opportunities for product expansion
  • Use statistical techniques to interpret data and produce results and substantiated recommendations
  • Their other task include Prepare reports of findings, illustrating data graphically and translating complex findings into written text and presenting results
  • They are also responsible to use the data to recommend good effective methods of market penetration
  • Proactively share and present market research reports and data analysis with the marketing manager and the Marketing Directors
  • Research competitors and compile data for comparison
  • Develop strong partnerships with important and relevant businesses in the market
  • Advise management on new innovations in the area of market research
  • Find new ways to meet the needs of a changing marketplace

Eligibility

The Market Research Associate requires to have a Three year college degree with majoring in business, Marketing or finance preferred, such as a Bachelor of Commerce (B Com), Bachelor of Business Administration in Marketing (BBA), Bachelor of Management Studies (BMS) etc. 

If you want to have a good chance of working in a reputed organisation, A master’s degree is recommendable, such as a Master of Commerce (M. Com) or MBA in Marketing or Finance. To become successful and get to the top in the marketing industry you need experience and This position gives the opportunity to learn about the sector in a starting position.

  • Develop efficient and intuitive marketing strategies:
    • The Marketing Associate needs to create marketing strategies that work and bring in new customers for the clients and organisation that they work for.
  • Organize and oversee advertising campaigns:
    • A big part of the job is to create ad campaigns that funnel in leads and in turn increase sales.
  • Maintain relationships with media vendors and publishers:
    • Good relations are everything in a business so Maintaining relationships with media vendors and publishers is very important.
  1. Customer Count:
    2. The more customers a business attracts through its marketing process the better, a Market Research assistant’s work is considered.
  2. Return Percentage: 
    3. This marketing KPI depicts the number of customers that use your product for an extended period of time and purchase it again. You can see how engaged your consumers are by keeping track of their retention rate.
  3. Customer Lifetime Value:
    4. CLV is the measure of how much value the customer can bring to the Organisation for as long as that person, business or organisation remains a client
  4. Referenceable Clients:
    5. The Marketing Assistant needs to be so good at their job that their existing clients refer the organisation to their friends and family
  5. Customer Satisfaction:
    6. One of the Performance Indicators is that the customers the Marketing Associate serves should be satisfied with the services that they get.

Work Environment and Schedule

This is a multifaceted job that may demand you to operate alone or with a team at any given time, this job is mostly a desk job where you might need to spend most of your time behind a computer screen however travelling is fairly common for conducting interviews and analysing the market.

The Work schedule is mostly 9 to 5 but the timings can vary due to various reasons.

How much is the scope for Earnings?

The Average Salary for a Marketing Associate in India can range somewhere between 4 Lakh to 5 lakh INR per annum.

The Amount may vary through different Organisations, and cities depending on workflow and workload.

It is a starting position job which requires some effort to get promoted to the top, you can very well start at this position with great pay. If you have knowledge of marketing and business, a career as a Marketing Research associate can be promising for you.

Q1: What is a Market Research Associate?

A1: A Market Research Associate is a professional who provides data and market analytics to help implement effective marketing strategies.

Q2: What industries can a Market Research Associate work in?

A2: They can work in various industries like healthcare, industrial products, and entertainment sectors.

Q3: What is the main responsibility of a Market Research Associate?

A3: Their main responsibility is to collect information through interviews, focus groups, and questionnaires.

Q4: What is the career scope for a Market Research Associate?

A4: The career scope is immense and is expected to grow as more businesses adapt to marketing.

Q5: How can one become a Market Research Associate?

A5: One needs to have a strong understanding of market analytics and a background in marketing or a related field.

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