The main focus when working in market research is to help companies understand what types of products people want, determine who will buy them and at what price. Key to the roles is gathering statistical data on competitors and examining prices, sales, and methods of marketing and distribution, and then analyse the data on past sales to predict future sales. For many roles you need to be quite savvy with Microsoft Excel and PowerPoint, whereby the first is used for analysing the data and the second for producing reports and presentations.
In some cases the job involves devising methods and procedures for obtaining the data that is needed by designing surveys to assess consumer preferences. While a majority of surveys are conducted through the Internet and telephone, other methods may include focus group discussions, mail responses, or setting up booths in public places, such as shopping malls, for example.Read More
Most large to big businesses have their own market research teams. These teams not only conduct research themselves, but most often outsource the requests to specialised companies. In the UK alone there are well over 250 market research companies, some operating in small niche markets. In this blog I will focus on some of the most well known market research companies that operate across the globe.Read More
Based on all the feedback my readers have sent me, I have decided to write up a series of blogs about the most common subjects raised in the feedback. Each blog will focus on one specific subject and try to give a comprehensive overview.
The below chart shows an overview of the different subjects and will be used as a guideline for each feature.
A question regularly asked by many readers of my blog and people interested in market research. Although many manufacturers themselves perform market research and have good market research departments, there is a broad range of companies that have specialised themselves in market research. Some of them have specialised themselves into specific fields like consumer research, others operate in all fields from desk research, via online research to EPOS data research.
Due to the strong dynamics, competition and take overs between market research agencies, this list probably is outdated within the next year.
But I have found the following top 9 research companies based upon their international turnover in USD for 2009Read More
A reader of my blog asked me the following question: I’ve been offered an internship at this market research place, I was wondering how related it is to the advertising world in terms of the work they do. I know it gives me transferrable skills that I can use in many fields, but as a career it just feels a bit like academia, in the sense that you become world experts on a small area such as beer and then you move on to the next project. I also guess advertising is better paid and funner. Can you enlighten me?Read More
A colleague of mine is applying for masters (by research) course . She explained to me that the course is asking for a research proposal. But she has not published any papers as such. She asked my help in writing a research proposal in this pretext.Read More
One common question I get at the moment relates to real world small businesses. The following question comes from a local entrepreneur:
“Me and a friend are considering starting our own computer repair business, however we’d like to carry out some market research before deciding to invest any money. The only strategy we have thought of so far is to stand in a crowded shopping mall and ask people to complete a survey but we doubt this will be effective. I would appreciate any suggestions on other types of market research or confirmation that surveying is a good method and also how many people we should survey to make our data credible.”Read More
I did not even have time to take a rest and put away the books of the previous course. The material of the new course already arrived!
It seems we are geared up towards a heavy half year, looking at the amount of books and reading material in the box.
The new course is called Management and Business Research and will only run for half a year. There are 2 essays to write and one final End of Course Essay. All crammed into a very short period of time. No rest this Christmas. Like with the previous courses the first essay is due just before Christmas, followed by the next one early Feb. The final essay is in April.
I wonder, judging the amount of books, how we are going to fit this all in. But than again, it is a Masters Degree.
I will put up some updates as we go along, for now, it is back to the books and the planner.Read More
Finally, the first year has ended.
The last essay was all in light of SPSS, not an easy subject at all. It is not difficul to generate the results out of the system, but the explanation and understanding of the data is a complete different cup of tea.
I will try put up some separate posts specifically relating to how to read and interpret SPSS outputs sometime in the near future. However for now, the year has ended. The final part of the year consisted of an exam. The main focus on the exam was SPSS, followed by understanding of some key phrases passed throughout the year. At the end we had to write a short essay on a subject outlined in the exam paper.
After 3 hours of writing and thinking, I finally managed to hand in my examwork. Now it is waiting until December for the results. Hopefully the Open University will deliver an early Christmas present!Read More
I received this interesting question from a student at the local college.
“I need to find 50 people to respond to my market research survey for my business class. The questions involve home health care/personal care and services such as homemaking, meal preparation, yard work, transportation assistance, and respite care. Any ideas where I might find people willing to take this survey? “Read More