Monday, May 27, 2013

The ‘Insight’ Scoop into the Job of a Market Researcher

A market researcher’s job is crucial to the success of marketing. Market research can identify market trends, demographics, economic shifts, customer's buying habits, and important information about competition. Knowing this information is essential to the success of your business as it will guide you in making strategic business decisions, uncovering unmet customer needs, and in many cases, help you discover new ideas.

At TMRE 2012 last year, IIR’s Marc Dresner sat down with Frederic John, Senior Business Leader, Global Intelligence Team, MasterCard, Principal at C Frederic John & Associates, Vice President, Esomar, in an exclusive interview to discuss the changing role of the market researcher and the increasing need to the specific market research candidates.

According to John, the industry can no longer rely on people stumbling into the profession as it has done historically. Market research has been lucky historically that it has attracted people out of three groups including, people with quantitative statistical skills; people with psychology or sociology backgrounds; and a people including who simply fell into the field, realized they loved it and never left.

“The reality is we have benefited from these generalists who didn’t go in with a math or psych background, but were able to learn the basics and then apply a lot of other characteristics and skills to their projects. So, it is very important for us to make an active effort to get these people to consider us,” he explained.”

So, what makes a great market researcher?

“I think disposition is more important than discipline,” said John. He believes that what truly makes a successful market researcher is someone with curiosity, who likes to solve puzzles, and who is interested in understanding how things work. This requires people who really are trying to get at the nuts and bolts of what’s driving human behavior.

“Our greatest contribution to business is essentially understanding consumer motivation - getting at what people do, why people do things, and ultimately why they change or what may get them to change behavior,” commented John.

John shared some advice to fellow market researchers: “You’ve got to have fun on the job!” he said. “We’ve all been on projects that send us home depressed. But, most of the time, you’ve got to enjoy what you are doing.”

To watch the full interview, click here:

Stay tuned for more on this topic at the upcoming TMRE 2013 in Nashville!

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