In the field of R&D, market research staff need to have the necessary skills to support the work in businesses. The following article will help you better understand these skills.
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What do market research staff do and how much do they earn?
A Market Research Staff will be responsible for surveying customers' preferences, behaviors, and feelings to help businesses grasp customers' consumption habits, thereby supporting product design, pricing, and promotion activities to suit customers' needs.
Market research staff will perform the following tasks:
- Understand and define goals for market research that align with overall business goals.
- Collect data from consumers, competitors and market position; synthesize information and report results.
- Conduct surveys to discover the needs of current and potential customers.
- Synthesize and analyze statistical data.
- Read data, create reports and provide solutions, research online markets to add to database.
- Analyze competitors based on products and services, market trends, pricing models, revenue and operating methods.
- Stay up to date with market trends and research from other agencies.
How much do market research staff earn?
In Vietnam, the average income of market research staff ranges from 8-9 million VND , and can be much higher if well qualified.
Potential of market research work
Besides a decent salary, Market Research jobs also offer exciting career development potential including:
- Extended Relationship : Market research work requires exposure to the developments of the market where you survey, this gives you many different relationships in society. Good relationships will facilitate your career path throughout your current and future work.
- Flexible communication skills: Exposure to a wide variety of research subjects allows you to gain rich insights and flexible communication methods appropriate to a wide range of audiences.
- A career that develops steadily and lasts with the business: Fierce competition in the 4.0 economic era requires businesses to have a market research team, with the goal of finding potential markets, maximizing consumption needs of old / new customers. Therefore, to survive and develop, businesses need to invest in market research as well as specialized staff in this field.
Necessary skills of market research staff
Market research staff will need the ability to analyze data, trends, strategies, and competitors.
- A large part of a market survey will be spent on the detailed and accurate analysis of data, so market surveyors must be highly focused, have an eye for detail, and be meticulous and meticulous with data. Because quantitative skills are so important to this field, courses in mathematics, statistics, survey sampling design, and computer science are extremely useful.
- Persistence is essential as the job requires hours of independent research and problem solving, while also collaborating with other department staff (either providing resources or using the research itself).
- Market researchers must also be able to present their findings clearly and concisely in writing and presentations.
- Have a high learning spirit because in addition to the necessary knowledge and skills of the major in business, marketing, customer behavior... you also need to have broad knowledge in many other fields.
- Market research staff need to have knowledge of social sciences including economics, psychology, sociology, and anthropology. In addition, globalization and the need to expand the market of businesses also require market research staff to have English skills to communicate with many customer files and learn foreign research, as well as update the latest trends in consumption in the world.
