Are you interested in market research and keeping an eye on different trends? Do you have a keen desire to help businesses reach their full potential and improve their cash flow through sales? You can make a difference to many businesses should you choose a career in this area.
Have a look at some of the courses that are on offer for you to have a look at.
What is market research?
Market research requires you to monitor, research and gather information about customers wants and needs. It aids businesses in helping them to understand the market and how to reach their target audiences and meet the needs of different markets. It can also help businesses, companies and brands to fill a gap in the market with new and improved products.
As a market researcher you work will mostly be office based and will require research skills and analytical skills. It is typically a 9-5, Monday-Friday style of work. Your main responsibility is to identity and keep an eye on competitors while carrying out research in order to pinpoint how to improve, reach the audience and increase sales.
You will work closely with your clients to help them improve their sales, profits and business while reaching their business objectives and keeping their business relevant and in demand by consumers.
There are many courses on offer in the area across the UK. Some courses offer the opportunity to study either part time or full time. Universities may have certain restrictions in place due to Covid-19 and may offer courses online. Courses available include:
International Marketing with Consumer Psychology
Postgraduate courses in International Marketing with Consumer Psychology will deliver a strong understanding of psychological approaches and interventions in consumer-led marketing strategies. You will develop and increase your skills and knowledge in the area while becoming more aware of marketing processes to provide a detailed insight into the minds of consumers in how they feel, think and even act. Modules include Marketing Logistics, Branding and Communications, Contemporary Consumers, Research Philosophy and Practice and more.
Postgraduate courses in consumer behaviour will allow students to become equipped with knowledge in many different areas. These include consumer preferences, judgements, decision-making and their behaviour. You will have the opportunity to apply your knowledge in order to improve organisational strategy and success in relation to targets, product placement, marketing and protecting consumers. Modules include Research Design and Applied Statistics, Creating Customer Experience, Marketing Strategy, Consumer Behaviour, Psychology of Marketing and Advertising.
There are also courses available under the titles of Marketing and Consumer Psychology and multiple different courses in Consumer Behaviour which may differ in content from course to course. This is an area closely linked with Consumer Research where there are also courses available.
Entry requirements may differ from course to course or university to university. Therefore, it is important to research your specific course in detail to ensure you meet the entry requirements. As these courses are postgraduate courses, you will need a bachelor’s degree. Some courses may accept a 2.2 degree while others will require a 2.1 in a relevant degree.
- Market research consultant
- Market research analyst
- Consumer researcher
- Buyer and purchasing agent
- Management Analyst
- Research associate
Your salary in this area can be impacted by a few different things including your specific employment type, your experience and even your location of work. Starting out in this role you will earn around £20,000-£25,000. As you gain experience your salary can rise to up to £35,000. At senior level and with large companies you may earn around £40,000+. All figures are intended to be used as a guide only and are based on estimates.
- In-house marketing research departments
- Private companies
- Multinational companies
- Market research consultancies
Skills and requirements
Skills and requirements helpful in this area include:
- Excellent communication skills
- Strong verbal skills
- Strong writing skills
- Ability to work well with others
- Ability to notice and understand changing patterns and statistics
- Keep up to date with trends and statistics
- An open mind and understanding of different groups’ desires
- Research skills
- Strong organisation skills
- Good time management skills
- Analytical mind
- Numeracy skills