Last Updated: November 4, 2020
All business professionals base marketing strategies and decisions on sound, well-researched evidence of market patterns and consumer behaviors. It would be considered irresponsible, and even a waste of money to plan out a marketing campaign without a clear understanding of how a campaign will affect profits.
Market research directors provide marketing managers with data to back up marketing practices. Read on to learn how research directors coordinate with teams to develop informative market reports.
What do they do?
Location and Opportunity
Those seeking careers in market research have several locations to choose from. According to Indeed.com, the following locations are most in need of market research directors:
If you’re afraid of crunching numbers, a career in market research might not be the best fit for you. Market research directors happily dive through market statistics, consumer confidence indicators, and other data points to craft business reports for marketing managers.
The marketplace is an ever-evolving beast, and market research directors must stay abreast of new shifts and changes to adjust the marketing strategies behind a product. Meeting with marketing managers, these professionals work to craft proposals and budget scenarios for marketing campaigns, ensuring the manager has enough information to make critical strategy decisions.
Because market research directors frequently engage in analysis, interviewing, and data crunching, they work with a variety of professionals, including:
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Market research directors are highly organized, with an eye for detail. They must have mathematics and statistics experience, and are able to read through the numbers to discover the tangible benefits a campaign strategy will have for a business.
Before entering their leadership positions, market research directors typically gain five to 10 years of experience in lower level research positions. Additionally, many of them earn bachelor’s or master’s degrees in marketing or statistics.
Become a Market Research Director
Companies place high value on market research directors who are able to deliver measurable results. Typically, the average salary of a market research director stands at $125,000.
If you’re interested in a career researching data and converting that data into sales leads, contact schools offering degrees in marketing.