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What does a Market research strategist do?

by Clare Louise

The role of marketing in the business world is seen as a highly competitive application that revolves around those of a creative persuasion. The marketing team are the problem solvers, the route to market finders and the ones who a product or services succes stands and falls. What is the role of the market strategist, what is it that they do? If you are in need of a Marketing Strategy Consultant then you should look no further than https://www.reallyhelpfulmarketing.co.uk/specialist-services/marketing-strategy-consultant/ as they embody all of the best elements of the role and more. They will strive to make sure your product or service is successful.

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The market researcher has to be focused on trends and figures. They will be looking at a lot of data but this is not the only task that they have to focus on. Figures and data will give a general response but in many cases this quantitative data, although there is a lot of it, cannot explain how and why a product or service will do well. Market research analysts must go beyond the figures and the data and look deeply at what is behind the figures and this is where the skill really lies. What trends can they see or predict. Two cases in point where this failed are Buzz Lightyear and Tracy Island. The demand for these toys at christmas far outstriped supply and no one saw it resulting in a huge loss of possible revenue. This is why a good marketer has their finger on the pulse of what is cool and relevant with as many sections of society as possible but also specialising on certain aspects of it.

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The Marketeer needs to be able to present. They have to show what they have discovered in a meaningful way so as to be understood by employees of many levels. One of the other tasks they have is that they need to evaluate previous research schemes and campaigns at how effective they were. What mistakes or wins were made and how can they be repeated or avoided in future projects. Marketing is not advertising but they are close bedfellows and need each other as a mutual source of work. The combination of sales data, advertising expenditure and perceived performance is the meat and drink to the market analyst in how the review and present the information to the stakeholders present.

To sum up, the Market Analyst needs to be a presentable and dynamic communicator of data and the impact that a product or service has had on the company and society. However they are also number crunchers that need to be able to look at figures and extract something tangible from those stark numbers.