Decide what goods a retail store will sell, and how they will be marketed.
Businesses pour huge amounts of money into advertising. But if the ads they pay an arm and a leg for don’t reach the eyes and ears of their target market, it could be enough to sink the company. So they often invest a little more and pay a Market Research Director to help them hone their marketing plan.
As a Market Research Director, you help the company better understand its customers. To do that, you supervise a team that gathers information about the incomes, gender, and buying habits of potential customers. This is done through surveys and analysis of purchasing history. Then you take that information and present a proposal to the CEO, Marketing Manager, or other Representative of the company.
In addition to evaluating how the customer feels about a product or service, another responsibility of your Market Research Director position is to have a holistic view of the industry. That means studying the competition, gathering information about advances in the field, and understanding recent trends that might affect your client’s ability to be successful.
Because you’ve done your research, you advise your clients about the best ways to reach their customer base and their sales goals. Whether it be a combination of emails, coupons, and mailings, or a rented billboard space, your clients rely on you to get the information to the buyer and increase sales for the company.