Market Research Project Manager - Job Role and Salary

Introduction

A business needs to create products that solve the customer's daily life problems otherwise it is impossible to sell the product if it is of no value. For this purpose, Businesses need to conduct Market Research to know about what the people need, what are their problems and what would make their lives easier and better. The Market Research Project Manager will assist the marketing team in the development and execution of market research projects in a number of industries. Their end goal is to provide marketing professionals or organisations with information that will help drive marketing campaigns and get visibility. They are an essential part of the Marketing team for any business as they shape the marketing process of the brand.

It can be said that the career scope of a Person working as a Market Research Project Manager is immense and this is only going to get broader as marketing is been adapted by a number of businesses and at a large scale.

Do You Want to be a Market Research Project Manager?

To build a career as a Market Research Project Manager you need first to understand the Job profile and responsibility of the job

This blog gives you a detailed idea of what it is like to become a Market Research Project Manager in the Marketing Industry of India.

What is a Market Research Project Manager's Job Description?

The Market Research Project Manager is responsible for managing all aspects of field activities for quantitative, qualitative, and Customer and Market research projects. The Market Research Project Manager makes sure that all Market Research projects are completed within established budgets, parameters and schedules. They work with internal clients to assess the feasibility of operational design and timeline for projects.

The daily tasks of a Market Research Project Manager include assisting in the design and evaluation of a marketing campaign in collaboration with other marketing staff, researching and developing strategies for customer retention, investigating market conditions, defining and measuring key performance indicators on customer satisfaction etc.

What are the Market Research Project Manager's Job Roles and Responsibilities?They are responsible for Handling ongoing projects on production, scheduling and quality controlOne of their duties also include Collect data, observing qualitative research and handling pilot interviews for projectsThey see to it that projects do not go over budget Refine the data collected by market research assistantsEstablish database structure for effective analysisContact Internal Client and Operations on best practices and process supportThey help to Resolve project scheduling and resource issues with cross-functional teamsThey are also required to work as a team with Program Managers and Operations Managers to execute best practices

The Market Research Project Manager requires to have a Three year college degree with majoring in business, Marketing or finance preferred, such as a Bachelor of Commerce (B Com), Bachelor of Business Administration in Marketing (BBA), Bachelor of Management Studies (BMS) etc.

If you want to have a good chance of working in a reputed organisation, A master's degree is recommendable, such as a Master of Commerce (M. Com) or MBA in Marketing or Finance. To be a Succesful Market Research Project Manager having appropriate knowledge and Experience is also very important.

IT and Computer Skills:

Computer skills are very necessary for today's day and age for any job. It is especially true for a Market Research Project Manager as most of the task in marketing is done digitally may that be finding out data and information, processing it, analysing it or managing the said data. Digital marketing is a big part of today's world and one of the requirements for any Market Research Project Manager.

2. Excellent communication and people skills:

They also need to have excellent communication and people skills in order to liaise with the clients about their requirements and inform the marketing managers and director about marketing plans, their effectiveness and the budget for the campaign. They also need to bring in new clients if necessary and also they need to convey their plans and ideas to the Managers and CEOs or any other superior Managers.

3. Strong organizational and time-management abilities:

Strong organizational and time-management abilities are a must as they need to be considerate of everyone's time in the office that they are working for and manage different tasks given at the same time and finish them by the given deadline.

4. Familiarity with social media and web analytics:

One of the biggest sectors in marketing is digital marketing which revolves around social media such as Instagram, Facebook, Twitter, snap chat etc. and "Search Engine Optimisation" to rank the website higher. To be good in both of these the Market Research Project Manager needs to be familiar with social media and web analytics. These would help them be more reputed in their career.

Work Environment and Schedule

It is most likely to be a desk job where you sit behind a computer screen trying to make sense of the data to forecast trends and brainstorm marketing ideas with the Marketing Managers, managers and directors.

However, it is not unheard of that the Market Research Project Manager has to travel and spend time on the road collecting data and doing analysis.

The Work schedule is mostly 9 to 5 but the timings can vary due to various reasons.

How much is the scope for Earnings?

The Average Salary for a Market Research Project Manager in India can range somewhere between 3 Lakh to 7 lakh INR per annum.

The Amount may vary through different Organisations, and cities depending on workflow and workload.

develop efficient and intuitive marketing strategies:

The Marketing Manager needs to create marketing strategies that work and bring in new customers for the clients and organisations that they work for.

Organize and oversee advertising campaigns:

A big part of the job is to create ad campaigns that funnel in leads and in turn increase sales.

Maintain relationships with media vendors and publishers:

Good relations are everything in a business so Maintaining relationships with media vendors and publishers is very important.

Customer Count:

The more customers a business attracts through its marketing process the better, a market research project manager's work is considered.

Return Percentage:

This marketing KPI depicts the number of customers that use your product for an extended period of time and purchase it again. You can see how engaged your consumers are by keeping track of their retention rate.

Customer Lifetime Value:

CLV is the measure of how much value the customer can bring to the Organisation for as long as that person, business or organisation remains a client

Referenceable Clients:

The Marketing Manager needs to be so good at their job that their existing clients refer the organisation to their friends and family

Customer Satisfaction:

One of the Performance Indicators is that the customers the Marketing Manager serves should be satisfied with the services that they get.

The Work of a market research project manager is to oversee the projects a marketing team takes hence you can consider this a desk job, however, some field work and travelling are required. The Jobs in this sector are said to grow in the coming years, the pay is good and if you have knowledge of marketing and business, a career as a Marketing Research project Manager can be promising for you.