How to Be Market Research Intern - Job Description, Skills, and Interview Questions

Jan 11, 2020 / 5 Minutes Read / By Albert

How to Become

Professional Organizations

FAQ

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The lack of an effective market research strategy can have serious consequences for a business. Without insight into customer needs and preferences, it is difficult to create effective marketing campaigns, launch new products and services, or develop targeted pricing strategies. Additionally, without the ability to assess the competitive landscape and understand the latest industry trends, businesses are at a disadvantage when competing in the market. As a result, businesses that fail to invest in market research are missing out on opportunities for growth and may even face a decline in market share.

Steps How to Become

Research the Market Research Intern Role. Before applying for a market research intern role, it is important to understand the responsibilities and qualifications associated with the position. Research the job description, required qualifications, and other expectations associated with the role.
Obtain Relevant Education & Experience. Most market research intern roles require at least a bachelors degree in a relevant field such as marketing, statistics, or economics. Additionally, many employers look for interns who have some experience in market research, such as an internship or other work experience.
Update Your Resume & Cover Letter. Once you have a good understanding of the role and its requirements, it is time to update your resume and cover letter. Focus on highlighting your relevant education and experience, as well as any skills or qualifications that make you stand out.
Apply. Once your resume and cover letter are ready to go, start searching for market research intern roles and apply to those that match your qualifications. It is also a good idea to reach out to contacts in the industry to see if they know of any open positions or hiring managers looking for interns.
Prepare for Interviews. Once you have submitted your applications, it is important to prepare for any interviews you may receive. Research the company and its product/services, as well as prepare answers to common interview questions.
Follow Up & Negotiate. After the interview, be sure to follow up with hiring managers and thank them for their time. If you are offered the position, dont be afraid to negotiate salary and other benefits.

The success of a market research intern depends on their ability to be both ideal and competent. An ideal market research intern should be able to think critically and creatively, possess strong communication and interpersonal skills, and have an in-depth understanding of the dynamics of the research industry. At the same time, they should also be competent in data analysis, market modeling, and research methodologies.

To achieve this, they must continuously strive to hone their skills and stay up-to-date with the latest technologies and trends in the field. As they gain experience and knowledge, they can become more adept at synthesizing data and delivering actionable insights that can help their employers make better decisions. the more ideal and competent a market research intern is, the more successful they will be in their position.

You may want to check Market Insights Manager, Market Area Manager, and Market Research Consultant for alternative.

Job Description

Gather and analyze market intelligence including trends, competitive landscape, and customer insights to inform product strategy.
Develop and execute market research plans, surveys, and focus groups.
Compile and analyze data to evaluate current and potential markets, products, and services.
Track and interpret market trends and developments.
Collaborate with marketing and product teams to develop marketing strategies.
Prepare reports, presentations, and other materials detailing research results.
Monitor industry trends and news sources to stay up-to-date on market developments.
Assess the effectiveness of marketing campaigns and strategies.
Identify opportunities for growth in existing and new markets.
Analyze customer feedback data to provide meaningful insights.

Skills and Competencies to Have

Analytical Thinking
Data Analysis
Market Research Skills
Statistical Analysis
Report Writing
Project Management
Communication Skills
Interpersonal Skills
Detail-Orientation
Time Management

Market research internships offer valuable experience in researching and interpreting consumer behavior and trends. This type of position requires strong analytical and communication skills, as well as an understanding of the competitive landscape in which a business operates. Having an aptitude for research and an ability to think critically are essential for success in this role.

being able to effectively communicate complex data and insights to stakeholders is key to helping organizations make informed decisions. By having a comprehensive understanding of the market and its dynamics, market research interns can provide valuable direction and insights to help businesses reach their goals.

Market Research Manager, Market Segment Manager, and Market Planning Analyst are related jobs you may like.

Frequent Interview Questions

What experience do you have working in the research and market analysis field?
How do you stay up to date with the latest trends in the market research field?
What methods do you use to collect data for market research projects?
How do you ensure accuracy and reliability when conducting market research?
What experience do you have with data analysis and interpretation?
Describe a project you have worked on that involved market research.
How do you ensure customer satisfaction with your market research services?
How do you prioritize tasks when managing multiple market research projects simultaneously?
Explain how you use analytics to analyze market trends and customer behavior.
What strategies do you use to stay organized and productive when working on market research projects?

Common Tools in Industry

SurveyMonkey. An online survey platform used to create and distribute surveys. (e. g. A recent survey conducted by SurveyMonkey to understand customer sentiment on a product. )
Google Analytics. A web analytics service that tracks and reports website traffic. (e. g. Google Analytics was used to monitor website traffic to identify areas of improvement. )
Qualtrics. An online survey platform used to collect customer feedback and opinions. (e. g. A recent customer feedback survey was conducted on Qualtrics to understand customer experience. )
SPSS. Statistical analysis software used to analyze data and generate insights. (e. g. SPSS was used to analyze survey results and understand customer preferences. )
Marketo. A marketing automation platform used to track and measure customer engagement. (e. g. Marketo was used to measure customer engagement with email campaigns. )
Tableau. Business intelligence software used to visualize data and create interactive dashboards. (e. g. Tableau was used to create a dashboard showcasing customer demographics. )

Professional Organizations to Know

American Marketing Association (AMA)
Marketing Research Association (MRA)
International Institute of Market Research (IIMR)
Society for Consumer Psychology (SCP)
Academy of Marketing Science (AMS)
Professional Pricing Society (PPS)
Association for Consumer Research (ACR)
Advertising Research Foundation (ARF)
Social Media Research Association (SMRA)
Insights Association (IA)

We also have Market Intelligence Specialist, Market Risk Analyst, and Market Research Director jobs reports.

Common Important Terms

Market Research. An organized approach to gathering and analyzing data about a particular market in order to assess the size, shape, and potential of the market.
Surveys. A research technique used to collect data from a sample of individuals. Surveys can include questionnaires, interviews, polls, or other methods of collecting data.
Focus Groups. A form of qualitative research in which a small group of people are brought together to discuss a particular topic of interest.
Data Analysis. The process of examining, transforming, and modeling data with the aim of discovering useful information, suggesting conclusions, and supporting decision-making.
Customer Segmentation. The process of dividing customers into distinct categories or segments based on their needs, preferences, and behaviors.
Key Performance Indicators (KPIs). Quantitative measurements used to evaluate the performance of a company or organization.

Frequently Asked Questions

Q1: What is the typical duration of a Market Research Internship? A1: The typical duration of a Market Research Internship is usually between 3-6 months. Q2: What qualifications are required to become a Market Research Intern? A2: Most employers require a bachelor's degree in market research, statistics, business, economics or a related field to become a Market Research Intern. Q3: What type of responsibilities does a Market Research Intern have? A3: A Market Research Intern typically conducts research to gather data, analyze trends and create reports. They may also support the team with surveys, interviews and focus groups. Q4: What are the benefits of becoming a Market Research Intern? A4: Becoming a Market Research Intern provides valuable experience in the market research field, as well as the opportunity to network with professionals in the industry. Q5: What type of salary does a Market Research Intern typically earn? A5: Market Research Interns typically earn an hourly wage ranging from $12-$20 depending on the company and location.