This is a very high profile career and one of the fastest growing service industries in India today. With the flooding of consumer goods in the market, every manufacturer is looking for an edge over rivals. To do this, he needs to get a deep understanding of consumer preferences. This is where market research steps in.

A manufacturer or service provider hires a market research company to know the reactions of consumers to a new product, a new advertising campaign and so on. That's not all - market research is applied in everything from television programmes to elections. Market research work does not stop with the collection of data, which is done by the field department of the company. It is after the data collection that the researcher steps in. He not only analyses the data, but also gives advice or recommendations to the client about a future course of action. Thus, a market research company is also a consultant to its client.

Qualifications: One should have a fairly good mathematical or statistical background and an MBA degree in marketing. There are two types of research works: (1) quantitative research,  which  deals mostly with figures and numbers, (2) qualitative research, which includes group discussions, in-depth interviews for collection of data, etc. The latter usually requires a background or training in communication or psychology and   related disciplines. Since client servicing is a very important aspect of market research, one should also have good verbal and writing skills, presentation skills and a fairly reasonable understanding of business and the market.

Pay Packet: The starting salary could be between 2-2.5 lakh rupees per annum, with a whopping 20 per cent annual increment thereafter.

Prospects: One can rise up from being a research executive in the initial stages to an associate project director, research director and then a research services director.

There are two types of people coming into this field. The first type are those who are passionate about research and the second type are those who join this field to get an exposure to the marketing world. Since market researchers interact with some of the biggest names in the marketing world, it helps them to get jobs in the marketing departments of other big companies later in their careers.

The market research industry is still in its initial phase in India. The growth rate in the early' 90s was around 40-50 per cent. Though, the industry has had a setback due to the general recession in 1997-98, it promises to provide excellent job opportunities in the near future. The marketing world today is realising the importance of market research and hence the demand for these services is on the rise.

Because of India's cultural and geographical differences, market research is a complicated task. But this has helped Indian market researchers to attain international standards. Companies from the Far East, the Middle East and even the UK and the USA recruit market researchers from India. Market research is one field that offers a great growth potential and guarantees excellent job prospects for management graduates.

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