Role Analysis

Quick Tips to prepare for Market Research

Likely Companies where this role exists:

• EuroMonitor
• Nielsen India
• Kantar
• Ipsos
• TNS
• Frost & Sullivan
• GfK
• Deloitte (Market Research and Insights division)
• Accenture Strategy (Market Research and Insights)
• PwC
• Hansa Research
• SmartAnalyst India Pvt Ltd.
• Blueocean Market Intelligence
• TechSci Research
• IDC India

Likely roles offered by these companies:

• Market Research Analyst
• Research Executive/Associate
• Data Analyst
• Market Research Manager
• Business Analyst
• Consultant (Market Research)
• Qualitative/Quantitative Researcher
• Industry Analyst
• Brand Analyst
• Statistical Modeler
• Data Visualization Specialist
• Market Intelligence Analyst

Questions about industry/sector:

These questions are important to prepare as a business graduate. Recruiters expect you to have holistic view of the
problem/role.
Industry Overview:
• Who are the competitors of the company?
• What is the key strength of the company over its competitors?
• What are the advantages of Mintel vis-à-vis EuroMonitor Passport?
• What are the challenges this industry is facing currently?

Technological Adaptation and Trends:

• How WPP’s Kantar, Neilsen are changing themselves to adopt with the latest technology & changed industry demands?
• What is the role of Big Data and Machine Learning in this industry?
• What’s the impact of Covid on this industry? Short term as well as Long term.
• Tell us about recent trends or developments in our industry?
• How do you stay updated with the changes in the industry?
• What are some key challenges or opportunities you see in our industry?

This document has been created to provide you some guidance for quick preparation. The questions listed here are not exhaustive by any means and are not
unique/ specific to the mentioned companies. Also, companies are also indicative (not at all exhaustive) – they are used to provide you with better context for
preparation. Use your own judgment to prepare exhaustively. Do not circulate further – we have worked very hard to create this!
Role Analysis

Competitor Analysis and Insights:

• How would you approach conducting competitor analysis in our industry?
• Can you share any insights on consumer behavior specific to our industry?
• Can you discuss any regulatory or ethical considerations relevant to market research in our industry?

Communication and Emerging Technologies:

• How do you interpret and communicate complex market research findings to stakeholders?
• What are some emerging technologies or tools that you believe will significantly impact the market research industry?

Questions about Role/Profile (Technical or Functional Questions):

These are direct role-based questions which one should be thoroughly prepared on:

Types and Classification of Market Research:

• What are the types of market research? Which one would you prefer?
• How is the research classified on the basis of the type of data required? How can they co-exist?
• What are the different research methodologies you have experience with in our industry?
• What are the different types of research methodologies commonly used in market research?

Research Tools and Use-Cases:

• What are the different research tools used?
• Mention a few use-cases of market research in XYZ industry?
• What are the key market research tools and software you have experience with?
• How do you use data analysis tools, such as SPSS or R, in market research studies?
• Explain the role of data visualization tools, such as Tableau or Power BI, in market research reporting and analysis?
• How do you utilize social media listening tools, like Brandwatch or Hootsuite, for gathering insights?
• How do you use web analytics tools, such as Google Analytics, to gather insights on consumer behaviour and website
performance in market research?

Market Research Processes and Techniques:

• What are the few most important factors that decide the scope of market research?
• How do you go about forecasting the market demand for a new product?
• Can you identify a product that has effective marketing, and how market research contributed to its success?
• What marketing technique would you suggest promoting a product with high customer expectations vis-à-vis low
customer expectations?
• How do you ensure data quality and accuracy in market research studies?
• How do you handle challenges related to sample size and representativeness in market research studies?
• How do you determine the sample size for a market research study?
• What are the different types of research methodologies commonly used in market research?
• Can you explain the process of questionnaire design and the factors to consider?
• What are the different types of data collection methods used in market research, and when would you choose each?
• Discuss the process of brand tracking research and the key metrics used to assess brand performance over time?
• Explain the concept of perceptual mapping in market research and its applications?
• Discuss the process and importance of data triangulation in market research?
• How would you approach conducting a pricing elasticity study to determine the optimal pricing strategy for a product or
service?
• Discuss the concept of CLV and discuss how it can be calculated and utilized in market research?
• How would you design and conduct a market sizing study to estimate the potential market share for a new product or
service?
• Explain the concept of conjoint analysis and how it is used in market research to measure consumer preferences?
• How would you approach designing a multivariate analysis in market research, and what are its benefits?

This document has been created to provide you some guidance for quick preparation. The questions listed here are not exhaustive by any means and are not
unique/ specific to the mentioned companies. Also, companies are also indicative (not at all exhaustive) – they are used to provide you with better context for
preparation. Use your own judgment to prepare exhaustively. Do not circulate further – we have worked very hard to create this!
Role Analysis

Consumer Behavior and Insights:

• What factors influence consumer behavior?
• Provide examples of successful market research projects you've worked on in a similar industry?
• How do you interpret and communicate complex market research findings to stakeholders?
• How do you analyze and interpret data from social media platforms for market research purposes?
• How can you use market research to identify and target a specific customer segment for a product or service?

Emerging Technologies in Market Research:

• What are the key steps involved in designing a market research study?
• How do you address bias and ensure objectivity in market research studies?
• Explain the concept of hypothesis testing in market research, and how is it done?
• Can you explain the concept of regression analysis and its role in market research?
• How would you incorporate predictive modeling techniques, such as regression analysis or machine learning, in market
research studies?
• Discuss the role of data scraping and web crawling tools in collecting and analyzing online data for market research?

Case/Situation Based Questions:

• Imagine you are tasked with conducting market research for a new product launch in the beauty industry. How would
you approach the research process? What research methods and techniques would you employ to gather insights on
consumer preferences, market trends, and competitive analysis?
• A company wants to expand its operations internationally and is seeking market research to identify potential target
markets. How would you design a market research study to assess the viability and attractiveness of different
international markets? What factors would you consider, and what data collection methods would you utilize?
• A company recently experienced a decline in sales for one of its flagship products. They want to understand the reasons
behind this decline and develop strategies to regain market share. How would you conduct a market research study to
identify the causes of the decline and recommend actionable insights to address the issue?
• A start-up is developing a new mobile app and wants to conduct market research to validate its potential market and
gather feedback on the app's features and user experience. How would you design a research study to assess the app's
market potential, target audience, and obtain insights for improvement?
• A company is considering launching a loyalty program for its existing customers. How would you conduct market
research to determine the feasibility and effectiveness of such a program? What research methods would you employ
to gather insights on customer preferences, loyalty program features, and potential ROI?

**When approaching case-based questions, it's important to demonstrate a structured and systematic approach. Start by
identifying the key objectives of the research, propose suitable research methods and techniques, consider potential data
sources, discuss sampling and data analysis approaches, and conclude with actionable recommendations based on the research
findings. Remember to consider the specific context, industry, and company's goals while formulating your answers.

Things to highlight from CV/Profile

This helps make your CV more relevant to the role, helping with shortlists
• Logical / Analytical skills – Must show
• Statistics Knowledge, tools like SPSS etc.
• Business writing skills
• Implementation of actionable insights on any projects – Pls highlight
• Any academic/live projects on consumer behavior / distribution / brand management
• Innovation and ability of communicate complex technical stuff to your grandmother!!
• Brief about expertise/past projects/value you can add
• What technical skills do you have that set you apart?
• Describe a scenario where you face severe time crunch or need quick decision-making ability

This document has been created to provide you some guidance for quick preparation. The questions listed here are not exhaustive by any means and are not
unique/ specific to the mentioned companies. Also, companies are also indicative (not at all exhaustive) – they are used to provide you with better context for
preparation. Use your own judgment to prepare exhaustively. Do not circulate further – we have worked very hard to create this!