ePoise Session - Industry Overview & Careers in Market Research

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This presentation is summary of Webinar conducted at ePoise on educating B-School students on Industry Overview & Careers in Market Research.

The Webinar was presented by ePoise mentor Mr. Rahul Varma,All India head of Public Affairs and the MediaCT (Content and Technology) division for Ipsos.

Market Research overview: This session will provide an overview of market research industry covering the consumer and industrial sector segments, industry landscape including major players and typical business functions within market research.

Career in Market Research: This session will provide insights into careers in market research as available – within companies, with specialist market research firms and with consulting organizations. It will focus on entry level MBA roles – nature of work, growth prospects and skill expectations; similarities and differences among roles among leading market research / consulting firms. The mentor will also provide guidance for interview preparation.

Registering with ePoise will not only provide access to video recording of all webinar session, but also:
-- Invite to attend all the upcoming webinar sessions
-- Resources related to various career avenues
-- Access to directory of students from various B-Schools in India
-- Forums to get your questions answered
-- Opportunities - Internship and job postings
-- Coaching package comprising of
-- One to One Mentoring
-- Resume Drafting
-- Interview Preparation and much more!!

Do join us at www.facebook.com/EPoise and stay tuned to all updates from us

Tweeps can join us at @epoisetweets

For all Newbie pagals, you can find us at http://pagalguy.com/u/ePoise.Mentors

All slide worms can find us at http://www.slideshare.net/ePoiseMentors

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  • 2 minutes
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  • 3 minutesSwapna : Before we start Rahul can you dwell on the two basic questions about Market Research – first what is MR and then why is it so important and I believe that the importance of MR is continuously increasing
  • 4 minutesRahul explainsAnd what are these white arrows signifying – are these the factors which make MR a complex job?
  • 1 minutesSwapna – Given what you have told us Rahul MR looks like a large industry – who are the kind of clients we will be dealing with – is it FMCG or …………..Rahul explains
  • 4 minutesSwapna - So which are the MR agencies in India – Swapna : Who else is hiring? Swapna : While you have told us the main players Rahul how are these different from one another ? Do they specialize in kind of research they do or the sector that they cater to? Rahul explains the slideSwapna -Swapna : But what is the job in an MR agency like – are all these agencies doing the same kind of work or do they have their areas of specialization?Rahul introduces the concept of Choosing a Research solution……………………. Goes on to next slide
  • 4 minutesSwapna - So which are the MR agencies in India – Swapna : Who else is hiring? Swapna : While you have told us the main players Rahul how are these different from one another ? Do they specialize in kind of research they do or the sector that they cater to? Rahul explains the slideSwapna -Swapna : But what is the job in an MR agency like – are all these agencies doing the same kind of work or do they have their areas of specialization?Rahul introduces the concept of Choosing a Research solution……………………. Goes on to next slide
  • 1 minutesSo how are these different and does one need separate kinds of skills to be adept at eachRahul – Once you understand how both work it becomes easier for you to understand
  • 2 minutesAs you have fieldreasearchers in Quantitative do you gave the same for Qualitative too.
  • Swapna – So now that we have broadly understood the difference how quantitative is different from qualitative – tell us how does an MR agency work and what are the roles that a fresh MBA can have in an MR agency ………...
  • 2 minutesSwapna – So now that we have broadly understood the difference how quantitative is different from qualitative – tell us how does an MR agency work - how does a MR project pan out and what are the roles that a fresh MBA can have in an MR agency ………...
  • 3 minutesRahul explainsIn this which are the parts where a fresh MBA usually finds a role?Rahul goes on to next slide
  • 3 minutesRahul explainsIn this which are the parts where a fresh MBA usually finds a role?Rahul goes on to next slide
  • 3 minutesSwapna :Once a student joins a MR agency – what is the way that he grows inside the agencyRahul explainsSwapna : Are there also opportunities to grow outside the MR agency – tell us something about those opportunities!Rahul explains
  • 3 minutesWhat is the usual selection process for various roles in MR?Tell me what are your favourite questions and are there any answers which thrilled you or some which really out you off?
  • 2 minutesYou did tell us the broad areas of knowledge which one needs to build on in MR - Can you recommend some sources from where our friends could source this to prepare for their placements?
  • AnotherePoise facilitator would have selected some questions from the many that came up in chat. ePoise moderator (Swapna) would bring them up in conversation with mentor (Rahul) during the session or in the end.
  • ePoise Session - Industry Overview & Careers in Market Research

    1. 1. ePoise Mentoring SessionIndustry Overview & Careers in MarketResearch
    2. 2. Agenda Overview of Market Research Industry Two Key Type of Research Practice Research Process Overview Role at Entry Level Job Preparation tips Recommended resources Q&A ePoise for You 2 © ePoise 2012
    3. 3. Know your Mentor: Mr. Rahul Varma In his 17 years long career Rahul Varma has seen multiple aspects of the industry. He started his career with Tata Economic Consultancy services and after having worked on various sectorial Techno Economic Feasibility Reports he spent a couple of years doing Marketing & Sales planning in Daewoo Motors. Since then he has become a part of the consumer research fraternity. Rahul has worked with leading research agencies Like The Nielsen company, IMRB International, Synovate in the past few years and currently he is the All India head of Public Affairs and the MediaCT (Content and Technology) division for Ipsos. All views shared are personal3 © ePoise 2012
    4. 4. Getting the Basics right …… What is Market Research? – Research is the systematic collection and analysis of any information which helps to improve the quality of planning and decision making Why is market research important? – Fundamentally, it helps marketers to fully understand what consumers want – Good research should help to discover consumer insight • Truth from consumer’s lies OR • Thinking in consumer’s subconscious mind 4 © ePoise 2012
    5. 5. Type of Research Studies • Conducted at all different stages of product life cycle: - Development, Pre-Launch, Launch, Growth, Mature Market U&A & Market potential Brand Trackers segmentation estimates Concept and Product Pricing Customer Satisfaction development Brand Positioning Media Viewership Market share 5 © ePoise 2012
    6. 6. Market Research – a Context 6 © ePoise 2012
    7. 7. Market Research Consumer Segments - Global 7 © ePoise 2012
    8. 8. Competitive Landscape: the big global companies are in India  Kantar Group –IMRB / TNS  Nielsen Company  Ipsos  GFK  IMS  New Entrants –Brain Juicer  Indian Companies - Qualititative –Quantum –Third Eye 8 –Drishti © ePoise 2012
    9. 9. New Smaller Companies or other Sector  RNB Research  Kadence Research  Market Excel  Purple Audacity  Piple Research  KPO –WNS –Anik Technologies 9 © ePoise 2012
    10. 10. Two Key Areas of Expertise Quantitative Qualitative10 © ePoise 2012
    11. 11. Quant is all about the numbers & the what Questionnaire? Larger samples – Writing skills Statistically valid Quantitative Skill Analysing numbers Logical Thinking Often a carefully drawn sample that is representative of a larger population11 © ePoise 2012
    12. 12. Qual is all about the why and the how Why do people Smaller samples think that? - Communication Patience and Observational skill to understand (ethnography) between the lines Intuitiveness Analysis of language, body behaviours12 © ePoise 2012
    13. 13. Qualitative methodologies Face to face Telephone depths Individual (IDIs) Two main approaches Group Focus groups Duos & trios13 © ePoise 2012
    14. 14. Quantitative methodologies Face to face Telephone Just one route Internet Polling CAPI14 © ePoise 2012
    15. 15. Research Process Overview Client problem Debrief Proposal Charting Briefing Analysis Timings Pre-analysis Question Set up Fieldwork (online, etc)15 © ePoise 2012
    16. 16. Research Process Overview Client problem Debrief Proposal Charting Briefing Analysis Timings Pre-analysis Question Set up Fieldwork (online, etc)16 © ePoise 2012
    17. 17. Growth Prospects Competitive Continue Advertising Industry vs Practice KPO Analytics• 1-3 Years –• 3-5 Years – Managing projects with 1-2 reportees• 5-10 years – managing client and BD• 10- 15 Years - BD Analytics Business Industry Analytics Client Side Consulting17 © ePoise 2012
    18. 18. Selection Process, Criteria & Tips  All research companies have a written exam  Mix of quantitative, Logical and English  Level is largely similar to the MBA entrance exam  Group Discussion and / or Personal Interview  Confidence  Communication  Personal Interviews  Knowledge of concepts of statistics  Knowledge on the summer projects – mostly data collections is what happens in internship  Knowledge on type of sampling and errors  Should know why research should excite you  Should be strong in at least one market research project done  Look out for them on ePoise 18 © ePoise 2012
    19. 19. Opportunities – Apply in ePoise Research Executive, TNS Sr. Research Manager, IMRB Analyst & Sr Analyst, Nielsen Analyst, Dun & Bradstreet Market Research Exec, Flipkart Researcher & Sr. Researcher, Gartner MR Internship, FMCG19 © ePoise 2012
    20. 20. Recommended resources to improve capability Please read through basic books on statistics and Market research – Need not get involved into detailed multivariate analysis. – Concepts of multivariate and univariate analysis should be known. What should be used when? – Binomial distribution. Practical understanding – Sampling techniques – Link Below • Read chapter 1, 4, 5 and 8. • http://books.google.co.in/books?id=0o7StYCy1 30C&printsec=frontcover&source=gbs_ge_su mmary_r&cad=0#v=onepage&q&f=false – http://www.mrsi.in/ – Respective company sites20 © ePoise 2012
    21. 21. Q&A The discussion continues at ePoise Forums and on FB page Be the top contributor for this discussion. Win a 1:1 mentoring session + coaching package 21 © ePoise 2012
    22. 22. ePoise for You This is a summary of the webinar held on ePoise.com. To get access to the video recording of this webinar register at ePoise.com Registering with us will not only provide you access to video recording of all webinar session, but also: – Invite to attend all the upcoming webinar sessions – Resources related to various career avenues – Access to directory of students from various B-Schools in India – Forums to get your questions answered – Opportunities - Internship and job postings – Coaching package comprising of • One to One Mentoring • Resume Drafting • Interview Preparation and much more!! Do join us at www.facebook.com/EPoise and stay tuned to all updates from us Tweeps can join us at @epoisetweets For all Newbie pagals, you can find us at http://pagalguy.com/u/ePoise.Mentors All slide worms can find us at http://www.slideshare.net/ePoiseMentors 22 © ePoise 2012

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