Skill description
Gathering, analysing and interpreting data about markets, customers and competitors to inform business decisions and strategies.
Guidance notes
Market research involves systematically collecting, analysing and interpreting data from various sources to understand market trends, customer needs and preferences and competitive landscapes. This skill applies to both qualitative and quantitative research methods.
Activities may include, but are not limited to:
- designing and conducting market research studies using surveys, focus groups, interviews and other methods.
- analysing market data to identify trends, opportunities and challenges.
- segmenting markets and identifying target customers based on research findings.
- monitoring competitor activities and analysing their strategies and performance.
- communicating research findings and recommendations to stakeholders to inform decision-making and strategy development.
Level 3Apply
Assists in the design and execution of market research studies.
Collects and analyses data using standard methods and tools.
Contributes to the preparation of research reports and presentations.
Level 4Enable
Designs and conducts market research studies independently.
Analyses market data to identify trends, opportunities and challenges.
Segments markets and identifies target customers based on research findings.
Prepares research reports and presentations to communicate findings and recommendations.
Level 5Ensure, advise
Leads the design and execution of complex market research studies.
Analyses and synthesises market data from multiple sources to generate insights and recommendations.
Presents research findings and strategic recommendations to stakeholders.
Advises stakeholders on the implications of research findings for business strategy and decision-making.
Contributes to the development of organisational market research methods and standards.
Level 6Initiate, influence
Sets the overall direction and strategy for market research in the organisation.
Develops organisational policies, standards and guidelines for market research.
Ensures market research capabilities and resources are aligned with business needs and objectives.
Communicates high-level market insights and strategic implications to senior leadership and stakeholders.
Collaborates with internal and external partners to influence organisational strategy and drive the effective use of market research in decision-making and strategy development.
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