Feb 16, 2023

How to Become a Market Researcher in Malaysia

Are you curious to learn more about the role and responsibilities of a Market Researcher? Interested in pursuing a career in this profession? 

Over the past decade, innovations in technology and marketing tools have allowed businesses to gather a wide range of data on consumers and their target market. This data can be crucial for businesses to understand the needs and desires of their target consumers as well as gain a clear understanding on their brand's market positioning against competitors.

Whether working directly within a business or within a marketing research agency, the people responsible for positioning companies for success by better understanding your target consumers are known as Market Researchers.  

 As one of the leading market research companies in Malaysia, the team at Vodus Research has put together this handy guide for those in Malaysia who are considering a career in market research.  

 What is a Market Researcher? 

 The role of a Market Researcher is to collect and analyse data related to consumer behaviour, market trends, and economic conditions to help businesses and organizations make informed business decisions.  

Market Researchers can be found in businesses and organizations across most industries in Malaysia, helping brands and businesses ensure the success of their campaigns and promotional efforts.  

 Areas in which the role of Market Researcher plays an important role include: 

  • Identifying which products target consumers are interested in purchasing and how much they are willing to spend to obtain them. 
  • Target market research to determine the best approach to market a company‚Äôs existing products or services. 
  • Brand health research to measure their current brand performance and brand potential relative to their competitors 
  • Competitor Research to assess how their own company can gain a competitive edge. 

How to Become a Market Researcher in Malaysia 

There are a variety of entry paths to becoming a Market Researcher in Malaysia. Those who are still in high school or planning to start college can benefit from studying subjects such as marketing, psychology, engineering, statistics and business administration as these will provide knowledge and skill sets which will add value to developing a career as a Market Researcher. 

In terms of formal qualifications many employers in Malaysia will look for candidates who have a master's degree in business administration, however having a bachelor's degree in areas that involves statistics, social science, and psychology can also provide an alternative pathway into this position. 

Those with a good background in statistical and data analysis will have better job prospects in Malaysia than those without. 

Key Responsibilities  

  • Monitoring & Forecasting trends 
  • Researching market conditions 
  • Analysing consumer data to understand preferences and behaviours 
  • Measure brand performance and imageries against competitors 
  • Measure customer satisfaction 
  • Pricing analysis across different marketing & distribution channels 
  • Evaluating different methods of collecting data 
  • Gathering data on consumers, competitors and market conditions 
  • Utilising statistical software (Excel, SPSS, R, Python etc) to treat, analyse and interpret data 
  • Developing the best formats to display data and insights based on the preference of the customer or team. 
  • Presentation of reports to external/internal stakeholders within the business. 

Key Skills a Market Researcher Should Have 

Businesses expect a prospective Market Researcher to have developed selected skills over several years of academic and professional experience. For example, a recent university graduate may have prior experience working as a marketing specialist before advancing to an analyst position. However, entry-level analyst roles do also exist.  

Applicants with at least one internship position on their resume will be more in demand than those with no previous working experience. 

Some of the key skills a Market Researcher should have include: 

Analytical Skills 

The ability to analyse data and statistics in the form of charts, graphs and other statistical information is one of the key skills required to be successful as a Market Researcher. 

Reading Comprehension 

Reading and interpreting data is a key part of conducting market research and data analysis. Having an advanced level of reading, writing, and a good grasp of the English language are both very beneficial for this role. 

Organisation Skills 

Market Researchers often handle multiple campaigns and projects at once. Good organisation skills will help to manage the workload and also ensure tasks and projects are completed within the deadlines. 

IT Skills 

Innovations in technology have allowed market research teams to collect and analyse data faster and more accurately than before. Having strong computer skills and the ability to learn new programs are both great skills which will also come in handy in the years to come, as more and more technologies such as A.I. are utilised in market research. 

Understanding of Marketing Strategies 

Having a good understanding of marketing and strategies is a great skill to have as it allows data and insights to be collated and presented to clients or team members in a format that they can understand and implement. 

A career as a Market Researcher in Malaysia can be highly rewarding, especially for data-driven professionals. Someone who enjoys working on projects that help inform strategic marketing and business decisions will be highly satisfied given the nature of this type of work. 

The good news is the Market Research field is constantly growing, and experienced professionals are typically well compensated. This makes it both a stable and dynamic career to consider. 

As one of the leading market research agencies in Malaysia, Vodus Research is constantly producing new innovative solutions to challenge the status quo in our pursuit of creating a universal system that gathers highly accurate market data.  

If you think you have what it takes to accept the exciting challenge of building a novel and groundbreaking product, we want you. Email your resume to contact@vodus.com. 

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