Future Talent Meets The Industry

The market research industry evolves from the markets on which it focuses. Converging markets and technological convergence demand great attention. Market research can help to monitor these changes and prevent companies from the impact of disruptive technologies. These changes are a double-edged sword: On the one hand it is more difficult than ever to analyse markets with disperse customers in a globalized world. On the other hand new research approaches are possible such as data mining, which makes it easier to analyse the current situation in almost real time.

During an economical crisis, budget cuts have an impact on market research. In the present situation it is important for the market research industry to point out the importance of market research for managerial decisions and its impact on success. Especially in severe times, market research is an important tool for successful global acting companies.

As someone who has been socialized in the digital ages and the generation that experienced the dawn of the internet era, I am used to fast changes and their impact on our lives. Being tech-savvy and curious about technological changes in my environment could help to tackle the future problems in market research. In my academic education, the statistical evaluation of data plays a major role. It is important for me to know state of the art approaches to get the most out of the data. Furthermore it is my goal not only to describe how, but also if possible to explain why something is happening. To sum it up my interest in technological changes, my strong methodological knowledge and my curiosity would be important personal contributions to the market research industry.

In my opinion three key skills are important for a market researcher in the present environment:

• The first skill is an analytical one: Market research as a support for managerial decisions should reduce complexity and uncertainty. Therefore in a complex, fast changing environment market researcher should be able to analyze complex issues as fast as possible. Analytical skills are based on experience and common sense. Only then one can adapt to the present environment and achieve the best results.
• As a second skill, a market researcher should have technical knowledge. He should not only have the knowledge of technological changes which affect markets, he should also be aware of the technological opportunities for his research. Data mining or eye tracking are nowadays standard tools for a market researcher. He should know how to use these tools in order to give sound answers to the management.
• The third skill focuses on a globalized world - cultural knowledge. It is of utmost importance to know cultural distinctions. Markets are converging in our globalized world. To have a profound knowledge of culture helps to find the right approach in research. Furthermore, results of the research can be better interpreted.

The next step for me is my master thesis. It will be finished by Christmas. It is about synergetic effects in cross media advertising, which is strongly connected to market research. With a master in Communications Management and Communications Research I would like to use my knowledge as a market or an academic researcher. After my years of studying it is very appealing to me to use my skills as a practitioner. Therefore gaining some experience as a practitioner in market research will be the next step. After that I could imagine myself doing a PhD or pursuing a career in an international company, which has its finger on the pulse of the changing world.