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T. MURALIDHARAN in interview...

Information explosion due to better technology and accessibility has changed the way business is done. Specialised and customized information is what most businesses and governments now want. Market research is the inevitable answer. It involves researching any and everything, right from the evolution of a toothbrush to consumers’ preferences about it!

With sophisticated communication technology now available, the premium on well-researched business and technical reports is very high. Our team contacted Kiran Unni, a senior research analyst with Frost & Sullivan, an international marketing consulting company, to get a first – hand ‘report’ on market research.

Q: Can you briefly encapsulate the services offered by Frost & Sullivan?
A: Frost & Sullivan (F&S) is an international strategic marketing consulting company headquartered in San Jose, California. We also have offices in the US, the UK, Belgium, Germany, Singapore, Malaysia, China, India and Australia.

We offer a whole gamut of services of which market research forms an important part. Apart from syndicated market reports we also offer consulting and training services. The different services offered by the company include:

Customised client proprietary marketing consulting and research.
Syndicated market engineering reports.
Online subscriptions through our website www.frost.com
Periodic conferences in emerging technologies/business practices
Decision support database
Country industry forecasts.

Our industry-focused verticals range from aerospace and defence to chemicals, communications and information technology, electronics and semiconductors, healthcare, environment, energy, etc., under which come the various specific market-oriented industrial research groups.

Q:How did you get into the field of market research?
A: Being a student of economics, I had always enjoyed working on live primary research oriented projects. I have always believed that to know a market or industry truly, one needs to actually get out and meet the participants of the industry to form an accurate and enduring impression of their business, revenues and future prospects.

My first job was with a Hyderabad – based marketing consulting company, which gave me the required training in research and analysis. Being in F&S has helped me leverage that training and use my expertise on forecasting models and analysis techniques to research and identify market issues both at national and international levels. As I am a part of the Industrial Practice Group in F&S, I specialise in this area.

Q:Describe a typical workday of yours?
A: There are many facets to my ‘typical work day’. As an analyst, I have to contribute market-specific articles to the company’s portal as well as to any other industry-oriented publications and journals.

Each of us analysts here work individually or as part of a team, on the particular project at hand that could be a syndicated report, a consult assignment or a subscription service. The job at hand is a mix of several activities, including secondary and primary research.

Over 85 per cent of the research conducted by F&S is based on primary research. The analyst collates the available data using various forecasting techniques and models, and presents the research findings in the form of reports.

Q:What educational qualifications are necessary to get into the field ?
A: Usually, one requires a minimum degree/Diploma in MBA or any other degree equivalent to management to be qualified as a research analyst. In addition, a technical background in the particular field is also an added advantage. However, this is not a hard and fast rule and any person with sound knowledge of the market and with an aptitude for economics and related subjects could be considered and ideal candidate for the post of a research analyst.

Q:What qualities and attributes are necessary to become a market researcher?
A: One requires a strong background in and knowledge of research techniques. In addition, the analyst will have to have sound knowledge of economics and the conventional business trends in order to be able to study markets at both the micro-as well as macro levels. It is also a must for the analyst to be aware of and study the different government policies that influence various markets.

However, all these skills come to naught without effective writing skills. The analyst not only researches and forecasts the future of markets, but also has to project the findings to the clients in a convincing manner.

Q:What are the upsides and down sides of being a market researcher ?
A: All skills mentioned are the most important upsides of being a research analyst. Keeping pace with the ever-changing market scenario enables the analyst to keep abreast of the latest advancements in the market, be it technology, company, or product-oriented.

Those looking for a cushy job that doesn’t require consistent hard work and effort can look elsewhere! Market research and consulting is definitely not a typical nine-to-five job. A research analyst is under continuous pressure to provide accurate analysis. The analyst is also expected to be able to foresee drastic turns of the market.

Q:What are the growth prospects of the industry?
A: Information is power. The changes in the global economic scene have led to most countries liberalising their markets to open competition. This has resulted in an exponential expansion of revenue opportunities and demand. Consequently, it has become imperative for participants to be well-informed of all market trends, opportunities, and possible future trends. This should give the market research and consulting industry a tremendous boost that should last a really long time.

T. Muralidharan is MD of CareerMosaicIndia.com
An IIT Madras and IIM Ahmedabad alumni, he is a career consultant to professionals.
murali.hyd@cxknetworks.com.

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