Market Research Analyst

1 week ago


Dubai, United Arab Emirates 8Bacus Inc Full time

As a distributor of a Korean skincare brand looking to enter the Dubai market, we seek to conduct thorough market research to assess market feasibility and identify potential service gaps for entry. Your role will involve visiting retail stores to gather data on competitors' products, services, and promotional strategies. You will be responsible for compiling, analysing, and reporting the collected data to provide management with valuable insights for making informed decisions about market conditions in Dubai.

A Market Research Analyst plays a crucial role in helping businesses understand market conditions to make informed decisions. Breakdown of the job scope:
**1. Market Research**:

- **Data Collection**:
a) Research & create list of retail stores and their full address

b) Create comprehensive list of competitors and their product line up as well as price point.

c) Record skin care items on retail shelves, including their placement, price point, out of shelf incident and the trade marketing being used (such as promotions, in-store displays, signage and promoter)

d) Capture planogram. (Photo)

e) Capture and record competitor store display ads.

f) Conduct mystery shopping operations to determine competitor promoter’s product knowledge, service, competitor’s product offer and top selling products.
- **Analysing Data**:
a) Interpreting data to identify patterns, opportunities, and potential risks.

b) Identify and classify brands and products based on their target market (Identifying direct competitor)
- **Competitor Analysis**: Monitoring competitors' products, pricing strategies, and market performance to provide insights on how to position the company’s products.

**2. Reporting**:

- **Creating Reports**:
a) Compiling research findings into detailed reports, including visual aids like charts and graphs, to help stakeholders understand the market landscape.

b) Report on products that are on promotion. (Selling under MSRP)
- **Presenting Insights**: Presenting research results and strategic recommendations to management, helping them make data-driven decisions.

**3. Customer Insights**:

- **Understanding Consumer Behaviour**: Studying consumer needs, preferences, and buying habits to identify target markets and consumer segments.
- **Identifying Market Needs**: Determining unmet needs in the market that the company could address with new or improved products.

**4. Product Development Support**:

- **Product Testing**: Conducting or overseeing product testing and surveys to gauge customer reactions to new products or features before a full-scale launch.
- **Pricing Strategy**: Assisting in determining optimal pricing strategies based on market demand, competitor pricing, and customer willingness to pay.

**5. Strategic Planning**:

- **Market Forecasting**: Predicting future market trends, potential challenges, and growth opportunities to guide the company’s long-term strategy.
- **Market Entry Strategies**: Providing insights for entering new markets or expanding within existing ones.

**6. Compliance and Ethics**:

- **Ensuring Data Integrity**: Making sure that data collection methods comply with ethical standards and legal requirements, such as data privacy laws.
- **Maintaining Confidentiality**: Protecting sensitive information about the company and its customers.

**Qualifications**:

- University degree in Marketing, Economics, Statistics, or related field is a must, Postgraduate or MBA is an advantage2-3 years’ experience in Marketing and/or Market Research handling FMCG clients
- Strong analytical mind
- Good presentation skills
- Excellent verbal and written communication skills
- Computer Literate (Word, PowerPoint Excel)
- Excellent numerical skills
- Knowledge of statistical analysis software

**Job Type**: Contract
Contract length: 6 months

Pay: AED7,000.00 - AED9,000.00 per month

Application Question(s):

- What company/es did you handled fast-moving consumer goods like cosmetics?
- Can you start on second week of October?
- How much is your asking salary?

**Experience**:

- Market research: 3 years (preferred)

Expected Start Date: 07/10/2024



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