Effective market research allows a company or brand to gain valuable insights about their consumers, shared Market Research Society President Joan Koh, in an interview with NTUC This Week.
“This helps them make better decisions and achieve growth, which in turn creates more jobs in the economy.
“It takes out the guesswork and provides relevant, useful and timely information and insights which drive the logic behind business strategies,” she said.
She added that Singapore’s connectivity makes it a great regional gateway to other Asian markets, which is why many global and regional companies are headquartered here.
A Bright Future For Professionals
“I would like to think that market and consumer research is an integral part of every role in an organisation. It can be a career destination or serve as a bridge to sales, marketing or general management roles,” said Joan.
Depending on one’s personal aspirations and aptitude, there are abundant opportunities at both market research suppliers (agencies) and research buyers (brand owners) levels in any industry or sector.
Specifically, job roles in the market research space include client servicing, data analyst, data scientist, operations, and business development.
Developing Talent
Committed to developing talents within the market research industry, MRSS recently signed a memorandum of understanding with NTUC U Associate to provide joint outreach programmes to support professionals, managers and executives in their progression needs.
“We are constantly exploring different ways to provide more value to our members. We are honoured to work with industry partners such as NTUC U Associate to promote relevant programmes available for both new talents and existing professionals.
“The collaboration provides market research practitioners with professional development, training and networking opportunities and encourages potential cross-pollination of ideas with related professional guilds within the U Associate ecosystem,” said Joan.
The new partnership will complement other MRSS initiatives that are centred around its four pillars of membership and outreach, education and networking, information sharing and exchange, and standards and ethics.
Upholding Standards
Complementing the personal development of its members, “the mission of MRSS is to unite research practitioners towards common goals of continued professionalism of the industry, uphold the highest standards of research and business ethics, and to uplift MRSS’ contribution to our members and to the industry,” said Joan.
To do so, she shared that MRSS adopts a Code of Professional Behaviour and guidelines that promotes the highest ethical and professional standards for researchers around the world and was developed through close collaboration with international marketing research organisations. On an individual level, the MRSS is also focused on the needs of its 270 members.
According to Joan, “the mission is to serve all those with professional equity in provision or use of market, social and opinion research, and in business intelligence, market analysis, customer insight and consultancy.”
In the event that members need additional support, MRSS also has professional standards officers whom members can count on to answer ethical questions and problems.
These officers will also help manage disciplinary procedures against members.
