Market research MRCH Beta

(new)

Gathering, analysing and interpreting data about markets, customers and competitors to inform business decisions and strategies.

SFIA 9 is in development

SFIA 9 planned for publication October 2024.
The content of this skill may change before publication.

Guidance notes

(new)

Market research involves systematically collecting, analysing and interpreting data from various sources to understand market trends, customer needs and preferences and competitive landscapes. This skill applies to both qualitative and quantitative research methods.

Activities may include, but are not limited to:

designing and conducting market research studies using surveys, focus groups, interviews and other methods
analysing market data to identify trends, opportunities and challenges
segmenting markets and identifying target customers based on research findings
monitoring competitor activities and analysing their strategies and performance
communicating research findings and recommendations to stakeholders to inform decision-making and strategy development.

Understanding the responsibility levels of this skill

Where lower levels are not defined...

Specific tasks and responsibilities are not defined because the skill requires a higher level of autonomy, influence, and complexity in decision-making than is typically expected at these levels. You can use the essence statements to understand the generic responsibilities associated with these levels.

Where higher levels are not defined...

Responsibilities and accountabilities are not defined because these higher levels involve strategic leadership and broader organisational influence that goes beyond the scope of this specific skill. See the essence statements.

Developing skills and demonstrating responsibilities related to this skill

The defined levels show the incremental progression in skills and responsibilities.

Where lower levels are not defined...

You can develop your knowledge and support others who do have responsibility in this area by:

Learning key concepts and principles related to this skill and its impact on your role
Performing related skills (see the related SFIA skills)
Supporting others who are performing higher level tasks and activities

Where higher levels are not defined...

You can progress by developing related skills which are better suited to higher levels of organisational leadership.

Click to learn why SFIA skills are not defined at all 7 levels.

Show/hide extra descriptions and levels.

Levels of responsibility for this skill

Level 1

Level 1 - Follow: Essence of the level: Performs routine tasks under close supervision, follows instructions, and requires guidance to complete their work. Learns and applies basic skills and knowledge.

Level 2

Level 2 - Assist: Essence of the level: Provides assistance to others, works under routine supervision, and uses their discretion to address routine problems. Actively learns through training and on-the-job experiences.

Market research: Level 3

Level 3 - Apply: Essence of the level: Performs varied tasks, sometimes complex and non-routine, using standard methods and procedures. Works under general direction, exercises discretion, and manages own work within deadlines. Proactively enhances skills and impact in the workplace.

(new)

Assists in the design and execution of market research studies.

Collects and analyses data using standard methods and tools.

Contributes to the preparation of research reports and presentations.

Market research: Level 4

Level 4 - Enable: Essence of the level: Performs diverse complex activities, supports and guides others, delegates tasks when appropriate, works autonomously under general direction, and contributes expertise to deliver team objectives.

(new)

Designs and conducts market research studies independently.

Analyses market data to identify trends, opportunities and challenges.

Segments markets and identifies target customers based on research findings.

Prepares research reports and presentations to communicate findings and recommendations.

Market research: Level 5

Level 5 - Ensure, advise: Essence of the level: Provides authoritative guidance in their field and works under broad direction. Accountable for delivering significant work outcomes, from analysis through execution to evaluation.

(new)

Leads the design and execution of complex market research studies.

Analyses and synthesises market data from multiple sources to generate insights and recommendations.

Presents research findings and strategic recommendations to stakeholders. Advises stakeholders on the implications of research findings for business strategy and decision-making.

Contributes to the development of organisational market research methods and standards.

Market research: Level 6

Level 6 - Initiate, influence: Essence of the level: Has significant organisational influence, makes high-level decisions, shapes policies, demonstrates leadership, promotes organisational collaboration, and accepts accountability in key areas.

(new)

Sets the overall direction and strategy for market research in the organisation.

Develops organisational policies, standards and guidelines for market research. Ensures market research capabilities and resources are aligned with business needs and objectives.

Communicates high-level market insights and strategic implications to senior leadership and stakeholders.

Collaborates with internal and external partners to influence organisational strategy and drive the effective use of market research in decision-making and strategy development.

Level 7

Level 7 - Set strategy, inspire, mobilise: Essence of the level: Operates at the highest organisational level, determines overall organisational vision and strategy, and assumes accountability for overall success.

New skill