MockQuestions

Market Research Analyst Mock Interview

To help you prepare for your Market Research Analyst interview, here are 25 interview questions and answer examples.

First Question

25 Market Research Analyst Interview Questions

5 Interview Questions With Sample Answers

1.   What is your favorite technique in determining the validity of a product's price?

How to Answer

Let's start with assessing value. If a product is valuable to its market then it deserves a price. Here's an example of one technique some have found very helpful in this situation:



"Forming a comprehensive pricing strategy through creating a market research study will help you get answers directly from your target audience."



Designing questions that will help you to understand what people are looking for and how much they are willing to pay for a certain product will help you to evaluate if you are selling a product for the best price.

Answer Example

"Forming a comprehensive pricing strategy through creating a market research study will help you get answers directly from your target audience."

2.   In your experience, what are some of the tools that have been the most helpful in your market research?

How to Answer

As a market research analyst you will use a variety of tools to help you gather and analyze the data you find in your research. Depending on the type of market research you may need to use different tools. Show your understanding of how you use these methods to understand your target market. Give an example of a tool or two that have been valuable.



"Using Marketer's Almanac and County Business Patterns have helped me work with a client who was building their online business. There are a lot of great tools that you can use for free that I've found through basic research. It depends on what information you are looking for. It all starts with asking the right questions and having a few go-to tools to get your research started."

Answer Example

"Using Marketer's Almanac and County Business Patterns have helped me work with a client who was building their online business. There are a lot of great tools that you can use for free that I've found through basic research. It depends on what information you are looking for. It all starts with asking the right questions and having a few go-to tools to get your research started."

3.   If you are Budweiser, trying to launch a new beer to compete with craft beers, where would you begin your research?

How to Answer

Now is a time to put your knowledge to work! What are the steps you take in your research? Here is a sample example:



"First, you will want to gather as much information as you can about your target audience. Initially, you may not be certain who that should be. By researching the other beer companies you can find out their target audience and buying habits. In order to compete, you will need to identify what is missing. Is there an untapped market? How can you access them? Knowing that craft beer is becoming a trend, you will also want to investigate the latest news and stay up to date."

Answer Example

"First, you will want to gather as much information as you can about your target audience. Initially, you may not be certain who that should be. By researching the other beer companies you can find out their target audience and buying habits. In order to compete, you will need to identify what is missing. Is there an untapped market? How can you access them? Knowing that craft beer is becoming a trend, you will also want to investigate the latest news and stay up to date."

4.   How do you assist clients who are unclear on their business objectives?

How to Answer

If you are not sure what exactly a client is trying to accomplish with their business plan, your job will be a whole lot trickier! What are some of your strategies for solving this problem? Before taking on a new project, having your client fill out a questionnaire that lays out their business objectives and what services they need from you will help. Think about some ways you can assist your clients through doing your own target market research to help them define their audience. You can also help them understand trends in the market that could make them more profitable if they would be willing to make some adjustments to their original plan. There are many ways you can use your analytical skills to help businesses and clients. Give an example or talk about a project in one of your courses where you used research, analysis or collaboration to help clarify objectives and move forward.

5.   Why analyze the market?

How to Answer

The answer may seem obvious to you, but how would you explain it? Break it down as if you were talking to a client. Some of your clients may not have the knowledge to know why analyzing their target market will be so important to their future business. By saying, "Market analysis will benefit your ability to make sound decisions as you develop your product," you have already shared one way analysis is helpful. You could continue by listing how researching changing technologies and competitor activity are beneficial as well. Give a brief explanation and be sure to use terminology that is relevant to your audience.

Answer Example

"Market analysis will benefit your ability to make sound decisions as you develop your product,"

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