Market Research Analyst Location: Corporate Office - Leesburg, VA Full Time Requisition Number: req362
Summary: The Analyst Market Research is responsible for: conducting primary and/or secondary market research projects in assigned product and sales areas; coordinating these projects with marketing, engineering, sales and production counterparts; and, communicating findings/ market insights to key internal stakeholders.
Essential Duties and Responsibilities include the following:
Examines and analyzes statistical data using computer modeling techniques to forecast future marketing and product trends, including NPV, ROI, IRR calculations.
Provides analytical support for product performance monitoring, preparing periodic reports and situation analyses as required via ongoing tracking of product performance against goals. Maintains project records for future use.
Prepares and delivers statistical reports on sales activity, customers, markets, competitors, and products to marketing, engineering and sales management.
Analyzes and interprets data to identify patterns and solutions.
Conducts primary and/or secondary market research projects for new and established products or as assigned by management (research includes clinical applications as well as products and sales performance).
On primary market research studies, ensures that project timetables and logistics are effectively managed.
Conducts qualitative or quantitative surveys, which may involve field, interview or focus group assessments.
Supports the development and management of an annual market research plan
Ensures primary and qualitative secondary research strategies are executed in harmony with commercial needs and within approved budget.
Understands underlying therapeutic areas and spinal market trends and environmental factors.
Provides input and integrates results from primary marketing research initiatives in order to better support forecasting by Product Managers.
Maintains knowledge of therapeutic areas and related commercial products, competitive products, potential markets, customers, potential products/ line extensions.
Prepares clear and actionable analyses, communicating these to sales/marketing teams and other appropriate audiences (e.g. senior management, production, and engineering). Identifies issues and proactively pursues solutions.
Closely interacts with relevant marketing, engineering and sales teams to ensure that current data and analytical needs are met, while anticipating and planning for future requirements.
On primary market research studies communicates to and coordinates with all appropriate parties.
Presents graphic illustrations of findings and recommendations to management.
Uses statistical software to manage and organize information.
Manages ad hoc reports for management.
Participates in special projects as deemed necessary by the Marketing and Sales Department Heads.
Contributes to departmental initiatives aimed at improving market research procedures and methodologies as required.
Teams with other members of marketing organization on special projects related to specific business issues or cross-product initiatives.
Maintains expertise in marketing and marketing research and stays abreast of new developments through contacts with institutions, professional organizations, publications and vendors.
Provides training on market research tools and techniques to others.
Knowledge, skills, and abilities required:
Well-developed written, oral, and presentation skills.
Strong analytic skills with experience in statistical and/or financial modeling and analysis.
Successful relationship management experience, working in cross-functional teams.
Must be familiar with electronic databases (e.g., Microsoft Access, JD Edwards Enterprise One, IBM Cognos, etc.)
Bachelor's Degree from a 4 year accredited University or College. Marketing or Finance concentration a plus.
2 years Marketing, Finance or Operations experience.
Knowledge of the Medical Device Industry is a plus.
Language Ability: Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, customers, and the general public.
Math Ability: Ability to calculate figures and amounts, such as proportions, percentages, etc. Ability to apply concepts of basic algebra.
Reasoning Ability: Must be able to investigate, analyze, and present data. Requires the ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
Computer Skills: Proficient in Microsoft Office Suite to include Word, Excel, PowerPoint, and Outlook.
Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel objects, tools, or controls. The employee frequently is required to stand, walk, sit, reach with hands and arms, and talk or hear. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.