What are the Basic Requirements for Getting a Pharma Market Research Job?
What the Job Entails
A market research job in the pharmaceutical sector includes the conducting of projects related to complex market research. You should be well aware of the different quantitative, qualitative as well as other techniques for research for executing the project. After doing research, you will have to blend the findings of the research and create reports that focus on the results and offer insights into the market trends. You will also have to make presentations to your clients on the findings of the research related to the specific project. The findings need to be interpreted in such a manner as to offer the next action steps to be taken in order to have a positive impact on the client’s position in the market.
You can find such jobs in pharmaceutical companies and also in consulting firms. As a marketing researcher, you must understand the market and be able to suggest new changes to the previous ones to help the client or company succeed. There are also many marketing research companies where you can find employment. These companies are consultants for many of the pharma companies.
Requirements for the Job
It is important that you should be capable of conducting research projects. You should also have knowledge of quantitative and qualitative steps required in such research. It is enough if you have an educational qualification of a Masters in Business Administration. Additionally, it would be beneficial if you have done an undergraduate study in a pharmaceutical background or some scientific discipline.
Nature of the Job
The pharma marketing research job is as demanding as any other marketing research job. Here, you will have to find details regarding the factors that influence a customer in buying a particular pharma product over another. You will also have to understand the various medical products, the type of consumers who demand it, the practitioners who prescribe it and conduct research on the factors that influence them in their choices of medicines and in medical equipment. Hence, it is a combination of analyzing statistics along with making observations on a social and psychological level. For instance, if your client is selling a particular product and their sales is seen to be dropping, it will be your duty to find out why consumers are going in for an alternate product, so that your client is able to make a product that satisfies consumers.
While implementing the methodologies, you should be able to move in a quick and timely manner, so that the project is completed within the stipulated time, as market conditions might change over a longer period of time.
Many companies recruiting pharma research personnel will require a Bachelor’s Degree or a Masters Degree that focuses on marketing research. You must also have a basic understanding of the pharma industry with one or two years experience. The social aspect of it includes an understanding of consumers and the statistical aspect requires a strong math and statistical base. You should also be computer literate, as such projects usually make use of sophisticated software to compile and correlate the data that is collected.
Further, you must have good communication skills, the capability to logically understand sequences in data strings, skills for creating relevant questionnaires to be used in the marketing surveys and so on.