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Market Insight Officer

Closing: Apr 18, 2024

Closing today

Published: Apr 3, 2024 (16 days ago)

Job Requirements

Education:

Work experience:

Language skills:

Job Summary

Contract Type:

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Contacts and Purpose of Contact
Internal Contacts (most frequent contacts):
  • Heads of Departments
  • Operations Managers
  • Key job holders in the department

Purpose of Contact:

  • Exchange or provide information
  • Obtain, clarify, and discuss information
  • Present, discuss information and problems
  • Collaborate, negotiate and present ideas
  • Deal with influence or motivate subordinates
  • Promote, justify or settle highly sensitive matters

External Contacts (most frequent contacts):

  • Service Providers/ Vendors
Responsibilities
Contacts and Purpose of Contact
Internal Contacts (most frequent contacts):
  • Heads of Departments
  • Operations Managers
  • Key job holders in the department

Purpose of Contact:

  • Exchange or provide information
  • Obtain, clarify, and discuss information
  • Present, discuss information and problems
  • Collaborate, negotiate and present ideas
  • Deal with influence or motivate subordinates
  • Promote, justify or settle highly sensitive matters

External Contacts (most frequent contacts):

  • Service Providers/ Vendors

Job Purpose

  • The Market Insight Officer is responsible for continuously researching markets, analyze competitor pricing and strategies, and adapting offerings to maintain competitiveness and profitability in a dynamic market landscape

Core Duties and Key Result Areas
Market Research:

  • Conduct research on target markets and competitor activity.
  • Monitor price sensitivity and competitive pricing trends to optimize pricing decisions and maximize profitability.
  • Identify opportunities for product differentiation and market positioning to stay ahead of competitors.
  • Monitor competitor pricing, menu offerings, pricing strategies, promotions, and marketing strategies to inform strategic decisions and maintain a competitive advantage.
  • Analyse market trends to identify opportunities for menu optimization.
  • Stay abreast of fast-moving market and competitive developments.

Reporting:

  • Prepare comprehensive reports, presentations, and dashboards to communicate findings and recommendations to key stakeholders, including senior management

Key Performance Indicators

  • Weekly price trend report
  • Weekly competitor updates on pricing, promotion, menu offerings
  • Monthly Market trend report

Decision Expectations:

  • Utilize market research insights to inform pricing and product positioning decisions.
  • Implement findings from competitor pricing and menu analysis.
  • Convert market insights into actionable menu and promotional recommendations.
  • Incorporate market and competitive developments into quarterly strategic reviews.

Requirements

  • Bachelor's Degree in Accounting / Finance / Statistics or related field
  • Membership of the ACCA, ACA or any other related professional qualification is required.
  • Minimum of 0-2 years experience in market research, data analysis, or business intelligence,.
  • Experience in a QSR company in a similar role is an asset

Knowledge Requirements:

  • Demonstrates good research, quantitative, and analytical skills.
  • Excellent attention to detail
  • Competent in software programs such as Microsoft Office, Excel and PowerPoint
  • Highest standards of accuracy and precision; highly organized
  • Demonstrates commercial and economic awareness, including an awareness of global economic factors that can influence the Food & Beverage and QSR industry.
  • Ability to think creatively, highly driven and self-motivated.
  • Knowledge of written and verbal communication skills.

Working Conditions

  • The Job holder typically work 40 hours per week, Monday to Friday, although some roles may involve weekend or evening work.
  • This role is largely office-based, as it involves a lot of large data gathering, analysis and reporting.

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