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Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.Duties
Market research analysts typically do the following:
Market research analysts research and gather data to help a company market its products or services. They gather data on consumer demographics, preferences, needs, and buying habits. They collect data and information using a variety of methods, such as interviews, questionnaires, focus groups, market analysis surveys, public opinion polls, and literature reviews.
Analysts help determine a company’s position in the marketplace by researching their competitors and analyzing their prices, sales, and marketing methods. Using this information, they may determine potential markets, product demand, and pricing. Their knowledge of the targeted consumer enables them to develop advertising brochures and commercials, sales plans, and product promotions.
Market research analysts evaluate data using statistical techniques and software. They must interpret what the data mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research.
Workers who design and conduct surveys are known as survey researchers.
Most market research analysts need at least a bachelor’s degree. Top research positions may require a master’s degree. Strong math and analytical skills are essential.Education
Market research analysts typically need a bachelor’s degree in market research or a related field. Many have degrees in fields such as statistics, math, and computer science. Others have backgrounds in business administration, the social sciences, or communications.
Courses in statistics, research methods, and marketing are essential for these workers. Courses in communications and social sciences, such as economics or consumer behavior, are also important.
Some market research analyst jobs require a master’s degree. Several schools offer graduate programs in marketing research, but many analysts complete degrees in other fields, such as statistics and marketing, and/or earn a master’s degree in business administration (MBA). A master’s degree is often required for leadership positions or positions that perform more technical research.Licenses, Certifications, and Registrations
Certification is voluntary, but analysts may pursue certification to demonstrate a level of professional competency. The Marketing Research Association offers the Professional Researcher Certification (PRC) for market research analysts. Candidates qualify based on experience and knowledge; they must pass an exam, be a member of a professional organization, and have at least 3 years working in opinion and marketing research. Individuals must complete 20 hours of industry-related continuing education courses every 2 years to renew their certification.Important Qualities
Analytical skills. Market research analysts must be able to understand large amounts of data and information.
Communication skills. Market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients.
Critical-thinking skills. To determine what marketing strategy would work best for a company, market research analysts must assess all available information.
Detail oriented. Market research analysts must be detail oriented because they often do precise data analysis.
Average Length of Employment
Top Careers Before Market Analyst
Top Careers After Market Analyst
Hispanic or Latino9.6%
Black or African American1.0%
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New York University7.9%
University of Phoenix7.3%
University of Connecticut6.6%
University of Texas at Austin6.3%
Pennsylvania State University5.1%
George Washington University4.8%
University of Pennsylvania4.8%
Michigan State University4.2%
University of Southern California4.2%
University of Houston4.2%
Georgia State University3.9%
University of Michigan - Ann Arbor3.9%
Ohio State University3.6%
Texas A&M University3.6%
University of Colorado at Boulder3.6%
Unfortunately we don’t have enough data for this section.
|Job Title||Company||Location||Start Date||Salary|
|Emerging Markets Structured Middle Office (SMO) Analyst||Barclays Services Corp||New York, NY||Jul 30, 2015||$218,775|
|Consumer & Markets Insights Analyst||Apple Inc.||Cupertino, CA||Sep 14, 2016||$185,000 -
|Power Markets Analyst||Citigroup Energy Inc.||Houston, TX||Aug 06, 2015||$175,000|
|Markets Analyst||Citicorp North America, Inc.||New York, NY||Mar 09, 2015||$160,000|
|Global Markets Analyst||Field Street Capital Management, LLC||New York, NY||Nov 13, 2015||$160,000|
|Analyst, Emerging Markets||Rs Investment Management Co. LLC||San Francisco, CA||Jun 30, 2016||$158,974|
|International Markets Analyst||LDI Group Inc.||Salt Lake City, UT||Oct 26, 2015||$157,900|
|Debt Capital Markets Analyst||Stifel Financial Corp.||Greenwich, CT||Sep 11, 2015||$150,000|
|Market Analyst||Asia TV USA, Ltd||Iselin, NJ||Jan 09, 2016||$145,000|
|Market Analyst||B & S International Inc.||Avon, OH||Apr 15, 2015||$143,562|
|International Market Analyst, Vertical Markets||Twitter, Inc.||New York, NY||Jul 12, 2015||$142,792|
|Market Analyst||Corestrategy Corporation||Irvine, CA||Feb 24, 2016||$136,427|
|Market Analyst and Manager||Animal Care Equipment & Services, LLC||Broomfield, CO||Oct 05, 2016||$134,832|
|Market Analyst||Johnson Hotels Inc.||Pleasanton, CA||Apr 18, 2016||$134,347|
|Capital Markets Analyst II||Federal Home Loan Bank of Des Moines||Des Moines, IA||Sep 09, 2016||$69,680 -
|Secondary Market Analyst||Maxreal Cupertino||Cupertino, CA||Jan 07, 2016||$69,600|
|Market Analyst II||Airline Tariff Publishing Company (Atpco)||Dulles Town Center, VA||Aug 31, 2016||$69,493 -
|Telecom Market Analyst||Bruel & Kjaer North America Inc.||Aptos, CA||Mar 20, 2016||$69,410 -
|Statistician-Market Analyst||Love's Travel Stops & Country Stores||Oklahoma City, OK||Aug 25, 2015||$69,347 -
|Data Scientist-Market Analyst||Sourcelink Acquisition LLC||Greenville, SC||Oct 09, 2016||$68,000|
|Hospitality Market Analyst||APIC Hotel Management California LLC||San Francisco, CA||Jul 09, 2016||$50,960|
|Market Reseach Analyst||Nishimoto Trading Co Ltd DBA Wismettac Asian Foods||Norcross, GA||Oct 27, 2016||$50,794|
|Market Analyst||Shenhua International America, LLC||Mount Prospect, IL||Feb 01, 2015||$50,700 -
|Market Analyst||Impex GLS, Inc.||Wood Dale, IL||Jan 27, 2015||$50,589|
|Market Analyst||Alpha Search Advisory Partners LLC||Manhasset, NY||Oct 01, 2015||$50,568|
|Market Analyst||Asia TV USA, Ltd.||Iselin, NJ||Jan 04, 2016||$50,000|
|Market Analyst||AQM Capital LLC||New York, NY||Aug 18, 2016||$50,000|
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