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Become A Market Development Specialist

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Working As A Market Development Specialist

  • Analyzing Data or Information
  • Getting Information
  • Interacting With Computers
  • Interpreting the Meaning of Information for Others
  • Communicating with Supervisors, Peers, or Subordinates
  • Mostly Sitting

  • Make Decisions

  • $52,000

    Average Salary

What Does A Market Development Specialist Do

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:

  • Monitor and forecast marketing and sales trends
  • Measure the effectiveness of marketing programs and strategies
  • Devise and evaluate methods for collecting data, such as surveys, questionnaires, and opinion polls
  • Gather data on consumers, competitors, and market conditions
  • Analyze data using statistical software
  • Convert complex data and findings into understandable tables, graphs, and written reports
  • Prepare reports and present results to clients and management

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.

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How To Become A Market Development Specialist

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.

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Market Development Specialist jobs

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Market Development Specialist Demographics

Gender

Male

59.5%

Female

38.2%

Unknown

2.3%
Ethnicity

White

81.4%

Asian

8.2%

Hispanic or Latino

7.9%

Unknown

1.9%

Black or African American

0.6%
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Languages Spoken

Spanish

36.7%

Portuguese

16.7%

Chinese

10.0%

French

6.7%

Arabic

6.7%

Korean

6.7%

Nepali

3.3%

German

3.3%

Hindi

3.3%

Urdu

3.3%

Italian

3.3%
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Market Development Specialist Education

Schools

Canisius College

16.0%

State University of New York Buffalo

10.7%

State University of New York at Fredonia

8.0%

Niagara University

8.0%

University of Phoenix

6.7%

Nova Southeastern University

5.3%

Liberty University

4.0%

American University

4.0%

Erie Community College

4.0%

Michigan State University

4.0%

Northeastern University

4.0%

Saint Bonaventure University

4.0%

Saint Cloud State University

2.7%

University of Akron

2.7%

Ohio University -

2.7%

Bentley University

2.7%

Western Governors University

2.7%

University of Pennsylvania

2.7%

Temple University

2.7%

Saginaw Valley State University

2.7%
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Majors

Business

30.8%

Marketing

18.5%

Communication

7.6%

Management

4.3%

Psychology

3.8%

English

3.3%

Education

3.3%

Biology

2.8%

Finance

2.8%

Public Relations

2.8%

Project Management

2.8%

Mechanical Engineering

2.4%

Economics

2.4%

History

2.4%

Kinesiology

1.9%

Engineering And Industrial Management

1.9%

Liberal Arts

1.9%

Political Science

1.4%

Computer Science

1.4%

Accounting

1.4%
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Degrees

Bachelors

49.5%

Masters

31.9%

Other

12.5%

Certificate

2.5%

Associate

2.5%

Doctorate

0.7%

License

0.4%
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Real Market Development Specialist Salaries

Job Title Company Location Start Date Salary
Senior Market Development Specialist Medtronic, Inc. Los Angeles, CA Apr 28, 2016 $143,458
Principal Market Development Specialist Medtronic, Inc. Los Angeles, CA Jan 09, 2016 $120,069
SR. Market Development Specialist Medtronic, Inc. Los Angeles, CA Sep 12, 2011 $103,008
Market Development Hispanic Specialist Edward D. Jones & Co. L.P. Saint Louis, MO Jul 27, 2016 $93,562
Market Development Hispanic Specialist Edward Jones Saint Louis, MO Jun 15, 2016 $93,562
Market Development Specialist Eastman Chemical Company Saint Louis, MO Sep 15, 2016 $92,580 -
$102,580
Market Development Hispanic Specialist Edward Jones Saint Louis, MO Jun 15, 2013 $89,653
North America Market Development Specialist Hempel (USA) Inc. Conroe, TX Sep 30, 2015 $84,885
Market Development Specialist CBM International Resources Inc. Bellevue, WA Apr 14, 2015 $83,928
Senior LFT Market Development Specialist Polyone Corporation Avon Lake, OH Aug 30, 2016 $82,014 -
$102,120
Bilingual Market Development Specialist Pas Satellite Networks Inc. CO Dec 09, 2013 $78,367
Market Development Specialist Medtronic, Inc. Memphis, TN Sep 02, 2014 $75,000
Biotherapeutics Market Development Specialist Cisbio-Us, Inc. Bedford, MA Sep 19, 2011 $73,730
Business and Market Development Specialist Tire Experts LLC Miami, FL Mar 03, 2015 $71,535
PR. Market Development Specialist Medtronic, Inc. Santa Rosa, CA Sep 26, 2010 $65,790 -
$121,849
Market Development Specialist American Research Center for Ivy League Education Inc. NY Sep 22, 2016 $62,610
Market Development Specialist International Intangible Cultural Heritage Organization Inc. NY Sep 16, 2016 $61,796 -
$62,610
Market Development Specialist II Ingram Micro, Inc. Miami, FL Sep 13, 2016 $61,200
Market Development Specialist Nikko Ceramics, Inc. Fairview, NJ Sep 20, 2013 $60,648
International Market Development Specialist Global Convergence Solutions, Inc. New York, NY Aug 12, 2014 $60,100
International Market Development Specialist Global Convergence Solutions, Inc. New York, NY Dec 08, 2014 $60,100
Market Development and Multimedia Communications Specialist Boyle Energy Services & Technology, Inc. Manchester, NH Sep 30, 2015 $54,246
International Market Development Specialist Viega, LLC Wichita, KS Oct 01, 2011 $54,000
Market Development Specialist Clyde Union Inc. Houston, TX Sep 17, 2010 $50,000
International Market Development Specialist Fusion Accessories Group Corp New York, NY Aug 22, 2016 $50,000
Market Development Specialist Vino.Com LLC DBA Total Beverage Solution Mount Pleasant, SC Jul 26, 2011 $50,000
Market Development Specialist KGI Trading Ga, Inc. Suwanee, GA May 26, 2012 $50,000
Market Development Specialist Komolo Ga, Inc. Suwanee, GA May 11, 2012 $50,000
Market Development Specialist Baillie Lumber Co., L.P. Hamburg, NY Aug 29, 2015 $48,485

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Top Skills for A Market Development Specialist

ProductLineRevenueGrowthMarketDevelopmentResellerPartnersMarketShareSalesRepsBusinessDevelopmentBusinessUnitProfitableSalesYOYInternalSalesHealthcareProductOfferingsTrainingSessionsTradeShowsTechnicalSupportCustomerServiceOEMAccountExecutivesSalesSupport

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Top Market Development Specialist Skills

  1. Product Line
  2. Revenue Growth
  3. Market Development
You can check out examples of real life uses of top skills on resumes here:
  • Increased company sales in Central Ohio by marketing new product lines, alternative materials, and promotional campaigns to clients.
  • Analyzed market potential and researched prospective customers for revenue growth opportunities.
  • Market Development: Research market to aid in the development of a new on line gas analyzer instrument.
  • Developed relationships to grow market share, revenue and profitability.
  • Developed training materials and presented to Ingram Micro Sales reps on IBM s pricing and programs.

Top Market Development Specialist Employers