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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

  • $70,000

    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 Career Paths

Market Development Specialist
Product Manager Marketing Manager
Product Marketing Manager
7 Yearsyrs
Product Manager Marketing Director Director Of Sales And Marketing
Sales And Marketing Vice President
11 Yearsyrs
Product Manager Senior Product Manager
Product Management Director
12 Yearsyrs
Marketing Manager General Manager Account Manager
Regional Accounts Manager
8 Yearsyrs
Marketing Manager Marketing Director
Senior Director Of Marketing
12 Yearsyrs
Market Development Manager Business Development Manager Marketing Director
Director, Global Marketing
12 Yearsyrs
Market Development Manager Business Development Manager Director Of Sales And Marketing
Regional Sales Director
11 Yearsyrs
Market Development Manager Business Development Manager Senior Manager Of Marketing
Senior Product Marketing Manager
10 Yearsyrs
Regional Sales Manager General Manager Account Manager
Strategic Accounts Manager
9 Yearsyrs
Regional Sales Manager Sales And Marketing Manager Product Marketing Manager
Marketing Program Manager
6 Yearsyrs
Regional Sales Manager Sales And Marketing Manager Brand Manager
Brand Director
10 Yearsyrs
Project Manager General Manager Territory Manager
Market Development Manager
8 Yearsyrs
Project Manager Regional Manager Sales And Marketing Manager
Regional Marketing Manager
6 Yearsyrs
Project Manager Development Manager Brand Manager
Brand Marketing Manager
6 Yearsyrs
Account Manager Market Manager Marketing Communications Manager
Manager, Channel Marketing
8 Yearsyrs
Senior Sales Representative Senior Account Executive Marketing Communications Manager
Business Development And Marketing Manager
7 Yearsyrs
Senior Sales Representative Store Manager Market Manager
Manager, Field Marketing
5 Yearsyrs
Senior Sales Representative Sales Account Manager Product Marketing Manager
Partner Marketing Manager
7 Yearsyrs
Business Manager Communications Manager Marketing Manager/Project Manager
Marketing Account Manager
5 Yearsyrs
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Do you work as a Market Development Specialist?

Help others decide if this is a good career for them

Average Length of Employment
Market Specialist 2.5 years
Top Careers Before Market Development Specialist
Internship 6.6%
Manager 3.7%
Top Careers After Market Development Specialist
Consultant 5.6%
President 3.4%
Owner 3.0%

Do you work as a Market Development Specialist?

Average Yearly Salary
$70,000
Show Salaries
$42,000
Min 10%
$70,000
Median 50%
$70,000
Median 50%
$70,000
Median 50%
$70,000
Median 50%
$70,000
Median 50%
$70,000
Median 50%
$70,000
Median 50%
$117,000
Max 90%
Best Paying Company
Google
Highest Paying City
Newark, NJ
Highest Paying State
Delaware
Avg Experience Level
2.5 years
How much does a Market Development Specialist make at top companies?
The national average salary for a Market Development Specialist in the United States is $71,026 per year or $34 per hour. Those in the bottom 10 percent make under $42,000 a year, and the top 10 percent make over $117,000.

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 Komolo Ga, Inc. Suwanee, GA May 11, 2012 $50,000
Market Development Specialist KGI Trading Ga, Inc. Suwanee, GA May 26, 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

  1. New Product Development
  2. Revenue Growth
  3. Market Share
You can check out examples of real life uses of top skills on resumes here:
  • Participated in strategic team that brainstormed new product development initiatives and evaluated competitive landscape and market impact for heart failure.
  • Implemented creative and innovative marketing campaigns enhancing sales and revenue growth of the companies' L.O.A.N.
  • Reviewed product utilization, market share requirements and approved rebates.
  • Managed, supervised and trained representatives and resellers providing technical website training, content tools and sales information.
  • Planned out numerous customer interactions with Product Strategy and other home office personnel.

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Top 10 Best States for Market Development Specialists

  1. Rhode Island
  2. Massachusetts
  3. New Jersey
  4. Minnesota
  5. Delaware
  6. New York
  7. District of Columbia
  8. Texas
  9. North Carolina
  10. New Hampshire
  • (43 jobs)
  • (402 jobs)
  • (274 jobs)
  • (232 jobs)
  • (23 jobs)
  • (506 jobs)
  • (84 jobs)
  • (651 jobs)
  • (347 jobs)
  • (55 jobs)

Market Development Specialist Demographics

Gender

Male

54.9%

Female

37.7%

Unknown

7.4%
Ethnicity

White

64.2%

Hispanic or Latino

13.2%

Black or African American

11.3%

Asian

7.6%

Unknown

3.8%
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Foreign Languages Spoken

Spanish

37.5%

Portuguese

12.5%

Chinese

10.0%

French

7.5%

Mandarin

5.0%

Arabic

5.0%

Korean

5.0%

Nepali

2.5%

German

2.5%

Cantonese

2.5%

Japanese

2.5%

Urdu

2.5%

Hindi

2.5%

Italian

2.5%
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Market Development Specialist Education

Schools

Canisius College

14.4%

State University of New York Buffalo

10.6%

Niagara University

7.7%

University of Phoenix

6.7%

State University of New York at Fredonia

6.7%

Saint Cloud State University

4.8%

State University of New York College at Buffalo

4.8%

Michigan State University

4.8%

Temple University

3.8%

Ohio State University

3.8%

Northeastern University

3.8%

Saint Bonaventure University

3.8%

University of Texas at Austin

3.8%

Duquesne University

2.9%

Liberty University

2.9%

State University of New York College at Brockport

2.9%

American University

2.9%

University of Missouri - Columbia

2.9%

Fordham University

2.9%

Minnesota State University - Mankato

2.9%
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Majors

Business

33.9%

Marketing

17.3%

Communication

6.4%

Management

6.1%

Biology

3.3%

Finance

3.3%

Economics

3.0%

Psychology

3.0%

Kinesiology

2.7%

Education

2.7%

Health Care Administration

2.4%

English

2.1%

Public Relations

2.1%

Liberal Arts

1.8%

Project Management

1.8%

History

1.8%

Management Science

1.5%

Political Science

1.5%

Social Sciences

1.5%

Mechanical Engineering

1.5%
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Degrees

Bachelors

50.8%

Masters

30.8%

Other

11.7%

Associate

3.5%

Certificate

2.0%

Doctorate

0.7%

Diploma

0.4%

License

0.2%
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