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The differences between market development specialists and product specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a market development specialist and a product specialist. Additionally, a product specialist has an average salary of $85,932, which is higher than the $58,991 average annual salary of a market development specialist.
The top three skills for a market development specialist include market development, healthcare and heart failure. The most important skills for a product specialist are customer service, product knowledge, and sales floor.
| Market Development Specialist | Product Specialist | |
| Yearly salary | $58,991 | $85,932 |
| Hourly rate | $28.36 | $41.31 |
| Growth rate | 19% | 19% |
| Number of jobs | 82,421 | 103,863 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 64% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
A market development specialist works on different marketing programs and projects to secure sales and premium goals. They develop and execute training strategies and programs, perform market research and analyses to find business opportunities, study the consumers and competitors, and create sales pitches ideal for field operations. They may also reach out directly to clients by calls, emails, or appointments, offer products and services, and establish positive relationships through efficient services. Additionally, a market development specialist oversees every marketing project's progress, producing reports for managers regularly.
A product specialist is required to have excellent knowledge about a product and work with a business unit to ensure excellent product delivery. Product specialists perform product demonstrations to customers and other stakeholders and assist in their promotions and product releases. To gain increased revenue, product specialists must be able to identify new market opportunities. They are required to conduct product and sales training for the marketing team. They must also provide reports about their product-related activities to the management.
Market development specialists and product specialists have different pay scales, as shown below.
| Market Development Specialist | Product Specialist | |
| Average salary | $58,991 | $85,932 |
| Salary range | Between $39,000 And $87,000 | Between $56,000 And $130,000 |
| Highest paying City | Wilmington, DE | San Bruno, CA |
| Highest paying state | Delaware | California |
| Best paying company | Amazon | ByteDance |
| Best paying industry | Finance | Technology |
There are a few differences between a market development specialist and a product specialist in terms of educational background:
| Market Development Specialist | Product Specialist | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between market development specialists' and product specialists' demographics:
| Market Development Specialist | Product Specialist | |
| Average age | 37 | 37 |
| Gender ratio | Male, 59.6% Female, 40.4% | Male, 59.8% Female, 40.2% |
| Race ratio | Black or African American, 5.2% Unknown, 5.0% Hispanic or Latino, 12.4% Asian, 9.6% White, 67.6% American Indian and Alaska Native, 0.1% | Black or African American, 5.2% Unknown, 5.0% Hispanic or Latino, 12.5% Asian, 10.6% White, 66.6% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |