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Become A Market Research Analyst

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Working As A Market Research Analyst

  • 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

  • $43,000

    Average Salary

What Does A Market Research Analyst 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 Research Analyst

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 Research Analyst jobs

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Real Market Research Analyst Salaries

Job Title Company Location Start Date Salary
Market Research Analyst Adil Business Systems Inc. Ashburn, VA Dec 27, 2011 $83,480
Market Research Analyst Adil Business Systems Inc. Ashburn, VA Jan 05, 2012 $83,480
Market Research Analysts Infonetics Research, Inc. Ashburn, VA Feb 19, 2010 $73,820 -
$89,500
Market Research Analyst Metanoia Solutions Inc. Ashburn, VA Sep 07, 2015 $60,000
Market Research Analyst Zillion Technologies Inc. Ashburn, VA Sep 04, 2014 $60,000
Market Research Analyst Infogen Software Inc. Ashburn, VA May 18, 2016 $45,000
Market Research Analyst Forno, LLC Ashburn, VA Oct 30, 2009 $44,766
Market Research Analyst Forno, LLC Ashburn, VA Oct 15, 2009 $44,766
Market Research Analyst Flintstone Marble & Granite, LLC Ashburn, VA Oct 01, 2012 $43,000
Market Research Analyst Viewsoft Inc. Ashburn, VA Sep 28, 2011 $43,000
Market Research Analyst Flintstone Marble & Granite, LLC Ashburn, VA Oct 01, 2012 $42,784
Market Research Analyst Flintstone Marble & Granite, LLC Ashburn, VA Oct 01, 2012 $42,575
Market Research Analyst Zillion Technologies Inc. Ashburn, VA Aug 16, 2015 $42,500
Market Research Analyst 2M Associates, Inc. Ashburn, VA Apr 09, 2009 $42,474
Market Research Analysts and Marketing Specialists* Viewsoft Inc. Ashburn, VA Nov 20, 2013 $42,411
Market Research Analyst Viewsoft Inc. Ashburn, VA Aug 05, 2015 $42,411
Market Research Analyst Zillion Technologies Inc. Ashburn, VA Sep 04, 2014 $41,496

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Top Skills for A Market Research Analyst

NewProductDevelopmentFinancialAnalysisMarketResearchProjectsPowerpointMarketTrendsIn-DepthDataAnalysesFocusGroupsCustomerSatisfactionSpssBusinessDevelopmentMarketResearchAnalysisSecondaryMarketResearchMarketResearchStudiesMarketResearchDataCustomerServiceInternalClientsRealEstateDataCollectionMarketResearchReportsCompetitiveAnalysis

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Top Market Research Analyst Skills

  1. New Product Development
  2. Financial Analysis
  3. Market Research Projects
You can check out examples of real life uses of top skills on resumes here:
  • Created Feasibility Summary for new product development to include Technology Readiness, Manufacturing Capabilities, Resources and Expertise.
  • Research included detailed financial analysis.
  • Conceptualized and designed quantitative and qualitative market research projects.
  • Translated statistical data into strategic, relevant, concise and insightful PowerPoint data stories and presented to stakeholders.
  • Researched industry and market trends and presented pertinent information utilized in corporate strategic planning.

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