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Become A Market Research Consultant

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Working As A Market Research Consultant

  • 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

  • $69,780

    Average Salary

What Does A Market Research Consultant 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 Consultant

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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Do you work as a Market Research Consultant?

Market Research Consultant Jobs

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Market Research Consultant Career Paths

Market Research Consultant
Product Manager Brand Manager Marketing Manager
Brand Marketing Manager
7 Yearsyrs
Marketing Research Analyst Senior Marketing Research Analyst Research Manager
Consumer Marketing Manager
6 Yearsyrs
Marketing Consultant Marketing Manager General Manager
Director Of Sales
10 Yearsyrs
Senior Manager Director Of Sales
Director Of Sales And Marketing
9 Yearsyrs
Analyst Business Analyst Marketing Manager
Director, Global Marketing
12 Yearsyrs
Marketing Research Analyst Research Manager Market Research Manager
Director, Market Research
10 Yearsyrs
Product Manager Sales Manager Marketing Manager
Director, Product Marketing
11 Yearsyrs
Marketing Manager Marketing Director
General Manager
7 Yearsyrs
Marketing Manager General Manager Account Executive
Marketing Director
7 Yearsyrs
Project Manager Program Manager
Marketing Manager
6 Yearsyrs
Analyst Senior Manager Marketing Consultant
Marketing Strategist
6 Yearsyrs
Senior Consultant Product Manager Sales Manager
National Sales Manager
10 Yearsyrs
Account Executive Territory Manager Account Manager
Product Manager
7 Yearsyrs
Senior Consultant Program Manager Marketing Manager
Product Marketing Manager
7 Yearsyrs
Market Research Manager Product Manager Marketing Manager
Regional Marketing Manager
7 Yearsyrs
Market Research Manager Marketing Manager Marketing Director
Senior Director Of Marketing
13 Yearsyrs
Project Manager Senior Project Manager
Senior Product Manager
9 Yearsyrs
Senior Manager Senior Project Manager Senior Product Manager
Senior Product Marketing Manager
10 Yearsyrs
Account Executive Office Manager Account Manager
Strategic Accounts Manager
9 Yearsyrs
Marketing Consultant Marketing Director Business Developer
Vice President, Business Development
13 Yearsyrs
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Do you work as a Market Research Consultant?

Help others decide if this is a good career for them

Average Length of Employment
Consultant 2.4 years
Market Analyst 2.1 years
Research Analyst 2.0 years
Market Researcher 1.7 years
Top Employers Before
Internship 9.0%
Consultant 7.8%
Analyst 3.9%
Top Employers After
Consultant 12.3%
Internship 3.9%
Manager 3.2%

Do you work as a Market Research Consultant?

Market Research Consultant Demographics

Gender

Male

50.3%

Female

45.4%

Unknown

4.3%
Ethnicity

White

55.1%

Asian

16.9%

Hispanic or Latino

13.7%

Black or African American

10.4%

Unknown

3.9%
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Languages Spoken

Spanish

30.2%

Chinese

11.6%

French

10.9%

Mandarin

9.3%

Portuguese

9.3%

Russian

4.7%

Japanese

4.7%

Italian

3.9%

Hindi

3.1%

German

2.3%

Arabic

2.3%

Vietnamese

1.6%

Swedish

0.8%

Telugu

0.8%

Gujarati

0.8%

Korean

0.8%

Indonesian

0.8%

Ukrainian

0.8%

Armenian

0.8%

Afrikaans

0.8%
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Market Research Consultant Education

Schools

University of Connecticut

8.3%

Arizona State University

6.8%

Stanford University

6.1%

University of Phoenix

6.1%

Syracuse University

5.3%

George Washington University

5.3%

University of Texas at Austin

5.3%

Columbia University

5.3%

New York University

4.5%

Pennsylvania State University

4.5%

Fordham University

4.5%

University of Southern California

4.5%

Harvard University

4.5%

University of Massachusetts Amherst

4.5%

University of Oregon

4.5%

University of California - San Diego

4.5%

Michigan State University

3.8%

Pace University - New York

3.8%

University of Pennsylvania

3.8%

Cornell University

3.8%
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Majors

Business

30.5%

Marketing

18.4%

Finance

9.6%

Economics

6.6%

Management

6.3%

Communication

4.5%

Accounting

2.9%

Psychology

2.7%

Management Science

2.1%

Counseling Psychology

1.8%

Political Science

1.8%

Public Relations

1.8%

Sociology

1.8%

Public Administration

1.6%

Anthropology

1.4%

Project Management

1.4%

Health Care Administration

1.4%

Mathematics

1.4%

International Business

1.2%

Computer Science

1.2%
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Degrees

Masters

48.0%

Bachelors

33.1%

Other

9.7%

Doctorate

4.3%

Certificate

3.1%

Associate

1.3%

Diploma

0.4%
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Real Market Research Consultant Salaries

Job Title Company Location Start Date Salary
Market Risk Consultant (Mathematical Modeling) Wells Fargo Securities, LLC. Charlotte, NC Oct 01, 2015 $162,500
Market Risk Consultant Wells Fargo Securities, LLC Charlotte, NC Aug 03, 2016 $162,500
Market Risk Consultant (Mathematical Modeling) Wells Fargo Securities, LLC New York, NY May 14, 2013 $143,000
Market Risk Consultant (Trading Systems) Wells Fargo Securities, LLC Charlotte, NC May 08, 2013 $141,000
International Go-To-Market Consultant Accenture LLP Northfield, IL Jun 04, 2010 $130,000
Market Access Consultant Team Trade USA LLC New York, NY Nov 01, 2010 $120,000
Market Research Consultant C1 Consulting LLC San Francisco, CA Sep 11, 2010 $120,000
Consultant I, Market Research CMFG Life Insurance Company Madison, WI Jan 03, 2016 $97,026
Market Consultant Ct Corporation Systems New York, NY Aug 07, 2014 $96,096 -
$120,000
Market Research Consultant Lightfish Technology Inc. Mountain View, CA Jun 12, 2011 $96,000
Market Research Consultant Lightfish Technology Inc. Mountain View, CA Oct 01, 2011 $96,000
Market Risk Consultant Murex North America, Inc. New York, NY Jul 02, 2012 $95,000
Market Research and Pricing Consultant Pro Unlimited, Inc. Boston, MA Dec 09, 2016 $93,600
Market Information Consultant CP Bank of America N.A. Charlotte, NC Jul 01, 2011 $90,043 -
$110,000
Market Research Consultant Caterpillar Inc. Peoria, IL Sep 30, 2010 $75,384
Market Information Consultant CP Bank of America N.A. Charlotte, NC May 01, 2011 $75,000 -
$95,000
Market Research Consultant Attune LLC San Francisco, CA Sep 10, 2015 $72,000
Market Research Consultant Clear USA, LLC New York, NY Jul 30, 2015 $71,500
Senior Market Research Consultant Informa Business Intelligence, Inc. Memphis, TN Sep 03, 2016 $71,395
Market Information Consultant CP Bank of America N.A. New York, NY May 17, 2013 $70,000 -
$90,000
Market Research Consultant Synovate Management Analytics Inc. New York, NY Sep 09, 2015 $70,000
Market Research Consultant Informa Economics, Inc. Memphis, TN Oct 01, 2011 $55,000
TPM Consultant Latin America and Domestic Markets Marshall Institute, Inc. Raleigh, NC Nov 21, 2011 $52,250 -
$85,000
Market Research Consultant Aqua Market of Weston, Inc. Margate, FL Oct 23, 2012 $52,175
Hospitality Industry Market Research Consultant Hospitality Advisors LLC Urban Honolulu, HI Apr 04, 2014 $52,000
TPM Consultant Latin America and Domestic Markets Marshall Institute Inc. Raleigh, NC Nov 15, 2009 $51,000
Market Research Consultant Reussir, Inc. Jackson, NY Sep 23, 2013 $50,088 -
$52,175
Market Research Consultant Mind Genomics Associates Inc. White Plains, NY Sep 09, 2015 $50,000

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Top Skills for A Market Research Consultant

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  1. Strategic Recommendations
  2. New Product Development
  3. Market Research
You can check out examples of real life uses of top skills on resumes here:
  • Analyzed market and trend data to formulate strategic recommendations for entering new markets.
  • Provided clients with case-specific market research, portfolio strategy recommendations, commercial negotiation, financial analysis, and agreement execution !
  • Analyzed government financial statements, created detailed templates, and developed methodologies for modeling.
  • Delivered in-depth competitive analysis along with high level assessment of leading social media/ cloud networks used among schools for promotional purposes.
  • Performed a co-leading role in telephone interview moderation, data analysis and final report development for 7 research initiatives.

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Top Market Research Consultant Employers

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