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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:
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.
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.
|Job Title||Company||Location||Start Date||Salary|
|Director, Marketing Research||Thor High Street Advisors LLC||New York, NY||Mar 21, 2013||$250,000 -
|Director, Marketing Research and Strategy||Ngmoco, LLC||San Francisco, CA||Sep 13, 2013||$175,000|
|Director, Marketing and Research||The Dispatch Printing Company||Columbus, OH||Jan 31, 2015||$158,570|
|Director, Marketing Research||PBS Real Estate LLC||New York, NY||Sep 21, 2011||$150,000 -
|Director of Marketing Research||Medical Marketing Economics LLC||Oxford, MS||Sep 25, 2013||$143,186|
|Manager, Marketing Research-Secondary Research||Allergan USA, Inc.||Irvine, CA||Sep 14, 2015||$135,000|
|Manager, Payor Marketing Research & Analytics||Abbvie Inc.||North Chicago, IL||Jun 02, 2014||$127,190|
|International Marketing Research Strategist||Union Entertainment Group, Inc.||Huntington Beach, CA||Oct 01, 2011||$120,000 -
|International Marketing Research Strategist||Union Entertainment Group, Inc.||Huntington Beach, CA||Oct 01, 2014||$120,000 -
|Manager, Payor Marketing Research and Analytics||Abbvie Inc.||North Chicago, IL||Aug 05, 2013||$115,000|
|Director of Marketing Research||Medical Marketing Economics, LLC||Oxford, MS||Sep 26, 2010||$112,200|
|Director of Marketing & Research||Twin Marquis Inc.||New York, NY||Aug 29, 2008||$108,879|
|Assistant Director of Marketing & Research||275 Pleasant Avenue Corporation||Windham, NY||Oct 01, 2009||$89,627|
|Director II Marketing Research||Fidelity Brokerage Services LLC||Smithfield, RI||Sep 13, 2016||$87,381 -
|Manager-Marketing Research & Analysis||Arkstek, Inc.||Aurora, CO||Dec 05, 2012||$85,000|
|Manager of Marketing Research||Medical Marketing Economics, LLC||Oxford, MS||Sep 26, 2010||$81,157|
|President-On Line Marketing and Research||Imediastreams LLC||Newark, NJ||Feb 07, 2010||$80,000|
|President-On Line Marketing & Research||Imediastreams LLC||Newark, NJ||Feb 08, 2010||$80,000|
|Program and Marketing Researcher||T&H Lemont||Countryside, IL||Jun 09, 2016||$51,106 -
|Marketing Research Analytst||Fractal Analytics Inc.||Jersey City, NJ||Nov 15, 2011||$50,939|
|Marketing Researcher||Valkyr Consulting, LLC||New York, NY||Feb 15, 2010||$50,668|
|Marketing Research, Asia||Osemi Inc.||River Falls, WI||Sep 13, 2014||$50,000|
|Senior Specialist, Marketing Research||The Northern Trust Company||Chicago, IL||Nov 24, 2012||$49,000 -
|Marketing/Financial Researcher||Multinet International Inc.||New York, NY||Oct 01, 2011||$48,168|
|SR. Analyst, Marketing Research||Cardinal Health, Inc.||Twinsburg, OH||Sep 09, 2014||$47,709|
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