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Browse all of the tabs below for info about Market Research Analysts:
Market Research Analysts
Market research analysts collect and interpret data in order to determine the demand for potential products and services. They collect and examine information to determine why and how people spend money. A market research analyst assists companies in finding and marketing products to the most likely customers. Increasingly, those involved in market research analysis also assist clients implement the ideas and suggestions they provide. Market research analysts are employed in most industries.
Some of the common job titles are market analyst, market research consultant, market research manager, communications specialist, client services and consulting manager, and business development specialist.
Marketing research consultants formulate reports and make recommendations based on their research. Some marketing research personnel are involved with assisting a company with establishing or modifying sales procedures and policies.
The information and recommendations made by market research analysts helps companies decide if they should manufacture and sell a particular product. They also help companies decide what advertising media will be most effective and the name for a new product. Market research consultants also collect data on competitors and examine competitors prices, sales, and methods of marketing and distribution.
Some marketing research personnel specialize in advertising and are known as advertising researchers or advertising analysts. They perform surveys to determine which particular advertisements sell which particular products and why. They also recommend which types of media, such as television, radio or newspapers should be utilized by a particular advertiser.
A marketing department is typically comprised of a marketing research director, senior and junior analysts, field workers, survey researchers, coders and tabulators. The staff performs the various stages of marketing research.
Market Research Analysts Responsibilities
A market research analyst needs strong analytical, written, oral and communication skills. They should also be detailed oriented since they spend a substantial amount of time performing precise data analysis.
They write reports, create statistical charts and are often part of a research team. Those that perform personal interviews have frequent contact with the public. Meeting deadlines may necessitate working overtime. Sometimes travel is required for the occupation.
Employment Outlook
Employment of market and survey researchers is forecasted by the Bureau of Labor Statistics to grow by 20% between 2006 and 2016 which is faster than the average for all occupations. The globalization of the marketplace increases the demand for market and survey researchers due to the need to evaluate foreign markets and competition.
In 2008 the median annual earnings of market research analysts was $61,070. Computer and peripheral equipment manufacturing and software publishers are two of the highest paying industries for the occupation.
Employment opportunities should be best for candidates which have earned a master's degree or Ph.D in marketing or a related field and have strong quantitative skills. Among those with a bachelor's degree, candidates with a strong background in statistics, mathematics, computer science and survey design may have the best opportunities.
Consulting firms and marketing research companies may provide the best job opportunities for marketing research analysts due to companies finding it more profitable to pay for market research services than have their own marketing department.
Market Research Analysts Education, Certification, and Licensing
Typically, a bachelor's degree is sufficient for an entry-level market research job. Employers may require a master's degree for some jobs, especially technical positions. Some market researchers achieve advanced degrees in marketing, statistics, business administration, communications and other related subjects.
Those seeking marketing research analysts jobs typically take college classes in marketing, business and consumer behavior. Other beneficial courses include psychology, economics, sociology, mathematics, statistics, computer science, sampling theory and survey design, and English.
Some schools assist graduates find part-time jobs or internships with consulting firms, government agencies, market research firms or financial institutions before they graduate. Experience can be highly beneficial in getting a full-time job in the field.
Market research analysts often begin their careers by assisting others. After they gain experience marketing research analysts are usually given their own research projects.
The Marketing Research Association provides a certification program for professional researchers who seek to demonstrate their expertise.
Resources for Market Research Analysts
Major Employers of Market Research Analysts
The top job providing industries are advertising agencies, marketing research firms, public relations firms, healthcare institutions, financial services organizations, public opinion polling companies, computer systems design and related services, insurance carriers, trade associations and industrial firms.
Schools for Market Research Analysts are listed in the column to the left.
The Top Cities tab shows employment statistics for Market Research Analysts by major metro area.
The Top Industries tab shows which industries have the most jobs for Market Research Analysts, along with salary data by industry.
The Find Schools tab lets you search for schools by field of study, degree level, and location.
These schools offer particularly quick info upon request, and we have written detailed profiles for each (click school names to see the profiles).
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We have some additional detailed pages at the state level for Market Research Analysts. These pages include maps focused on the particular state, among other details.
Numbers in parentheses are counts of relevant campus-based schools in the state; online schools may also be available.
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