What Does A Market Research Analyst Do?
Market Research Analysts typically work for corporations across industries or as employees of a marketing firm to help Product Engineers, Sales and Marketing professionals figure out their target audiences and budget for manufacturing products. Their job is to use computer software to record market research data and convert them into visual graphs or charts. They may also be responsible for creating polls or questionnaires to get direct feedback from consumers about preferred products and desired price ranges.
Market Research Analyst Skills and Qualifications
A Market Research Analyst generally works full-time during typical business hours. Occasionally, they are required to work additional hours to meet work deadlines and tight schedules. Skills and qualifications that are good to have include:
- Analytical skills so they can understand significant amounts of information and data.
- Communication skills for gathering and interpreting data and presenting the results to the company or clients.
- Critical thinking skills to assess all available information and determine the marketing strategy that is best for a company.
- Detail-oriented in order to complete precise data analysis.
Market Research Analyst Salary Expectations
The average salary for a Market Research Analyst is $59,978 per year. This information is based on 182 anonymously submitted Market Research Analyst salaries to Indeed in addition to past and present Indeed job postings for Market Research Analyst positions within the last 36 months. The usual tenure for a Market Research Analyst is less than a year.
Market Research Analyst Education and Training Requirements
A Market Research Analyst usually needs a bachelor’s degree in market research or similar field. Many individuals in this area have degrees in computer science, math or statistics. Others have training in communications, social sciences or business administration. Taking courses in marketing, research methods and statistics is essential for individuals in this position. Courses such as consumer behavior, economics, social sciences and communication are also important.
Occasionally, Market Research Analyst positions require a master’s degree. Several schools have graduate programs in market research, but many Market Research Analysts complete degrees in marketing and statistics. Others obtain a master’s degree in business administration (MBA). Positions performing more technical research or that are in a leadership position usually require an MBA.
Market Research Analyst Experience Requirements
Voluntary certification is a good way for a market research analyst to demonstrate professional competency in a specific area. The Professional Researcher Certification is offered through the Marketing Research Association for individuals working in the market research analyst field. Certification is awarded based on knowledge and experience, with candidates needing to pass a test, have a minimum of three years working in marketing and opinion research and successfully completing 12 hours of industry-related educational coursework. After certification, individuals need to complete 20 hours of industry-relevant continuing education courses every two years in order to renew certification.