Market Research Analyst Job Description: Top Duties and Qualifications

A Market Research Analyst, or Product Research Analyst, is responsible for helping businesses determine consumer needs in relation to products or services, relative pricing and product quality. Their duties include reviewing market data to isolate past trends for related products or competitor products, compiling written reports to outline prospective sales and consumer engagement for a product and using statistical software to make their calculations.

Build a Job Description

Market Research Analyst Duties and Responsibilities 

Market Research Analysts evaluate information using software and statistical techniques. They need to interpret what this data means for their client in order to forecast future trends. They often make infographics, graphs, charts and other types of visual aids to present their research results. Additional duties and responsibilities include: 

  • Monitor and predict sales and marketing trends.
  • Measure how well marketing strategies and programs are working.
  • Develop and evaluate ways to collect data including opinion polls, questionnaires, and surveys.
  • Collect data on market conditions, competitors and consumers.
  • Analyze collected data with statistical software.
  • Convert findings and complex data into tables, written reports and graphs clients can understand.
  • Create reports and share results with management and clients.

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.  

Job Description Samples for Similar Positions

Frequently asked questions about Market Research Analyst

 

What is the difference between a Market Research Analyst and a Data Scientist?

Both Market Research Analysts and Data Scientists review large groups of data to identify trends, but they differ in their areas of expertise and job focus. For example, Market Research Analysts typically have a bachelor’s degree in marketing, statistics or market research. In contrast, Data Scientists usually obtain a bachelor’s degree in information technology, computer science or statistics, followed by a master’s degree in data science. Because of their differences in education, Market Research Analysts specialize in helping corporations identify market trends and consumer demographics to contribute to better marketing campaigns and sales.

In contrast, Data Scientists use their expertise to design data systems that track and pull data from various sources. They also have the ability to focus on a wider range of topics relating to business operations. This includes hiring needs, product quality, employee productivity, employee turnover, customer feedback and technology needs.

 

What are the daily duties of a Market Research Analyst?

On a typical day, a Market Research Analyst starts by checking their email or voicemail to respond to time-sensitive messages from members of the marketing, sales or production departments. Throughout the day, they participate in marketing department meetings. Market Research Analysts present their data findings regarding consumer needs and projected product costs to provide their insights into new product features and marketing campaigns. During downtime at their desk, Market Research Analysts review large data sets and organized them into spreadsheets for future analysis.

 

What qualities make a good Market Research Analyst?

A good Market Research Analyst has an investigative nature that motivates them to review large groups of data and compile polls or surveys to gain market insights. They have excellent verbal communication, which allows them to speak with marketing, sales and production team members in a comprehensive way. Market Research Analysts also have excellent written communication, allowing them to create written reports or presentations. Further, a good Market Research Analyst knows how to use computer software to input and store data in spreadsheets or other formats.

 

Who does a Market Research Analyst report to?

A Marketing Research Analyst typically reports directly to the Marketing Department Manager to receive daily tasks like researching past or current market trends. They may also indirectly report to other department heads, including the Sales Department Manager or Product Manager, to provide consumer insights into desired price ranges or product features.

Job Description Examples

Need help writing a job description for a specific role? Use these job description examples to create your next great job posting. Or if you’re ready to hire, post your job on Indeed.

No search results found

    *Indeed provides this information as a courtesy to users of this site. Please note that we are not your career or legal advisor, and none of the information provided herein guarantees a job offer.