Job Description - Market Research Analyst:
After researching markets and then analyzing the data, a market research analyst helps companies determine what products and services to sell, how much to charge for them and where and how to sell them.
Employment Facts - Market Research Analyst:
There were 234,000 market research analysts employed in 2006.
Educational Requirements - Market Research Analyst:
Someone who wants to work as a market research analyst must have at least a bachelor's degree, but a master's degree may be required for some jobs. To prepare to become a market research analyst one should take courses in business, marketing, statistics, mathematics and survey design.
Other Requirements - Market Research Analyst:
Market research analysts may receive certification from the Marketing Research Association. This certification is based on education and experience. Market research analysts must have a strong ability to communicate in writing and orally.
Advancement Opportunities - Market Research Analyst:
After getting experience assisting others, a marketing research analyst will be assigned to his or her own projects. Marketing research analysts who want to advance to more responsible positions should take continuing education courses to keep up with the newest methods of developing, conducting, and analyzing surveys and other data. Advanced degrees are also helpful.
Job Outlook - Market Research Analyst:
Market research analysts will see faster than average job growth in this field through 2016.
Earnings - Market Research Analyst:
Median annual earnings of market research analysts were $60,300 in 2007.
Use the Salary Wizard at Salary.com to find out how much a market research analyst currently earns in your city.
A Day in a Market Research Analyst's Life:
On a typical day a market research analyst's tasks might include:
- Collecting and analyzing data on customer demographics, preferences, needs, and buying habits to identify potential markets and factors affecting product demand.
- Preparing reports of findings, illustrating data graphically and translating complex findings into written text.
- Measuring and assessing customer and employee satisfaction.
- Forecasting and tracking marketing and sales trends, and analyzing collected data.
- Measuring the effectiveness of marketing, advertising, and communications programs and strategies.
Sources:
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2008-09 Edition, Market Research Analyst, on the Internet at http://www.bls.gov/oco/ocos013.htm (visited February 18, 2009).
Employment and Training Administration, U.S. Department of Labor, O*NET Online, Market Research Analyst, on the Internet at http://online.onetcenter.org/link/summary/19-3021.00 (visited February 18, 2009).
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