Market Research Analyst

Market research analysts are concerned with a product or service's potential sales. They study past statistics to predict future sales, gather data on competitors, and provide the necessary information for deciding how to promote, distribute, design and price products or services.

They devise methods and procedures, including telephone, personal or mail surveys, to assess consumer preferences.

Analysts may conduct opinion research to determine public attitudes on various issues.

SKILLS

Those considering careers as marketing research analysts must have strong analytical skills and attention to detail.
Patience and persistence are necessary, because marketing research analysts must spend long hours studying independently and problem-solving.
At the same time, market research analysts must work well with others, because they often oversee interviews for a wide variety of individuals. And they need to be able to present their findings in a clear, meaningful way.

EDUCATION

A bachelor’s degree with a major in economics or marketing may not be enough to obtain some marketing analyst positions, but it is excellent preparation for entry-level jobs as research assistants, administrative or management trainees, marketing interviewers or professional salespeople.
Candidates holding master’s degrees in economics have much better employment prospects than those without.
Because of how important quantitative skills are to economists and marketing researchers, courses in mathematics, statistics, econometrics, sampling theory, survey design and computer science are extremely helpful.

OUTLOOK

Demand for market research analysts should be strong due to an increasingly competitive economy. As companies seek to expand their markets and consumers become better informed, the need for marketing professionals will increase.
Opportunities for marketing research analysts with graduate degrees should be good in a wide range of employment settings as companies find it more profitable to contract out their marketing research services rather than support their own marketing departments.
Other organizations, including those in financial services, healthcare, advertising, manufacturing firms producing consumer goods and insurance, may offer job opportunities for marketing research analysts.

RELATED ARTICLES