Education:
57%
Bachelor's Degree
39%
Master's Degree
Market Research Analyst
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Job Outlook:
Much faster than average
Education:
Bachelor's degree
Work From Home
Salary
High:
$131,850.00
Average:
$78,880.00
Hourly
Average:
$37.92
What they do:
Research conditions in local, regional, national, or online markets. Gather information to determine potential sales of a product or service, or plan a marketing or advertising campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution. May employ search marketing tactics, analyze web metrics, and develop recommendations to increase search engine ranking and visibility to target markets.
On the job, you would:
- Prepare reports of findings, illustrating data graphically and translating complex findings into written text.
- Collect and analyze data on customer demographics, preferences, needs, and buying habits to identify potential markets and factors affecting product demand.
- Conduct research on consumer opinions and marketing strategies, collaborating with marketing professionals, statisticians, pollsters, and other professionals.
Important Qualities
Analytical skills. Market research analysts must evaluate large amounts of data and information related to market conditions.
Communication skills. Market research analysts must be able to clearly convey information when gathering material, interpreting data, and presenting results to clients.
Critical-thinking skills. To determine which marketing strategies would work best for a company, market research analysts must assess all available information.
Detail oriented. Market research analysts must pay attention to minutiae to evaluate data.
Personality
| A3 | Your Strengths | Importance |
Characteristics of this Career |
|---|---|---|---|
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99% | Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems. | |
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95% | Attention to Detail - Job requires being careful about detail and thorough in completing work tasks. | |
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91% | Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations. | |
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90% | Integrity - Job requires being honest and ethical. | |
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84% | Initiative - Job requires a willingness to take on responsibilities and challenges. | |
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82% | Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace. | |
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77% | Persistence - Job requires persistence in the face of obstacles. | |
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76% | Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done. | |
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76% | Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude. | |
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74% | Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks. | |
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72% | Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high-stress situations. | |
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71% | Innovation - Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems. |
| A3 | Your Strengths | Importance |
Strengths |
|---|---|---|---|
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95% | Investigative - Work involves studying and researching non-living objects, living organisms, disease or other forms of impairment, or human behavior. Investigative occupations are often associated with physical, life, medical, or social sciences, and can be found in the fields of humanities, mathematics/statistics, information technology, or health care service. | |
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67% | Enterprising - Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law. |
| A3 | Your Strengths | Importance |
Values of the Work Environment |
|---|---|---|---|
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61% | Achievement - Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement. |
Aptitude
| A3 | Your Strengths | Importance |
Abilities | Cognitive, Physical, Personality |
|---|---|---|---|
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78% | Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events). | |
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75% | Written Comprehension - The ability to read and understand information and ideas presented in writing. | |
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75% | Oral Expression - The ability to communicate information and ideas in speaking so others will understand. | |
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75% | Written Expression - The ability to communicate information and ideas in writing so others will understand. | |
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75% | Fluency of Ideas - The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity). | |
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75% | Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense. | |
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75% | Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences. | |
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72% | Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations). | |
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69% | Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways. | |
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69% | Speech Clarity - The ability to speak clearly so others can understand you. | |
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66% | Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem. | |
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66% | Near Vision - The ability to see details at close range (within a few feet of the observer). |
| A3 | Your Strengths | Importance |
Skills | Cognitive, Physical, Personality |
|---|---|---|---|
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66% | Reading Comprehension - Understanding written sentences and paragraphs in work-related documents. |
Job Details
Responsibilities
Analyze consumer trends.
Prepare research reports.
Conduct surveys in organizations.
Analyze market conditions or trends.
Gather organizational performance information.
Measure effectiveness of business strategies or practices.
Analyze consumer trends.
Discuss business strategies, practices, or policies with managers.
Gather organizational performance information.
Analyze market conditions or trends.
Monitor business indicators.
Analyze industry trends.
Establish business management methods.
Develop business or market strategies.
Supervise employees.
| A3 | Your Strengths | Importance |
Attributes & Percentage of Time Spent |
|---|---|---|---|
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100% | Electronic Mail - How often do you use electronic mail in this job? | |
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91% | Spend Time Sitting - How much does this job require sitting? | |
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90% | Telephone - How often do you have telephone conversations in this job? | |
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88% | Freedom to Make Decisions - How much decision making freedom, without supervision, does the job offer? | |
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86% | Importance of Being Exact or Accurate - How important is being very exact or highly accurate in performing this job? | |
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82% | Structured versus Unstructured Work - To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals? | |
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81% | Face-to-Face Discussions - How often do you have to have face-to-face discussions with individuals or teams in this job? | |
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81% | Contact With Others - How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it? | |
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76% | Time Pressure - How often does this job require the worker to meet strict deadlines? | |
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76% | Indoors, Environmentally Controlled - How often does this job require working indoors in environmentally controlled conditions? | |
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75% | Work With Work Group or Team - How important is it to work with others in a group or team in this job? | |
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72% | Letters and Memos - How often does the job require written letters and memos? | |
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65% | Impact of Decisions on Co-workers or Company Results - What results do your decisions usually have on other people or the image or reputation or financial resources of your employer? | |
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83% | Duration of Typical Work Week - Number of hours typically worked in one week. |
| A3 | Your Strengths | Importance |
Tasks & Values |
|---|---|---|---|
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97% | Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources. | |
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95% | Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts. | |
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93% | Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used. | |
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91% | Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data. | |
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90% | Working with Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information. | |
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89% | Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems. | |
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83% | Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work. | |
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81% | Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time. | |
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81% | Communicating with People Outside the Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail. | |
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78% | Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job. | |
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78% | Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions. | |
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78% | Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them. | |
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77% | Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person. | |
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75% | Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events. | |
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73% | Providing Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics. | |
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72% | Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form. | |
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67% | Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions. |
What Market Research Analysts Do
Market research analysts gather and analyze data on consumers and competitors.
Market research analysts study consumer preferences, business conditions, and other factors to assess potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.
Duties
Market research analysts typically do the following:
- Monitor and forecast marketing and sales trends
- Measure the effectiveness of marketing programs and strategies
- Devise and evaluate methods for collecting data, such as surveys, questionnaires, and opinion polls
- Gather data on consumers, competitors, and market conditions
- Analyze data using statistical software
- Convert data and findings into tables, graphs, and written reports
- Prepare reports and present results to clients and management
Market research analysts gather data and study other information to help a company promote its products or services. They gather data on consumer buying habits, demographics, needs, and preferences. They collect data and information using a variety of methods, such as focus groups, interviews, literature reviews, market analysis surveys, public opinion polls, and questionnaires.
Analysts help determine a company’s position in the marketplace by researching their competitors and studying their marketing methods, prices, and sales. Using this information, analysts may determine potential markets, product demand, and pricing. Their knowledge of the targeted consumer enables analysts to develop advertising brochures and commercials, product promotions, and sales plans.
Market research analysts evaluate data using statistical techniques and software. They must interpret what the data mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research.
Workers who design and conduct surveys that market research analysts use are survey researchers.
Work Environment
Market research analysts held about 868,600 jobs in 2022. The largest employers of market research analysts were as follows:
| Management, scientific, and technical consulting services | 11% |
| Finance and insurance | 9 |
| Information | 8 |
| Wholesale trade | 7 |
| Management of companies and enterprises | 7 |
Because most industries use market research, these analysts are employed throughout the economy.
Market research analysts work individually or as part of a team, collecting, analyzing, and presenting data. For example, some analysts work with graphic designers and artists to create charts, graphs, and infographics summarizing their research and findings.
Work Schedules
Most market research analysts work full time during regular business hours.
Getting Started
How to Become a Market Research Analyst
Market research analysts measure the effectiveness of marketing strategies.
Market research analysts typically need a bachelor’s degree. Some employers require or prefer that job candidates have a master’s degree. Strong research and analytical skills are essential.
Education
Market research analysts typically need a bachelor's degree in market research or a related business, communications, or social science field.
Courses in statistics, research methods, and marketing are important for prospective analysts. Courses in communications and social sciences, such as economics or consumer behavior, are also helpful.
Some employers of market research analysts require or prefer a master’s degree. Several schools offer graduate programs in marketing research, but analysts may choose to complete a bachelor’s degree in another field, such as statistics and marketing, and earn a master’s degree in business administration (MBA). A master’s degree is often required for leadership positions or positions that perform more technical research.
Licenses, Certifications, and Registrations
Analysts may pursue certification, which is voluntary, to demonstrate a level of professional competency. The Insights Association offers several certifications for market research analysts, including the IPC Principal and the IPC Masters. Candidates qualify based on industry experience and passing an exam.
Other Experience
Completing an internship while in school may be helpful. Prospective analysts also may gain experience by volunteering for an organization and helping with market research or related projects.
Employers may prefer to hire candidates who have experience in other positions that require collecting and analyzing data or writing reports to summarize research.
Job Outlook
Employment of market research analysts is projected to grow 13 percent from 2022 to 2032, much faster than the average for all occupations.
About 94,600 openings for market research analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Employment
Employment growth will be driven by an increasing use of data and market research across many industries. These workers will be needed to help understand the needs and wants of customers, measure the effectiveness of marketing and business strategies, and identify the factors affecting product demand.
The increase in the collection and analyses of big data—extremely large sets of information, such as social media comments or online product reviews—can provide insight on consumer behaviors and preferences. Businesses will need market research analysts to conduct analyses of the data and information.
Contacts for More Information
For more information about market research analysts, visit
For resources and information about qualitative research, visit
Qualitative Research Consultants Association (QRCA)
Similar Occupations
This table shows a list of occupations with job duties that are similar to those of market research analysts.
| Occupation | Job Duties | Entry-Level Education | Median Annual Pay, May 2022 | |
|---|---|---|---|---|
|
Advertising, Promotions, and Marketing Managers |
Advertising, promotions, and marketing managers plan programs to generate interest in products or services. |
Bachelor's degree | $138,730 |
|
Cost Estimators |
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Bachelor's degree | $71,200 |
|
Data Scientists |
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Bachelor's degree | $103,500 |
|
Economists |
Economists conduct research, prepare reports, and evaluate issues related to monetary and fiscal policy. They also may collect and analyze statistical data. |
Master's degree | $113,940 |
|
Management Analysts |
Management analysts recommend ways to improve an organization’s efficiency. |
Bachelor's degree | $95,290 |
|
Mathematicians and Statisticians |
Mathematicians and statisticians analyze data and apply computational techniques to solve problems. |
Master's degree | $99,960 |
|
Operations Research Analysts |
Operations research analysts use mathematics and logic to help solve complex issues. |
Bachelor's degree | $85,720 |
|
Public Relations Specialists |
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|
Survey Researchers |
Survey researchers design and conduct surveys and analyze data. |
Master's degree | $60,410 |