What Does a Market Research Analyst Do?

Learn About the Salary, Required Skills, & More

The Balance / Theresa Chiechi 

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Market Research Analyst Salary

  • Education, Training & Certification
  • Skills & Competencies

Job Outlook

Work environment, work schedule, comparing similar jobs.

Market research analysts assess consumer preferences to help organizations decide how to shape, advertise, and market their products and services. Many market research analysts work for consulting firms that are hired on a contract basis. Others work directly for employers as part of a marketing team at consumer and product firms.

Approximately 738,000 people worked as market research analysts in the U.S. in 2020.

Market Research Analyst Duties & Responsibilities

Market analysts' responsibilities can depend somewhat on the employer, but they're largely similar:

  • Devise and evaluate methods for collecting data, such as surveys, focus groups, questionnaires, and opinion polls.
  • Analyze data using statistical software.
  • Interpret the data they've collected, ​organizing this information into statistical tables and reports.
  • Present their findings to executives and clients through charts, graphs, and other visual means to help them make ​better-informed decisions about product introductions, modifications, and marketing campaigns. 
  • Create a visual of industry trends and of competitors so organizations can predict how products and services will fare in the marketplace.
  • Measure effectiveness of marketing programs and strategies.

The industries that most frequently employ market research analysts include management, science, technical consulting services, computer systems design services, and advertising/public relations services.

Salaries can vary depending upon employer and industry. Those who work in the publishing industry tend to be the highest paid, but only marginally over those in company management.

  • Median Annual Salary: $65,810
  • Top 10% Annual Salary: More than $127,410
  • Bottom 10% Annual Salary: Less than $33,80

Education, Training & Certification

Advanced education and certification can help land a job in this occupation.

  • Education: Market research analysts typically have at least a bachelor's degree in marketing, market research, statistics, computer science, math, social sciences, business administration, communications, or a related field. An  MBA  or other advanced education isn't required, but it's usually desired for leadership positions.
  • Certification: Certifications are voluntary but strongly recommended because they help demonstrate professional competency.

The  Marketing Research Association  provides training and certification to those who qualify. 

Market Research Analyst Skills & Competencies

Some qualities and acquired skills will help you succeed at becoming a market research analyst.

  • Computer skills: Experience with Microsoft PowerPoint and Word, as well as statistical software platforms such as SPSS, WinCross, SAS, and Market Sight, can help with sorting data, as well as creating visual results and trends.
  • Math and analytical skills: These are essential for analyzing research data.
  • Confidence : You should be comfortable speaking in front of strangers and presenting results to internal team members and management.
  • Multitasking capability : You should be able to manage multiple projects with a quick turnaround.
  • Interpersonal skills: You'll need an ability to work well with all levels of management, internal staff, clients, and vendors.

According to the U.S. Bureau of Labor Statistics, opportunities for market research analysts are expected to grow by 18% from 2016 through 2029, which is much faster than the average for all occupations.

Trends toward using data to understand consumer preferences for products and services and to target marketing to specific consumer niches are chiefly responsible for this projected growth.

This is a diversified position that can require working alone or with a team at any given time. You'll be working with people with a wide variety of skills and talents.

This is a full-time job, normally during regular business hours. Some overtime can be required due to looming deadlines and business volume.

How to Get the Job

LEARN AND APPLY:

The Insights Association has job listings, a networking portal, and it offers a certification program that can add immeasurably to your resume. Also check the top job boards for available positions.

DRAFT THE PERFECT RESUME:

Your resume is your first introduction to a prospective employer, and a good one can't be overrated. Learn tips and techniques for making yours perfect.

INCLUDE RELEVANT SKILLS IN YOUR COVER LETTER:

If the job requests a  cover letter , use two to three short paragraphs to describe past projects where you successfully performed market research.

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Interview Guy

Market Research Analyst Job Description [Updated for 2024]

market research analyst job description salary and skills

In today’s data-driven business landscape, the demand for market research analysts is soaring.

As the business world evolves, the need for savvy professionals who can gather, analyze, and interpret market data becomes increasingly critical.

But what does being a market research analyst truly entail?

Whether you are:

  • A job seeker looking to unravel the complexities of this role,
  • A hiring manager seeking to draft the perfect candidate profile,
  • Or simply curious about the intricacies of market research analysis,

You’ve come to the right place.

Today, we present a customizable market research analyst job description template, designed for effortless posting on job boards or career sites.

Let’s dive right in.

Market Research Analyst Duties and Responsibilities

Market Research Analysts use a range of tools and methodologies to gather and interpret data on market conditions, customer behaviors, and competitor activity.

Their findings assist businesses in making informed decisions about market opportunities, product or service development, and marketing strategy.

Their primary duties and responsibilities include:

  • Conducting primary and secondary market research using various methods such as surveys, focus groups, and data analysis
  • Monitoring and forecasting market trends and consumer behavior
  • Identifying potential markets and testing them extensively
  • Collecting data on competitors and analyzing their prices, sales, and marketing methods
  • Preparing reports using statistical software and presenting findings to management
  • Devising and evaluating methods and procedures for collecting data, such as surveys, opinion polls, or questionnaires
  • Working closely with other departments, such as marketing and sales, to understand and address business needs
  • Advising businesses on market conditions, consumer behavior, and marketing strategies

Market Research Analyst Job Description Template

We are looking for a methodical Market Research Analyst to survey customer preferences and statistical data in order to support customers during their decision-making process regarding product designs, prices, and promotions.

The successful market researcher will be able to analyze autonomously qualitative data, trends, strategies and competition aiming at increasing competitiveness.

Responsibilities

  • Collect data on consumers, competitors and market place and consolidate information into actionable items, reports and presentations
  • Understand business objectives and design surveys to discover prospective customers’ preferences
  • Compile and analyze statistical data using modern and traditional methods to collect it
  • Perform valid and reliable market research SWOT analysis
  • Interpret data, formulate reports and make recommendations
  • Use online market research and catalogue findings to databases
  • Provide competitive analysis on various companies’ market offerings, identify market trends, pricing/business models, sales and methods of operation
  • Evaluate program methodology and key data to ensure that data on the releases are accurate and the angle of the release is correct

Qualifications

  • Proven market research analysis experience
  • Ability to interpret large amounts of data and to multi-task
  • Strong communication and presentation skills
  • Knowledge of statistical packages (SPSS, SAS or similar), databases and MS Office
  • Search engines, web analytics and business research tools acumen
  • Familiarity with CRM programs
  • Adequate knowledge of data collection methods (polls, focus groups, surveys etc)
  • Working knowledge of data warehousing, modelling and mining
  • Strong analytical and critical thinking
  • BS degree in Statistics, Marketing or related field
  • Health insurance
  • Dental insurance
  • Retirement plan
  • Paid time off
  • Professional development opportunities

Additional Information

  • Job Title: Market Research Analyst
  • Work Environment: Office setting with options for remote work. Some travel may be required for market research or client meetings.
  • Reporting Structure: Reports to the Market Research Manager or Marketing Director.
  • Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
  • Pay Range: $62,000 minimum to $105,000 maximum
  • Location: [City, State] (specify the location or indicate if remote)
  • Employment Type: Full-time
  • Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
  • Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

What Does a Market Research Analyst Do?

Market Research Analysts play a crucial role in helping organizations understand their markets, customers, competitors, and other variables that affect business performance.

They work for corporations, marketing agencies, consulting firms or they may be self-employed.

They collect data and conduct research to understand market trends, consumer attitudes, and competitive practices.

This involves designing surveys, conducting interviews or focus groups, analyzing data using statistical software, and preparing reports.

Their main goal is to help the company understand what products people want, who will buy them, and at what price.

They use this information to help organizations develop marketing strategies, define target audiences, set pricing structures, and identify opportunities for business growth.

Market Research Analysts also track and forecast marketing and sales trends, measure the effectiveness of marketing programs and strategies, and present their findings to the management using graphs and charts.

They work closely with other teams within the organization such as sales, product development, and senior leadership to provide insights that drive strategic decisions.

In addition to this, they are expected to keep up-to-date with the latest research methodologies, data analysis techniques, and marketing trends.

Market Research Analyst Qualifications and Skills

Market Research Analysts require a combination of technical skills, soft skills, and industry-specific knowledge to effectively analyze market conditions and guide business strategies, including:

  • Strong analytical skills to interpret complex data and convert it into understandable results.
  • Excellent communication skills to present findings and translate complex data into understandable documents and reports.
  • Detail-oriented abilities to ensure accurate data collection and interpretation, as well as thorough market analyses.
  • Proficiency in statistical software, databases, and design programs for data manipulation and visualization.
  • Critical thinking skills to identify trends, patterns, and insights in the data and make strategic recommendations based on findings.
  • Interpersonal skills to work effectively with different teams and stakeholders, understanding their informational needs and presenting relevant findings.
  • Ability to work under pressure and meet tight deadlines, demonstrating exceptional time management skills.
  • Knowledge of the industry and its latest trends, being able to anticipate changes in the market and their possible impacts.

Market Research Analyst Experience Requirements

Entry-level Market Research Analysts typically have 1 to 2 years of experience, gained through internships or part-time roles in market research, data analysis, or a related field.

They often have hands-on experience with data collection methods and statistical software.

Candidates with 2 to 5 years of experience usually have a solid understanding of market research methods, data analysis, and market trends.

They may also have experience with report writing and presenting findings to stakeholders.

Senior Market Research Analysts with over 5 years of experience often have a deep understanding of both qualitative and quantitative research methodologies.

They are likely to have developed leadership skills and may have managed small research projects or teams.

They may also have experience in strategic planning based on the insights gained from market research.

Additional relevant experience for all levels of Market Research Analysts can include a familiarity with Customer Relationship Management (CRM) systems, experience in a specific industry, or knowledge of a particular market.

It’s also essential that Market Research Analysts have experience with data visualization tools and are able to translate complex data into understandable and actionable insights.

This can often be gained through practical experience, further education, or certifications in market research or a related field.

Market Research Analyst Education and Training Requirements

To become a Market Research Analyst, a bachelor’s degree in marketing, business administration, statistics, or a related field is generally required.

The degree program should cover areas such as market research, statistics, business administration, and consumer behavior.

These subjects equip a candidate with the necessary knowledge and skills to analyze market trends, interpret data, and make informed business decisions.

Many employers may prefer candidates with a master’s degree in market research or a related field, especially for more advanced positions.

These programs dive deeper into the research methodologies, data analysis techniques, and marketing strategies required for the role.

In addition to formal education, market research analysts should have strong analytical skills, be adept at using statistical software, and have a good understanding of consumer behavior.

Certification is not always required but can be beneficial for career advancement.

The Marketing Research Association offers the Professional Researcher Certification (PRC) for those who meet education and experience requirements.

Lastly, continuous learning and staying updated with the latest market trends and research methodologies is critical in this field.

Many analysts attend workshops, seminars, and courses to update their skills and knowledge.

Market Research Analyst Salary Expectations

A Market Research Analyst earns an average salary of $63,790 (USD) per year.

However, the actual income may differ based on factors such as industry, years of experience, level of education, and the location of the job.

Market Research Analyst Job Description FAQs

What skills does a market research analyst need.

A Market Research Analyst should have strong analytical skills to understand large and complex data sets, critical-thinking skills to draw accurate conclusions from their findings, and detail-oriented nature to ensure the accuracy of their data.

They also need to have excellent communication skills to present their findings in a clear, comprehensible way to their team or clients.

Do Market Research Analysts need a degree?

Most Market Research Analyst positions require at least a bachelor’s degree in marketing, business, statistics, or a related field.

Some advanced roles may require a master’s degree.

Practical experience with statistical software, data visualization, and digital marketing tools can be beneficial.

What should you look for in a Market Research Analyst resume?

On a Market Research Analyst’s resume, look for a degree in a relevant field and experience with data analysis, as this is a key part of the role.

Familiarity with specific market research tools and software is also a plus.

Additionally, any demonstration of strong communication skills, whether through presentations, reports, or other means, can be a good indicator of their ability to convey their findings effectively.

What qualities make a good Market Research Analyst?

A good Market Research Analyst is naturally curious and enjoys digging into data to uncover trends and insights.

They’re detail-oriented and meticulous, as accuracy is paramount in their role.

They also possess strong problem-solving skills, using their findings to strategize effective marketing approaches.

Furthermore, good communication skills are essential, as they must present their findings and recommendations in a clear and compelling way.

Is it challenging to hire Market Research Analysts?

Finding a Market Research Analyst with the right blend of analytical prowess, industry knowledge, and communication skills can be challenging.

The field is highly competitive, and the best candidates often have a solid educational background coupled with practical experience.

Employers need to offer competitive salaries and opportunities for advancement to attract top talent.

And there you have it.

Today, we’ve demystified what it truly entails to be a market research analyst.

And guess what?

It’s not just about crunching numbers.

It’s about unearthing valuable insights that help shape business strategies, one data point at a time.

With our ready-to-use market research analyst job description template and real-world examples, you’re all set to make a difference.

But why stop there?

Dive deeper with our job description generator . It’s your next step to creating razor-sharp job listings or polishing your resume to brilliance.

Every data point is a part of the larger narrative.

Let’s shape that future. Together.

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market research analyst job description salary and skills

The Editorial Team at InterviewGuy.com is composed of certified interview coaches, seasoned HR professionals, and industry insiders. With decades of collective expertise and access to an unparalleled database of interview questions, we are dedicated to empowering job seekers. Our content meets real-time industry demands, ensuring readers receive timely, accurate, and actionable advice. We value our readers' insights and encourage feedback, corrections, and questions to maintain the highest level of accuracy and relevance.

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Market Research Analyst

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.

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.

Market research analysts held about 792,500 jobs in 2021. The largest employers of market research analysts were as follows:

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.

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.

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. 

Market research analysts typically have an interest in the Thinking, Persuading and Organizing interest areas, according to the Holland Code framework. The Thinking interest area indicates a focus on researching, investigating, and increasing the understanding of natural laws. The Persuading interest area indicates a focus on influencing, motivating, and selling to other people. The Organizing interest area indicates a focus on working with information and processes to keep things arranged in orderly systems.

If you are not sure whether you have a Thinking or Persuading or Organizing interest which might fit with a career as a market research analyst, you can take a career test to measure your interests.

Market research analysts should also possess the following specific qualities:

Analytical skills. Market research analysts must be able to understand large amounts of data and information. 

Communication skills. Market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients. 

Critical-thinking skills. Market research analysts must assess all available information to determine what marketing strategy would work best for a company.

Detail oriented. Market research analysts must be detail oriented because they often do precise data analysis.

The median annual wage for market research analysts was $63,920 in May 2021. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $37,570, and the highest 10 percent earned more than $128,320.

In May 2021, the median annual wages for market research analysts in the top industries in which they worked were as follows:

Employment of market research analysts is projected to grow 19 percent from 2021 to 2031, much faster than the average for all occupations.

About 99,800 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 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.

For more information about market research analysts, visit

Insights Association

For resources and information about qualitative research, visit

Qualitative Research Consultants Association  (QRCA)

Where does this information come from?

The career information above is taken from the Bureau of Labor Statistics Occupational Outlook Handbook . This excellent resource for occupational data is published by the U.S. Department of Labor every two years. Truity periodically updates our site with information from the BLS database.

I would like to cite this page for a report. Who is the author?

There is no published author for this page. Please use citation guidelines for webpages without an author available. 

I think I have found an error or inaccurate information on this page. Who should I contact?

This information is taken directly from the Occupational Outlook Handbook published by the US Bureau of Labor Statistics. Truity does not editorialize the information, including changing information that our readers believe is inaccurate, because we consider the BLS to be the authority on occupational information. However, if you would like to correct a typo or other technical error, you can reach us at [email protected] .

I am not sure if this career is right for me. How can I decide?

There are many excellent tools available that will allow you to measure your interests, profile your personality, and match these traits with appropriate careers. On this site, you can take the Career Personality Profiler assessment, the Holland Code assessment, or the Photo Career Quiz .

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Market Research Analyst: Job Description & Skills in 2024

market research analyst job description salary and skills

As a market research analyst, you play a crucial role in helping companies understand their audience and make better-informed business decisions. In this article, we will explore the job description and skills required to excel in this field.

Definition of Market Research Analyst

A market research analyst is responsible for collecting and analyzing data on consumer behavior, market trends, and competitors to help their organization make informed decisions. They use various research methods, including surveys, focus groups, and statistical analysis, to gather insights that can be used to improve products and services, develop marketing strategies, and identify opportunities for growth.

Importance of Market Research Analyst

Market research analysts are essential to helping companies stay competitive in today’s constantly evolving business landscape. By providing valuable insights into consumer trends and preferences, they help businesses make more informed decisions about product development, marketing, and sales.

In addition to helping businesses stay ahead of the competition, market research analysts also play a critical role in identifying emerging trends and opportunities. By keeping a pulse on the latest industry developments and consumer preferences, they can help their organization stay agile and adapt to changing market conditions.

Overview of the Article

Throughout the article, we will cover the following topics:

  • The role of a market research analyst, including key responsibilities and requirements
  • Essential skills and experience for success in this field
  • Job outlook and earning potential for market research analysts
  • Tips for breaking into the field and advancing your career
  • Case studies and real-world examples of successful market research strategies

By the end of this article, readers will have a comprehensive understanding of what it takes to become a top-performing market research analyst and how to excel in this exciting and fast-paced field.

market research analyst job description salary and skills

Market Research Analyst Job Description

Market research analysts play a crucial role in the success of a business by providing insights into customer needs, preferences, and habits.

A. Responsibilities

Market research analysts are responsible for conducting research in order to help businesses make informed decisions. They analyze data and information, evaluate findings, and communicate with clients, managers, and other stakeholders.

B. Gather Data and Information

One of the key responsibilities of a market research analyst is gathering data and information. This might involve conducting surveys, focus groups, or other types of research to collect information about customer preferences, purchasing habits, and other relevant data. They may also collect data from internal sources, such as sales data, customer databases, and website analytics.

C. Analyze Data and Information

Once data and information have been gathered, market research analysts must then analyze it. This may involve using statistical software to identify patterns and trends, conducting market research to identify competitors and market trends, and analyzing customer feedback to determine customer satisfaction and identify areas for improvement.

D. Evaluate and Present Findings

After analyzing data and information, market research analysts must then evaluate the findings. This involves drawing conclusions based on the data and identifying opportunities for growth and improvement. They may then create presentations, reports, and other materials to communicate their findings to clients, managers, and other stakeholders.

E. Communicate with Clients, Managers, and Stakeholders

Communication is a key part of a market research analyst’s job. They must be able to communicate complex data and findings in a way that is clear and understandable to non-technical stakeholders. This may involve creating reports, presentations, and other materials that can be easily understood by people outside of the research field.

F. Maintain Research Databases and Technology

Market research analysts must also ensure that research databases and technology are maintained and updated. This may involve managing databases of customer information, tracking trends in the industry, and staying up-to-date on new research methodologies and technologies. They must also ensure that all research is conducted ethically and in compliance with relevant laws and regulations.

Market research analysts are critical to the success of businesses across all industries. Their responsibilities include gathering and analyzing data, evaluating findings, communicating with clients and stakeholders, and maintaining research databases and technology. With their expertise, market research analysts help businesses make informed decisions and stay ahead of the competition.

Qualifications and Skills for Market Research Analyst

Market research analysts are responsible for deciphering data and insights to help organizations make informed business decisions. This involves a diverse skill set and a strong educational background. To be successful in this field, there are several vital qualifications and skills that market research analysts should have.

A. Education and Certification The first qualification for a market research analyst is to hold at least a bachelor’s degree in a relevant field such as marketing, statistics, or business administration. Advanced degrees, such as an MBA or a master’s in marketing research, offer a competitive advantage in this field. Additionally, certification programs, such as the Professional Researcher Certification (PRC) from the Insights Association, can enhance a candidate’s credentials.

B. Technical Skills Market research analysts should be proficient in data analysis and have a strong understanding of the latest technologies and data collection methods. This includes expertise in data analytics software and statistical analysis tools, as well as experience with survey and research methodologies.

C. Analytical Skills Market research analysts should possess strong analytical skills to help them interpret data and turn it into actionable insights. These skills include critical thinking, problem-solving, and the ability to identify patterns and trends.

market research analyst job description salary and skills

D. Communication Skills Market research analysts should be effective communicators who can present complex data and insights in an easy-to-understand format. This includes not only verbal communication but also written communication through reports, presentations, and dashboards.

E. Organizational Skills Market research analysts need to possess strong organizational skills to manage multiple projects and deadlines simultaneously. This includes the ability to prioritize tasks, manage resources, and maintain accurate records.

F. Interpersonal Skills Market research analysts should have strong interpersonal skills to work effectively with team members and clients. This includes the ability to build rapport, active listening, and empathy.

G. Adaptability and Flexibility Market research analysts should possess excellent adaptability and flexibility skills to ensure they can respond to rapidly changing business needs. This includes the ability to pivot direction, multitask, and handle unexpected challenges with ease.

Market research analysts must have a unique blend of qualifications and skills to succeed in this industry. Having a strong background in education, technical skills, analytical skills, communication skills, organizational skills, interpersonal skills, and adaptability and flexibility are essential. As the market research industry continues to evolve, these skills will only become more critical for success.

Career Prospects and Salary for Market Research Analysts

Market research analysts are in high demand, as organizations across various industries rely on their insights to make informed business decisions. Here are some things to consider when it comes to career growth opportunities, job market trends and outlook, salary and compensation, and geographic and industry variation in salaries for market research analysts.

A. Career Growth Opportunities

Market research analysts typically begin their careers with a bachelor’s degree in marketing or a related field, though some employers may prefer candidates with a master’s degree. As they gain experience, market research analysts may have the opportunity to move into leadership roles, such as managing a team of analysts or becoming a director of market research.

In addition, market research analysts can expand their skills by developing expertise in specific areas, such as consumer behavior or market segmentation. They can also stay up-to-date with emerging trends and technologies by attending industry conferences or completing training programs.

B. Job Market Trends and Outlook

The job market for market research analysts is expected to grow at a fast pace, with the U.S. Bureau of Labor Statistics projecting a 18% increase in employment between 2019 and 2029. This growth is largely due to the increasing importance of data-driven decision making in today’s business landscape.

As more organizations embrace digital technologies, market research analysts with experience in areas such as social media analytics and digital marketing research may be particularly in demand.

C. Salary and Compensation

According to the U.S. Bureau of Labor Statistics, the median annual wage for market research analysts was $63,790 as of May 2019. However, salaries can vary widely based on factors such as experience level, industry, and geographic location.

Market research analysts working in the management, scientific, and technical consulting services industry tend to earn higher salaries, with a median annual wage of $85,730. Those working in the wholesale trade industry tend to earn lower salaries, with a median annual wage of $60,140.

D. Geographic and Industry Variation in Salaries

Geographic location can also impact salaries for market research analysts. For example, those working in metropolitan areas such as San Francisco, New York, and Boston tend to earn higher salaries due to the higher cost of living in these locations.

In terms of industry, market research analysts working in the computer systems design and related services industry tend to earn the highest salaries, with a median annual wage of $92,520 as of May 2019. Those working in the educational services industry tend to earn lower salaries, with a median annual wage of $51,860.

Market research analysts can expect strong job growth and competitive salaries. By continuing to develop their skills and expertise, they can position themselves for long-term success in this exciting field.

Types of Market Research Analyst

As a market research analyst, you can specialize in different areas of research depending on your interests and expertise. Below are some of the most common types of market research analysts:

A. Industry-Specific Market Research Analyst

Industry-specific market research analysts specialize in gathering information and insights about a particular industry or market segment. They study trends, consumer behavior, competition, and other factors that affect the industry they are focused on.

For instance, an industry-specific market research analyst may specialize in the healthcare industry, researching the latest developments in medical technology, changes in healthcare policies, and consumer behavior in healthcare settings.

B. Geographical Market Research Analyst

Geographical market research analysts focus on gathering data about specific regions or locations. They may study demographics, consumer behavior, or economic trends in a particular region.

For example, a geographical market research analyst working for a real estate company may gather data about property values, rental demand, and consumer preferences in a specific city or neighborhood.

C. Demographic Market Research Analyst

Demographic market research analysts specialize in understanding consumer behavior and preferences based on demographics such as age, gender, income, and education. They study consumer trends and buying behavior within specific demographics and use this data to improve marketing and product development strategies.

For instance, a demographic market research analyst may gather data on the spending habits and media consumption of millennials to help a company develop more targeted marketing campaigns for this demographic.

D. Product-Specific Market Research Analyst

A product-specific market research analyst specializes in understanding consumer behavior and preferences specific to a particular product or service. They gather data on consumer preferences, usage patterns, and satisfaction levels to help companies develop and improve their products and services.

For instance, a product-specific market research analyst may gather data on consumer preferences for mobile phone features to help a technology company design a new device that meets customer needs and preferences.

Market research analysts can specialize in different areas of research depending on their interests and expertise. Whether you prefer to analyze data about industries, demographics, products, or regions, there are exciting opportunities for you to apply your skills as a market research analyst.

Types of Market Research Techniques

Market research is a crucial aspect of any organization, allowing them to identify their target market and gather information about their customers’ needs and preferences. There are various techniques of market research, including:

A. Qualitative Research

Qualitative research focuses on gathering subjective data through direct communication with customers, including interviews, focus groups, and surveys. This technique helps to collect in-depth information about customers’ experiences, opinions, and attitudes, enabling businesses to gain a better understanding of consumer behavior.

B. Quantitative Research

Quantitative research, on the other hand, focuses on the collection of numerical data through surveys, polls, and questionnaires. This technique helps businesses to gather specific information about customer preferences and behaviors, enabling them to determine the most effective marketing strategies.

C. Primary Research

Primary research refers to the gathering of data directly from the source, typically through interviews, surveys, or observations. This form of research helps businesses to gain a comprehensive understanding of their target market and customer needs.

D. Secondary Research

Secondary research involves analyzing data that has already been collected by others, including industry reports, government publications, and academic research. This technique is often used to supplement primary research and provides a broader perspective on market trends and customer behavior.

Market research is an essential tool for any organization looking to understand their target audience and gain a competitive advantage. By utilizing different techniques such as qualitative and quantitative research, as well as primary and secondary research, businesses can gain valuable insights into customer behavior and preferences, helping them to make informed decisions about their marketing strategies. ** Commonly Used Market Research Tools

Market research analysts rely on a variety of tools to help them gather, manage, and analyze data related to consumer behavior, market trends, and product performance. Here are some of the most commonly used tools in the field:

A. Survey Tools

One of the primary methods that market researchers use to collect information is through surveys. Survey tools help analysts create customizable surveys that can be distributed to targeted groups of people. Some of the most commonly used survey tools include SurveyMonkey, Qualtrics, and Google Forms. These tools allow analysts to design surveys with a wide range of questions types, including multiple-choice, ranking, and open-ended questions. Many survey tools also offer features like respondent tracking, data analysis, and reporting.

B. Data Analysis Tools

Once market researchers have collected data, they need to analyze it to identify patterns, trends, and insights that can inform business decisions. Data analysis tools, like SAS, Excel, and R, help researchers manage, clean, and analyze data sets. These tools allow analysts to create charts, graphs, and other visualizations that can help them to better understand patterns in the data. They can also run statistical analyses to identify correlations between variables and test hypotheses.

C. Project Management Tools

Market research projects can involve multiple stakeholders and moving parts, which can make them difficult to manage. Project management tools, like Asana, Trello, and Basecamp, help researchers keep track of project timelines, budgets, and deliverables. These tools allow users to assign tasks and deadlines, communicate with team members, and track progress in real-time. Project management tools can also help researchers to better manage resources, identify areas of inefficiency, and improve collaboration across teams.

D. Reporting Tools

Once market researchers have collected and analyzed their data, they need to present their findings to stakeholders in a clear and compelling way. Reporting tools, like Tableau, QlikView, and Microsoft Power BI, help researchers create customizable reports and dashboards that can visualize data in meaningful ways. These tools allow users to create interactive charts, graphs, and maps that can reveal insights at a glance. They can also help researchers to identify trends over time and make comparisons between different data sets.

Market research analysts rely on a variety of tools to help them gather, analyze, and present data related to consumer behavior, market trends, and product performance. By leveraging these tools, market researchers can gain deeper insights into consumer preferences and behaviors, enabling businesses to make more informed decisions about marketing strategies, product development, and other key initiatives.

Important Key Performance Indicators (KPIs) for Market Research Analysts

As a market research analyst, it is important to know the key performance indicators (KPIs) that will help measure and analyze the success of your research strategies. Understanding KPIs is crucial for identifying areas of improvement, identifying opportunities for growth, and ensuring that your research is effectively contributing to the overall success of your organization.

Here are six key performance indicators that you should always keep in mind:

A. Customer Satisfaction

Customer satisfaction is a critical KPI for market research analysts. It measures how satisfied customers are with the products or services offered by a company. Customer satisfaction can be measured through surveys or feedback forms, and can be used to assess overall performance, identify areas for improvement, and help in developing strategies to improve customer satisfaction.

B. Net Promoter Score (NPS)

Net Promoter Score (NPS) is another important KPI for market research analysts. NPS is a score that measures how likely customers are to refer a company to a friend or colleague. This KPI is crucial because customers who are highly likely to recommend a company are more likely to be loyal and make repeat purchases.

C. Market Share

Market share is another vital KPI for market research analysts. It is the percentage of the total market that a company has captured. This KPI is critical because it helps you understand how your company is performing in comparison to competitors. It can also help you identify new areas for growth and opportunities for expansion.

D. Customer Retention

Customer retention is a KPI that measures the percentage of customers that continue to do business with a company over time. This KPI is essential because retaining customers is much easier and more cost-effective than acquiring new ones. It is important to keep this KPI in mind when developing strategies to improve customer loyalty and prevent churn.

E. Sales Growth

Sales growth is a measurable KPI that is essential for assessing the performance of a company. It measures the increase or decrease in revenue over time. A market research analyst must keep this KPI in mind when developing pricing and promotional strategies, identifying new markets, and optimizing product offerings.

F. Brand Awareness

Brand awareness is one of the most important KPIs for market research analysts. It measures how well a company is recognized and perceived by its customers. This KPI can be assessed through brand surveys or qualitative research studies. Measuring and improving brand awareness is essential for building a loyal customer base and improving sales growth.

Understanding and tracking these six key performance indicators will help market research analysts to assess the success of their research strategies, identify areas for improvement, and contribute to the overall success of their organization.

Challenges Faced by Market Research Analysts

Market research analysts play a critical role in businesses by gathering and analyzing data to help companies make informed decisions. However, this job comes with its own set of challenges. Here are the top five challenges faced by market research analysts:

A. Limited Time and Resources

Market research analysts are often tasked with conducting research on a tight deadline and limited budget. This can be challenging because it requires them to work efficiently and effectively to deliver accurate results within a constrained time frame. To tackle this challenge, analysts must prioritize their tasks, identify the most important data points, and use technology to automate and streamline certain processes.

B. Handling and Managing Big Data

With the rise of big data, handling and managing large amounts of data has become a critical challenge for market research analysts. It can be difficult to know where to begin when sorting through such vast amounts of information. Analysts must develop a strong understanding of data management and be able to analyze data from various sources to provide meaningful recommendations to their clients.

C. Staying Up-To-Date with Technological Advancements

Technology is rapidly advancing, and market research analysts must stay up-to-date with the latest tools and techniques to effectively perform their job. With the increase in social media and mobile devices, it is essential to understand new data sources and their potential value in informing business decisions. Additionally, analysts must have a strong understanding of data visualization and other tools to effectively communicate findings to clients.

D. Increased Competition

As the demand for skilled market research analysts continues to grow, so does the competition for jobs. This can be challenging for analysts who are just starting out in the industry, as more experienced candidates may have an advantage. Staying up-to-date with the latest trends and honing specialized skills can make an analyst stand out in a crowded job market.

E. Evolving Market Trends and Consumer Behaviour

Market research is consistently impacted by evolving trends and changing consumer behaviours, making it important for analysts to stay up-to-date on the latest shifts in the market. Traditional market research methods may not always suffice, and new data sources may become necessary to incorporate into analysis. Analysts must be flexible and adaptable to changing circumstances to ensure that their research is current and relevant.

Market research analyst faces challenges such as limited time and resources, handling and managing big data, staying up-to-date with technological advancements, increased competition, and evolving market trends and consumer behavior. Addressing these challenges requires market research analysts to stay informed, adaptable, and creative in their work.

Importance of Market Research Analyst for Various Industries

Market research analysts play a crucial role in various industries by helping businesses make informed decisions about their products, customers, and competitors. They collect and analyze data to identify trends, market opportunities, and customer preferences, which businesses can use to improve their products or services and stay ahead of the competition. In this section, we will discuss the importance of market research analysts for various industries, including:

A. Retail Industry

The retail industry is one of the largest and most competitive industries in the world. Market research analysts help retailers understand consumer behavior, preferences, and purchasing patterns, which can help them make decisions about product design, pricing, and promotions. They use various data collection methods, such as surveys, focus groups, and sales data analysis, to gather valuable insights about their target audience. In addition, market research analysts can help retailers identify new market opportunities and stay ahead of industry trends.

B. Healthcare Industry

The healthcare industry is another sector that benefits greatly from market research analysis. Market research analysts help healthcare providers understand patient needs, preferences, and satisfaction levels, which can help them improve patient care and services. They also help healthcare providers identify market opportunities and determine the viability of new treatments or medical devices. Market research analysts in the healthcare industry help insurance companies determine pricing and coverage policies based on economic and demographic factors.

C. Technology Industry

The fast-paced and rapidly evolving technology industry requires constant innovation, and market research analysts play a critical role in this process. They help technology companies understand customer needs and preferences to develop products that meet those needs. They also help companies identify emerging trends and new markets to expand into, which can lead to increased revenue and market share. Market research analysts can also help technology companies develop marketing and advertising campaigns that resonate with their target audience.

D. Manufacturing Industry

In the manufacturing industry, market research analysts help companies gather information about their products, competitors, and target markets. They use data analysis to identify consumer preferences and trends, as well as to gauge demand for specific products. Market research analysts can also help manufacturing companies identify new markets and sales opportunities, as well as assess the viability of new products in development.

E. Food & Beverage Industry

Market research analysts in the food and beverage industry help companies understand consumer preferences and develop products that meet those preferences. They use surveys, focus groups, and other methods to gather data about consumer behavior regarding food and beverage products, as well as to identify emerging trends in the industry. Market research can also help companies identify new markets, such as niche diets or eating habits, and develop products that cater to those markets.

Market research analysts are essential in various industries as they provide valuable insights that businesses can use to improve their products or services, stay ahead of the competition, and identify new market opportunities.

Example Case Studies

As a market research analyst, one of the most important skills you need to have is the ability to analyze data and generate insights from it. In this case study, we’ll take a look at how Jane, a market research analyst working for a consumer goods company, used her skills to help the company make better business decisions.

The company was considering launching a new line of organic snacks targeted at health-conscious consumers. The marketing team had already conducted some preliminary research, such as focus groups and surveys, but they needed more in-depth insights to make informed decisions about the product lineup and pricing strategy.

Jane’s first step was to conduct a comprehensive market analysis. She looked at consumer trends, competitor offerings, and market size and growth potential. This helped the team understand the broader industry landscape and potential demand for the product.

Next, Jane analyzed the data collected from the focus groups and surveys. She used statistical methods to identify patterns and trends in the responses, such as which features consumers valued most in organic snacks and which price points they were willing to pay. She also looked at demographic data to better understand the target consumer segment.

Based on her analysis, Jane recommended that the company launch three different varieties of organic snacks, each with a slightly different flavor profile and price point. She also suggested that the company create a loyalty program to incentivize repeat purchases and capture data about customer preferences.

The marketing team implemented Jane’s recommendations and launched the new line of snacks. Sales exceeded the team’s projections, and the company was able to capture more market share in the health food sector. Jane’s insights helped the company make informed decisions that led to a successful product launch.

This case study shows the importance of market research analysis skills in driving business success. As a market research analyst, you need to be able to gather and interpret data accurately to generate insights that are actionable and drive impact. Whether you’re working for a consumer goods company or a technology startup, these skills are essential for helping your organization make smart, data-driven decisions.

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How to Become a Market Research Analyst

By Alyciah Beavers

Published: March 19, 2024

In today’s ever-evolving business landscape, organizations strive to make informed decisions that will propel them toward success, and this is where a market research analyst role is crucial. The career suits anyone who wants to become a master of data, a sleuth of consumer behavior, and a guardian of market insights. Read on to understand what is a market research analyst and if this career might be the right choice for you.

Career Summary

Market research analyst salary.

market research analyst job description salary and skills

Here is a general trajectory of market research analyst salary, according to Glassdoor.com :

  • Entry Salary (US$56k)
  • Median Salary (US$71k)
  • Executive Salary (US$100k)

To put this into perspective, the annual average wage for all occupations in the US is $61,900 . This means that, based on your level, you can make some excellent cash as a market research analyst.

Market Research Analyst Job Description

So, what does a market research analyst do? A market research analyst collects, analyzes, and interprets data to provide insights and recommendations on market trends and consumer behavior to a business . Their main objective is to help businesses make informed decisions regarding their products, services, and marketing strategies. Additionally, a market research analyst conducts market analysis and assists companies in understanding the products people want and how to price them.

Market Research Analyst Career Progression

  • Entry-Level Analyst: It is the starting point for most market research analysts. At this stage, your roles involve assisting more senior analysts in conducting research, collecting data, and analyzing market trends. Your role also entails preparing reports and presentations.
  • Research Analyst: You have more independence and take on greater responsibility for designing research methodologies, managing data collection, and conducting analysis.
  • Senior Analyst: You have a deeper understanding of market research methodologies, advanced analytical techniques, and industry-specific knowledge.
  • Supervisor: Here, your role involves overseeing multiple research projects, managing a team of analysts, and contributing to high-level decision-making. You are responsible for resource allocation, project planning, and client management.
  • Head of Market Research: You are responsible for shaping the overall research strategy, guiding the research team, and collaborating with senior executives to align research efforts with business goals. You are also involved in budgeting, business development, and fostering relationships with clients and stakeholders.

Market Research Analyst Career Progression

  • It simulates intellectual intelligence, where you develop your critical and problem-solving skills.
  • It gives you the proper industry exposure since you work with clients from diverse industries.
  • The career offers continuous learning opportunities since market research is a rapidly evolving field.
  • As a marketing analyst, you can comfortably tackle complex business problems.
  • It offers a collaborative environment where you work as a team with other people, such as marketing professionals, statisticians, data scientists, and business executives.
  • Some tasks are monotonous as they involve collecting and analyzing large amounts of data, which can sometimes be tedious.
  • Market research often operates on tight deadlines, requiring analysts to work under pressure to meet project timelines.
  • At times there is limited creativity, whereby some analysts may feel constrained when developing innovative solutions or exploring unconventional approaches.
  • The industry is competitive, so analysts need to stay updated constantly on the trends and consumer behaviors.
  • There is a lot of data overload, which is overwhelming and challenging to navigate.

Useful Skills to Have As a Market Research Analyst

As a market research analyst, several useful skills can enhance your abilities and contribute to your success in the field, including:

  • Research and Analytical Skills
  • Data Interpretation and Statistical Analysis
  • Critical Thinking Skills
  • Strong Communication Skills
  • Problem-Solving Abilities
  • Technological Proficiency

Popular Market Research Analyst Specialties

Market research analysts specialize in various areas depending on the industry and the specific needs of their clients or employers.

There are some popular specialties within the field of market research analysis:

  • Consumer Behavior
  • Market Segmentation
  • Competitive Analysis
  • Brand Research
  • Product Development
  • Market Trend Analysis

How to become a Market Research Analyst

Market Research Analyst 5 Steps to Career

The right way to become a market research analyst is through education, relevant work experience, and specific skills. While the exact path can vary depending on individual circumstances, here are some common steps to help you pursue a career in market research analysis.

Obtain a Degree in a Relevant Field

Do i need a degree to become a market research analyst.

While having a degree is not always a strict requirement to become a market research analyst, it can significantly enhance your prospects and competitiveness in the job market. Many employers prefer candidates with a bachelor’s degree, particularly in fields such as market research, business administration, statistics, economics, or social sciences .

Why Is It Important to Get A Degree In Market Research or a Related Field?

While it’s not always a strict requirement, obtaining a degree offers numerous advantages. A relevant degree equips you with the foundational knowledge and analytical skills necessary for market research analysis, as well as the skills to analyze complex data sets, use statistical tools and software, and derive meaningful conclusions.

A degree program can provide a comprehensive understanding of research methodologies, statistical analysis, consumer behavior, data interpretation, and marketing principles. These skills are essential for conducting adequate market research and making informed decisions based on the collected data.

Furthermore, some employers may specifically request a degree or prefer candidates with higher qualifications for specific positions or in highly competitive job markets.

Additionally, having a degree can serve as evidence of your commitment, discipline, and ability to acquire and apply knowledge, which can be valuable to potential employers.

How Long Does It Take To Get A Degree?

The duration of a degree program in market research analysis can vary depending on several factors, including the degree level and the educational institution’s structure:

  • Associate’s Degree: An associate’s degree generally takes around two years to complete . This program provides a foundational understanding of market research principles and techniques.
  • Bachelor’s Degree: A bachelor’s degree typically requires four years of full-time study . Students delve deeper into market research methodologies, data analysis, and related business courses during this program.
  • Master’s Degree: Pursuing a master’s degree in market research takes two years beyond the bachelor’s degree . This program focuses on advanced research techniques, data analysis, consumer behavior, and marketing strategy.
  • Doctoral Degree: A Ph.D. or doctoral degree in market research analysis can take an additional four to six years of study beyond the master’s degree . The programs emphasize research, theory development, and advanced methodologies. These degrees are more suited for individuals interested in academic or research-oriented careers.

How Much Does It Cost to Study Market Research Analysis at University?

The cost of studying market research analysis at a university can vary widely depending on factors such as the country, the specific university, the level of study, undergraduate or postgraduate. Additionally, tuition fees can change over time, so it’s essential to check with the specific university or college for the most accurate and up-to-date information. Here is a breakdown as of 2022:

  • Undergraduate marketing research program tuition for an in-state student is US$12,020, while an out-of-state student pays US$28,345.
  • A graduate market research in-state student pays US$13,864, while an out-of-state student pays US$24,560.

Can I become a Market Research Analyst Through Online Education?

Yes, online education makes it possible to become a market research analyst . The web offers numerous resources and programs in multiple fields, including market research, with flexible learning hours.

Look for accredited online courses, certificate programs , or degree programs in market research, marketing, business, statistics, or related fields. Ensure that the program you choose is from a reputable institution.

Gain Practical Experience

Practical experience complements theoretical knowledge and helps you demonstrate your skills and abilities to potential employers. Seeking opportunities to apply your knowledge and skills in realistic settings and continuously striving to expand your expertise through hands-on experience in market research is the only way to go. Some ways involve volunteering and interning in different corporations to gain hands-on experience.

What are Internship Opportunities for A Market Research Analyst?

As a market research analyst, several internship opportunities are available to gain practical experience and develop your skills.

Here are some potential avenues to explore:

  • Market Research Firms: Many market research companies offer internship programs tailored explicitly for aspiring analysts. These firms research for various clients and industries, exposing interns to multiple projects and methodologies.
  • Corporate Internships: Numerous companies, especially larger ones, have in-house market research departments. These organizations often offer internships to support their research activities, allowing you to work directly with their marketing teams and gain industry-specific insights.
  • Advertising and Marketing Agencies: Advertising and marketing agencies frequently require market research to inform their strategies and campaigns. Interning with such agencies can expose you to diverse projects and clients, enhancing your understanding of how research drives marketing decisions.
  • Technology Companies: Tech companies, particularly those involved in data analytics and consumer insights, often offer internships for market research analysts. These opportunities can provide exposure to innovative tools, techniques, and datasets, allowing you to develop skills in the intersection of technology and market research.
  • Consulting Firms: Consulting firms may have market research divisions or projects to which interns can contribute. These firms work with clients to provide strategic advice; market research is critical to their decision-making processes.
  • Government Agencies: Government agencies often conduct market research to inform policy decisions, public campaigns, and program evaluations. Interning with a government agency can provide insights into the unique challenges and considerations of conducting research within the public sector.

To find internship opportunities , consider exploring online job boards, company websites, and professional networking platforms and contacting your university’s career services department. Networking with professionals in the field, attending industry events, and joining relevant market research associations or groups can also help you discover internship opportunities.

What Skills Will I Learn As A Market Research Analyst?

As a market research analyst, you will develop various skills to effectively gather, analyze, and interpret data to support business decision-making.

Here are some essential skills you can expect to learn and enhance in this role:

  • Research Design: You will learn how to design research studies and formulate appropriate research questions and objectives.
  • Data Collection: You will acquire skills in collecting data through surveys, interviews, focus groups, and observational studies. This includes developing questionnaires, conducting interviews, and managing data collection processes.
  • Data Analysis: You will gain proficiency in analyzing data using statistical techniques, data visualization tools, and software packages like Excel, SPSS , or R . This involves interpreting quantitative and qualitative data, identifying patterns and trends, and drawing meaningful insights.
  • Market Analysis: You will learn to assess market trends, customer behavior, and competitive landscapes. This includes conducting competitor analyses, market segmentation, and identifying target markets.
  • Report Writing: You will develop strong written communication skills to effectively communicate research findings and insights through reports, presentations, and visualizations. This involves summarizing complex data into clear and actionable recommendations.
  • Critical Thinking: You will enhance your ability to think critically and analytically, evaluate research methodologies, assess data quality, and identify potential biases or limitations in research findings.
  • Problem-Solving: As a market research analyst, you will learn to identify business problems, formulate research objectives, and develop strategic solutions based on data-driven insights.
  • Collaboration: You will develop teamwork and collaboration skills, as market research often involves working with cross-functional teams, stakeholders, and clients to understand their needs and deliver actionable results.
  • Technology and Tools: You will become proficient in utilizing market research tools, software, and technologies to enhance data collection, analysis, and reporting. This may include data analytics platforms, survey software, CRM systems , and visualization tools.
  • Industry Knowledge: You will gain deep knowledge and understanding of the industry or market you are researching, including key trends, regulations, and emerging opportunities.

What are Some Web Resources to Learn Skills to Become a Market Research Analyst?

Several web resources can help you acquire the necessary knowledge and skills.

Here are some useful platforms and websites you can explore:

  • MarketResearch.com : This website offers various market research reports and articles covering multiple industries. It can help you understand different research methodologies, industry trends, and analysis techniques.
  • GreenBook : GreenBook provides a platform for market research professionals and offers industry news, reports, webinars, and online resources. It covers topics such as research techniques, data analysis, and emerging trends in the field.
  • American Marketing Association (AMA) : The AMA website provides valuable resources and tools for marketers, including market research-related content. It offers articles, white papers, webinars, and events that enhance your understanding of market research concepts and practices.
  • Research Association (ESOMAR) : ESOMAR is a global association for market, opinion, and social research professionals. Their website offers a comprehensive library of resources, including industry reports, webinars, and guidelines for conducting market research.
  • Quirks : Quirks is a website that offers market research articles, case studies, and industry news. It covers various topics like survey design, data analysis, and emerging methodologies. They also have a directory of market research vendors and services.
  • Research World : Research World is an online publication covering recent trends and developments in the market research industry. It provides articles, case studies, and insights from industry experts, which can be valuable for learning and staying updated.

Obtain Certifications

Consider pursuing additional certifications or courses in market research, data analysis, or relevant areas to enhance your knowledge and marketability.  While there is no single universal certification for market research analysts, several reputable organizations offer certifications that can enhance your credentials.

Some popular certifications include:  

  • Certified Market Research Professional (CMRP) : This is a widely recognized certification that demonstrates a market research analyst’s expertise in research methodologies, ethics, and data analysis. It signifies a commitment to high professional standards and best practices in the field. Earning the CMRP can enhance your credibility, increase your chances of landing job opportunities, and potentially lead to higher earning potential.
  • Professional Researcher Certification (PRC) : The PRC certification validates a market researcher’s knowledge, skills, and ethical practices. It covers a broad range of market research topics, including research design, data collection, analysis, and reporting. Holding the PRC designation demonstrates your commitment to professional excellence and adherence to industry standards.
  • Google Analytics Individual Qualification (GAIQ) : While not specific to market research, the GAIQ certification is highly relevant for market research analysts who deal with website data and analytics. It showcases proficiency in using Google Analytics, a widely used tool for analyzing website traffic and user behavior. GAIQ certification can be valuable in demonstrating your ability to interpret web data, track consumer interactions, and optimize online marketing strategies.

It’s important to note that, to take the exam and become certified, you must meet eligibility requirements. Some might require a bachelor’s degree in a relevant field such as marketing, business, or statistics and a specific number of years of experience working in market research or a related area.

What’s the Career Outlook for Market Research Analysts?

As of 2021, the career outlook for market research analysts is generally positive, and the field will continue to experience steady growth. Researchers estimate that there will be a 19% growth from 2021 to 2031, which is way faster than any other occupation.

However, please note that economic and industry trends can change over time, so it’s always a good idea to consult up-to-date sources and labor market data for the most accurate information.

Some of the factors contributing to the positive career outlook for market research analysts include:

  • Increasing Demand: With the rise of technology and data-driven decision-making, there is a growing need for skilled professionals who can interpret and analyze market data. Businesses across various industries rely on market research to gain a competitive edge, expand their customer base, and identify new market opportunities.
  • Globalization and International Markets: As companies expand their operations globally, understanding diverse markets and consumer behaviors becomes crucial. Market research analysts with expertise in international markets and cultural nuances can offer valuable insights and are in high demand.
  • Emphasis on Data-Driven Decision-Making: Organizations increasingly rely on data to drive their strategies in today’s data-driven business landscape. Companies seek market research analysts who can effectively collect, analyze, and interpret data using advanced analytical tools and techniques.
  • Technological Advancements: Advancements in technology, such as big data analytics, artificial intelligence, and machine learning, are revolutionizing the field of market research. Professionals who can adapt to these technological changes and utilize them to extract actionable insights will likely have strong career prospects.

Market Research Analyst Popular Career Specialties

What Are The Job Opportunities Of A Market Research Analyst?

Market research analysts have a wide range of job opportunities across various industries. Their primary responsibility is to gather and analyze data to help organizations make informed business decisions.

Luckily, there are many other job opportunities within the field of market research analysis that a market research analyst can do:

  • Market Research Analyst: This is the primary role of a market research analyst where they collect and analyze data to identify market trends, consumer behavior, and competitive landscape. They design surveys, conduct interviews, and use statistical techniques to interpret the data and generate actionable insights for decision-making.
  • Market Intelligence Specialist: In this role, you would focus on gathering and analyzing data related to the industry, competitors, and market conditions. You would monitor market trends, track competitor activities, and provide strategic recommendations to support business development, product positioning, and market entry strategies.
  • Consumer Insights Analyst: As a consumer insights analyst, you would delve into understanding consumer behavior, preferences, and attitudes. You would employ various research methods such as surveys, focus groups, and interviews to gather data and then analyze it to uncover consumer insights. These insights help companies develop effective marketing strategies and refine product offerings.
  • Data Analyst : Data analysis is an essential aspect of market research, and as a data analyst, you would specialize in processing, organizing, and interpreting large datasets. You would use statistical techniques, data mining, and visualization tools to extract meaningful patterns and trends. Your findings would assist in making informed business decisions and optimizing marketing campaigns.
  • Market Research Consultant: In a consulting role, you would work with clients from different industries to provide expert market research guidance. You would conduct comprehensive market studies, assess competitive landscapes, and deliver strategic recommendations based on your analysis. Consultants often work on a project basis and collaborate closely with clients to address specific business challenges.
  • Brand Strategist: Brand strategists combine market research insights with creative thinking to develop and implement effective branding strategies. You would analyze consumer perceptions, market positioning, and competitive landscape to define brand identities, messaging, and marketing campaigns that resonate with target audiences.

What Type Of Companies Hire A Market Research Analyst?

Market research analysts are in demand across various industries and sectors.

Some of the companies that hire market research analysts include:

  • Market Research Firms: These specialized firms conduct market research for clients across different industries.
  • Consumer Goods Companies: Companies that produce and sell consumer goods often employ market research analysts to gather insights on consumer preferences, market trends, and product performance.
  • Technology Companies: Technology companies, especially those involved in software development, electronics, and telecommunications, rely on market research analysts to understand customer needs, evaluate competition, and assess market potential.
  • Healthcare and Pharmaceutical Companies: These companies require market research analysts to study patient demographics, evaluate the efficacy of drugs, analyze healthcare trends, and assess market opportunities.
  • Financial Institutions: Banks, insurance companies, and investment firms hire market research analysts to analyze market trends, identify investment opportunities, and assess customer preferences.
  • Advertising and Marketing Agencies: Agencies that offer advertising, branding, and marketing services often have market research analysts on their teams to provide insights for developing effective strategies and campaigns.
  • Retail Companies: Retailers employ market research analysts to understand consumer behavior, analyze purchasing patterns, and identify market opportunities.
  • Media and Entertainment Companies: Media companies, including television networks, film studios, and streaming platforms, use market research analysts to understand audience preferences, gauge viewership, and identify potential content opportunities.

What Is The Work-Life Balance Of A Market Research Analyst?

A market research analyst’s work-life balance can vary depending on company culture , industry, workload, and personal preferences. Generally, market research analysts strive to maintain a balanced lifestyle, but the actual balance achieved can differ from person to person.

The working hours of market research analysts involve standard office hours, 9 am to 5 pm, or similar. However, there may be times when they need to perform additional hours to meet project deadlines or during busy periods. Therefore, this affects how these individuals maintain their work and social life.

However, there is also a lot of flexibility in this job. Depending on the company and specific job requirements, market research analysts may have some flexibility in their work arrangements. This could include options for remote work , flexible schedules, or compressed work weeks. Flexibility can contribute positively to achieving a better work-life balance.

The workload varies based on the organization’s demands and the projects involved at different quarters of the year. There may be periods with high-intensity work where you should meet the deadlines, which could affect your work-life balance. However, there may also be quieter periods with a more manageable workload. Balancing workload, managing deadlines, and effectively communicating with stakeholders can help alleviate stress and improve work-life balance.

Personal factors such as individual preferences, commitments, and priorities significantly affect work-life balance. Some market research analysts may prioritize their personal lives, hobbies, or family time more, while others may focus more on their careers. Individuals must assess and prioritize their needs to achieve the desired work-life balance.

Ultimately, achieving a good work-life balance as a market research analyst involves finding a suitable position with a supportive company culture, managing workload and stress effectively, and establishing personal boundaries to ensure time for personal life outside of work.

Should I become a Market Research Analyst?

If you have a passion for market research, understanding market trends, and delving into the factors that influence consumers’ life decisions, this is the perfect career for you. It’s important to make an informed decision based on your interests, skills, and long-term goals. Notably, there will be over 99,800 job openings for market research analysts each year for the next decade leading to this job increase. Therefore, if you’re looking to invest in a promising career for the future, this is the ideal path to pursue.

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Market Research Analyst Job Description

Market research analyst duties & responsibilities.

To write an effective market research analyst job description, begin by listing detailed duties, responsibilities and expectations. We have included market research analyst job description templates that you can modify and use.

Sample responsibilities for this position include:

Market Research Analyst Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Market Research Analyst

List any licenses or certifications required by the position: PMP, MACC, GIS

Education for Market Research Analyst

Typically a job would require a certain level of education.

Employers hiring for the market research analyst job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Marketing, Business, Economics, Statistics, Psychology, Education, Business/Administration, Social Sciences, Finance, Mathematics

Skills for Market Research Analyst

Desired skills for market research analyst include:

Desired experience for market research analyst includes:

Market Research Analyst Examples

  • Microsoft Word (.docx) .DOCX
  • PDF Document (.pdf) .PDF
  • Image File (.png) .PNG
  • Conduct research to build detailed profiles of existing and target customers
  • Conduct research to assess candidate target markets, including estimating market size and identifying key market traits, drivers, challenges and opportunities
  • Perform analysis to identify customer and market trends
  • Plan and conduct secondary market research on the company's competitors across market segments
  • Collaborate to develop market research plans and approaches to answer specific business challenges
  • Plan and lead strategic opportunity analysis and market research activities for the global pharmaceutical and OTC businesses
  • Conduct ad-hoc secondary market research
  • Provide analysis of sales and volume data for specific customers, products, and categories
  • Perform other ad hoc analysis and present findings to senior management as required
  • Maintain accountability on behalf of Global Dealer Learning to provide dealers and districts with project/program deliverables
  • Minimum of 3 years market research experience on the vendor side
  • Minimum of 3 years advanced analytics experience
  • Conjoint and choice modeling (ACA, CVA, CBC, ACBC, MBC)
  • Salford Systems Predictive Modeler Suite
  • Expertise in quantitative research (web, phone and mail) and qualitative research (in person/online focus groups and in-depth interviews), including survey design, data analysis and interpretation, report writing
  • Develop report packages based on internal demand that maximize relevance and usage, and minimize customization
  • Look for opportunities to standardize and systematize reporting across the group, including the use of technology to reach our target audience
  • Create efficiencies in recurring report processes through the advanced use of research tools such as custom screens and filters
  • Seek user feedback regularly in order to further enhance report specs
  • Play a supporting role in larger, more complex projects and may have to take a leading role in smaller, less complex projects
  • Provide input and perspective on product and market research availability as it pertains to specific initiatives
  • Fulfill ad hoc product and market inquiries submitted to group mailbox
  • Run quantitative reports from syndicated research, including reach and frequencies
  • Provide analysis of qualitative profile and product usage
  • Run share shift analysis to show benefits of network radio
  • Well developed knowledge of a wide range of custom market research methodologies and techniques especially in the area of customer satisfaction/loyalty research, brand awareness/usage and new product development
  • Minimum of five years experience in market research
  • BA/BS, preferably in Customer Research or Marketing
  • 4+ years of work experience in business environment, experience in customer insights and/or retail is a plus
  • 2-4 years of progress towards a degree in Marketing
  • Fall 2015 Internship
  • Imputes key data for department’s computer files and library archives
  • Ensures purchase orders are established with contracted vendor fielding the test and works with our finance teams to assure payment is made accordingly
  • Monitors digital and TV feedback thru social sources (Facebook, Google, et al) to see how findings from those outlets are similar or different from what was reported in research testing
  • Communicates with contracted research vendors to set sample specifications on outgoing tests, design and develop questionnaires, and provides norms to establish benchmarks using internal historical databases
  • Works closely with our production teams and filmmakers to review all aspects of the test screening process to make sure everyone is on the same page
  • Works with distribution and sales branch to select proper theater venue, and book security to protect the film with protocols established by our anti-piracy unit
  • Incorporates information on test screening details in our internal status report
  • Monitors guest list and makes arrangements with contracted vendor if VIP's in attendance require special handling
  • Establishes deliverables of who will receive toplines and a set of the questionnaires when the test screening has concluded
  • Transcribes focus groups feedback, reviews data files, and reads completed questionnaires to pen concise analysis of the findings, which may be disseminated to production, filmmakers and possibly select marketing and distribution personnel
  • Bachelor’s degree (Master’s preferred) in a related field (e.g., quantitative methods, statistics, mathematics, marketing, marketing science, business)
  • Bachelor's Degree in Business Administration/Management, Economics, Finance, Math, Information Sciences, Biology/Biological Sciences, Chemistry, Health/Nutrition, Marketing, Engineering, or a health-related field
  • Ability to synthesize data/information and derive useful themes and trends within the business
  • An energetic and enthusiastic team player, with ability to develop strong partnerships within the COE and across core banner partners
  • Any experience with media research and software programs including Nielsen Audio, Scarborough, GfK/MRI, AdSpender, ACT1 and Strata is a plus
  • Genuine interest in the broadcast media industry
  • Knowledge of or experience working in higher education, or market research positions in other industries
  • Manages Projects - detailing and guiding project structure to in-market execution
  • Uses both primary and secondary research to develop, analyze, synthesize and communicate actionable insights to key stakeholders
  • Assists with supporting, developing, communicating, and implementing the strategic direction of the Consumer Research team
  • Proactively mine/analyze available data sources to further our team’s understanding of the business/market, develop hypotheses and identify insight
  • Create the 'story' to facilitate communication of relevant results
  • Closely interact and consult with relevant business teams to ensure objectives, data collection and analysis support key priorities
  • Support the Market Research Manager to help manage external resources/vendors to execute market research, data analysis, and reporting to ensure cost-efficient, accurate, and timely completion of projects
  • Develop a broad and rich understanding of key industry/company trends by leveraging secondary data sources to help monitor and diagnose the brand/category and address business issues and information needs
  • Participate in study design meetings with project team and/or clients
  • Proven competency in managing and administering a learning management system
  • Extensive experience in event contract management with hotels and facilities
  • Possess high quality human relations and communication skills to handle upper-level dealer management engagement
  • Thorough knowledge of company products, product applications or invoicing programs
  • 3 to 5 years of job-related experience within dealer development and learning
  • Experience with international dealers and training events
  • Handling the details of implementing and managing all phases of market research and strategic communications projects
  • Conducting analysis of research studies and creating coherent presentations to help drive strategy and planning
  • Devise and evaluate methods for collecting data such as interviews, questionnaires, focus groups, market analysis surveys, public opinion polls, and literature reviews
  • Conduct research and develop strategies that brief marketing team regarding product launch plan
  • Conduct post launch research that brief Acura product planning and marketing teams
  • Conduct research and analysis to provide business and market insight
  • Understand regional power market dynamics
  • Learn load forecasting methods and perform annual regional load forecast using MetrixND
  • Act as an internal consultant to the business - successful candidate must be self-motivated to learn new subjects and clearly articulate key concepts
  • Develop visually compelling presentations with content rich material and with backup data/analysis for use by colleagues and senior leadership
  • CFA/MBA or progress towards a CFA/MBA is preferred but not necessary
  • The ability to build organized, concise, and transferable models in Excel is required
  • Experience in working with various marketing research databases and software systems is preferred
  • The ability to work in both a team environment and independently is important
  • Minimum of a Bachelor's Degree in Business with prior experience in dealer learning development work in a Distribution Services Division or Business Unit Division
  • Entry level position - prior internships in the media arena required

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Market Research Analyst Job Description

Market research analysts are marketing specialists who help determine an organization’s position in the marketplace in order to effectively promote its products and services. They research competitors and their marketing methods and study and gather consumer information.

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Market Research Analyst Job Description Template

We are looking to hire a market research analyst with outstanding organizational and research skills. Market research analysts are expected to be focused individuals with a strong proficiency in math and sound business acumen.

To ensure success, market research analysts should be exceptional communicators and intuitively recognize patterns with a keen interest in providing purposeful and accurate insight into consumer behavior and competitors’ strategies. Top candidates will exhibit critical thinking skills, strong IT skills, and thorough attention to detail.

Market Research Analyst Responsibilities:

  • Monitoring and forecasting marketing and sales trends.
  • Assisting in the development of marketing plans.
  • Conducting research on specific market conditions.
  • Analyzing consumer preferences to determine the potential sales of a product or service.
  • Analyzing prices, methods of marketing, and distribution.
  • Measuring the effectiveness of marketing programs and strategies.
  • Devising and evaluating methods for data collection.
  • Gathering data on consumers, competitors, and market conditions.
  • Using statistical software to analyze and interpret data.
  • Maintaining strict confidentiality of sensitive information.
  • Simplifying complex data into a user-friendly format, such as graphs, charts, and other visual aids.
  • Preparing and presenting reports to clients and management.

Market Research Analyst Requirements:

  • Bachelors degree in market research or related (essential).
  • Two years of experience in market research and analysis.
  • Analytical thinker with strong theoretical and research proficiencies.
  • Ability to comprehend and interpret competitor strategies and consumer behavior.
  • Thorough knowledge of marketing programs and strategies.
  • Ability to gather large amounts of data and convert it into meaningful analysis.
  • Solid organizational skills and detail-oriented.
  • Ability to work under pressure and meet strict deadlines.
  • Strong proficiency in math, web analytics, and business research tools.
  • Brilliant written and verbal communication skills.
  • Ability to simplify complex information into a user-friendly format.
  • Proficient in Microsoft Office, databases, and statistical packages.

Related Articles:

Market research analyst interview questions, analyst job description, analyst interview questions, equity analyst job description, equity analyst interview questions.

Gain New Insights and Knowledge

What’s a Market Research Analyst? Salary and More

Written by: east carolina university   •  dec 26, 2023.

Market research analyst writing on a whiteboard in a conference room.

What Is a Market Research Analyst? Salary and More ¶

Even the best product doesn’t sell itself. That’s why businesses invest substantial money into the effective marketing and promotion of product and service offerings. To ensure these investments are properly directed, and that the promotional messaging is effectively targeted, many companies hire market research analysts to help them gain understanding about their target audience, and about potential sales projections.

Those who have a background in psychology , and are interested in the thought processes behind marketing and consumer research, may find this line of work rewarding. Earning the right education can lead to a competitive market research analyst salary, and to long-lasting success.

What Is a Market Research Analyst? ¶

The role of a market research analyst is to help business organizations understand key data points about their products and services. The role involves the pursuit of quantifiable data related to the company’s revenue streams, which might include:

  • Which products and services are likely to sell, and which aren’t
  • Who comprises the target audience for a specific product or service
  • How much consumers are willing to pay for a product or service

By assessing these and similar data points, market research analysts help businesses make more informed decisions about how to allocate their marketing dollars, how to tailor their messaging, and even which products to bring to market.

To help produce the needed analysis, market research professionals may use advanced statistical software, allowing them to carefully evaluate sales trends at a granular level. Additionally, market research analysts may draw on their knowledge of human psychology to better understand consumer decision-making—isolating potential values or pain points.

Market Research Analyst Job Description ¶

The specific duties of a market research analyst can vary from one position to the next. A typical job description might look something like this.

  • Monitoring and forecasting sales and marketing trends
  • Providing analysis to guide sales and marketing plans
  • Researching specific consumer demographics or marketing conditions
  • Analyzing consumer sentiment and preference to help determine potential sales
  • Measuring the efficacy of a particular marketing program or strategy
  • Implementing new methods for gathering and evaluating data
  • Using statistical software to evaluate data at a more detailed level
  • Preparing and presenting reports to sales and marketing executives, among other stakeholders

What Is the Market Research Analyst Salary and Job Outlook? ¶

Those who are inclined toward this position may understandably have some questions about the anticipated market research analyst salary, along with overall career prospects. Information from the U.S. Bureau of Labor Statistics (BLS) offers insight into both of these elements.

Market Research Analyst Salary ¶

According to 2023 data from the BLS, the annual median salary for this position is $68,200. A number of factors can impact the market research analyst salary, including level of education, years of experience, and geographic location. The salary of a market research analyst may also be determined by the type and size of the employer.

Market Research Analyst Career Outlook ¶

The same BLS data projects job openings to grow 13 percent between 2022 and 2032. This rate is much higher than the average job growth for the U.S. employment market as a whole, which is projected to be seven percent over the same time period.  This signals that market research analysis is an in-demand field with ample opportunity for career growth.

How to Become a Market Research Analyst ¶

To succeed in this role, and to command the highest possible market research analyst salary, it’s crucial to develop a robust set of skills. Generally, this is accomplished through a combination of academic development and on-the-job experience.

1. Pursue Education ¶

To become a market research analyst, it’s essential to obtain an undergraduate degree. This may be in business administration, psychology, or a related field. A bachelor’s degree will provide some foundational skills. A more advanced degree—though not always required—may open the doors to a more competitive salary and to positions of greater responsibility. 

2. Gain Experience ¶

Before ascending to a market research analyst role, it may be helpful to gain some experience in entry-level roles. Potential job options include working as a marketing assistant or an account representative. 

3. Seek Certification ¶

Certification isn’t mandatory, but can often lead to more prestigious roles. There are several certifications available to market research professionals, with the most notable being the Professional Researcher Certification (PRC). This certification is provided through the Insights Association.

4. Hone Key Skills ¶

Through the pursuit of education and experience, aspiring analysts can develop the proper set of skills for long-term success. Some of the most essential market research analyst skills include:

  • Familiarity with basic marketing principles
  • Analytical thinking
  • Written and oral communication skills
  • Proficiency with statistics

Pursue a Career in Market Research ¶

Market research roles perform at the intersection of psychology, statistics, sales, and marketing. It’s a role that can be integral to the success of any business or organization. One way to prepare for lasting impact in the profession is to pursue an academic background in psychology—as with the online BA in Psychology program from East Carolina University. 

Learn more about the program and how it can position you for success in a wide range of fields.

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Market Research Analyst Job Description

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Market Research Analysts are experts who identify an organization’s position in the marketplace to better promote their products and services, help with developing marketing plans, analyze consumer preferences and forecast marketing and sales trends.

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Their expertise includes conducting detailed market analysis, which involves examining industry data and monitoring consumer behavior. They use this information to provide valuable insights that help shape and improve effective marketing strategies.

Optimize your recruitment process for Market Research Analyst roles using OysterLink’s intuitive Job Description Template.

Market Research Analyst Job Overview

We are looking for an expert Market Research Analyst who will become a key member of our team at [Company Name] .

The ideal candidate should gather and interpret data on consumer behaviors, preferences and demographics and analyze competitor strategies and market conditions.

Your insights will be key in guiding our marketing strategies and product development. You will also work closely with our marketing and sales teams to understand their needs and provide data-driven recommendations.

In addition, you will be responsible for creating detailed reports and presentations that communicate your findings and suggestions to key stakeholders.

As a Market Research Analyst, your role entails regularly monitoring marketing and sales trends. You will use various tools and methodologies for market research, ensuring accuracy in your work.

If you are passionate about understanding market insights, analyzing consumer behavior and shaping data-driven marketing strategies, we invite you to apply for the Market Research Analyst position at [Company Name] .

Salary: $63,000–$83,000/year

Schedule: Full-time (40 hours per week), Monday–Friday

Market Research Analyst Duties & Responsibilities

  • Monitor and forecast marketing and sales trends
  • Analyze prices, marketing methods and distribution channels
  • Analyze consumer preferences to estimate potential product or service sales
  • Learn about market conditions
  • Assist in developing marketing plans
  • Assess methods for data collection
  • Consolidate data on consumers, competitors and market conditions
  • Use statistical software for data analysis and interpretation
  • Maintain strict confidentiality of sensitive information
  • Streamline complex data into user-friendly formats, such as charts or graphs
  • Generate and present reports to the management

Market Research Analyst Experience Requirements & Skills

  • Proficient in analytical thinking, with exceptional research skills
  • Skilled in understanding and analyzing competitors’ tactics and consumer trends
  • Knowledgeable in different marketing initiatives and strategies
  • Capable of collecting extensive data and turning it into significant insights
  • Knowledgeable in web analytics and business research tools
  • Proficient in simplifying complex information into user-friendly formats
  • Proficient in Microsoft Office, database management and statistical software
  • Strong mathematical skills
  • Excellent in both written and oral communication
  • Competent in managing tasks under stress and meeting tight deadlines
  • Highly organized
  • Great attention to detail

Market Research Analyst Education & Qualifications

  • Bachelor’s degree in Market Research or a related field
  • Two years of experience in analysis and market research

Market Research Analyst Job Description Template — Free Download

This customizable template gives you the ability to change key elements such as working hours, salary and additional details to align with the specific requirements of your organization.

Enhance your recruitment approach using our adaptable Market Research Analyst Job Description Template. Simply provide your email and select Download .

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Market Research Analyst Salary and Job Outlook

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A powerful strategy for any company is to get customers to love its products or services. Research supports the tried-and-true notion that a direct link exists between revenue growth and how customers feel about what a company offers them. This connection seems simple enough; however, businesses often rely on experts who can make sense of the data. Market research analysts examine numerous factors to assess a company’s standing in the market and its relationship with its customers, including product sales, consumer preferences and buying habits, and its competition. They make it their mission to read market trends, with the goal of maximizing a company’s return. The exponential growth of market data—from social media impressions to online product reviews—and the increasing interest in understanding this data are expected to drive significant demand for market research analysts in the coming years. Pursuing an advanced business education can impact a market research analyst’s salary and their ability to qualify for leadership roles in this important business sector.

Market Research Analyst Job Description

A market research analyst making a presentation to colleagues points to a big screen.

Market research analysts are key players in developing and measuring the effectiveness of a marketing strategy. They help businesses better understand customer reception of their products and services, how to reach their target audience, and any targeted price points those services and products may sell best at. Market research analysts rely on a host of tools to collect data, including surveys and questionnaires. They may conduct focus groups or perform literature reviews. In the age of big data, analysts also use data analysis software and other technological tools to analyze and interpret market data. A critical aspect of a market research analyst’s job description is sharing this information with key stakeholders and decision-makers. Analysts convert the insights they glean from their analysis into written reports and visualizations, like charts and graphs, and present those findings to a broad audience, including clients and executives. Because their skill set is so valuable, analysts can find work in health care, finance, and retail—any industry in which marketing can influence a company’s success. Quantitative vs. Qualitative Analysis The two most prominent types of market research analysis are quantitative and qualitative. Quantitative analysis focuses on numerical data, using surveys and other tools to collect data on consumer behavior and market trends. Analysts performing quantitative analysis use statistical software and data visualization tools to analyze large data sets, identifying patterns and trends to inform business decisions. Qualitative analysis, on the other hand, is a more subjective form of market research that focuses on nonnumerical data. For qualitative analysis, analysts may conduct focus groups and use other forms of research to gain insights into consumer behavior and preferences. They analyze this data to identify themes and trends to help businesses develop more effective marketing strategies.

How to Become a Market Research Analyst

Prospective analysts often need to meet certain educational requirements. They typically need a bachelor’s degree in a relevant field, such as marketing, statistics, or finance. While a bachelor’s degree is sufficient for entry-level positions, many companies prefer a master's degree, particularly when hiring for more senior positions. Master of Business Administration (MBA) programs, especially those that offer a marketing concentration, can be an excellent way to build up and demonstrate business acumen. An MBA can also equip students with a broad range of business knowledge and skills highly relevant to market research and can help graduates stand out to recruiters. A 2022 survey from the Graduate Management Admission Council (GMAC) revealed that 90% of corporate recruiters were confident that MBA graduates would succeed in business. And according to 2021 data from the CMO Survey, an MBA can also result in a higher market research analyst salary than other advanced degree options. In addition to a graduate degree, several relevant certifications can help aspiring market research analysts gain a competitive edge in the job market. One of the most well-known certifications in the field is the Certified Market Research Analyst (CMRA), which helps demonstrate proficiency in various market research techniques and methodologies and a commitment to professional standards and ethics. Work experience is also often a crucial step in becoming a market research analyst. Entry-level positions, such as research assistant or analyst, can provide valuable on-the-job training and experience in conducting research studies, analyzing data, and presenting findings to an audience.

The median annual salary for market research analysts was $63,920 as of May 2021, according to the U.S. Bureau of Labor Statistics (BLS). The top 10% of earners made roughly double the median, with a salary of $128,320. Numerous factors can affect compensation, including experience level, location, and industry. For example, the BLS reports that market research analysts in publishing and those in finance and insurance earned $79,450 and $76,650, respectively. The job outlook for market research analysts is also promising, with the BLS projecting a 19% growth in employment from 2021 to 2031, resulting in the creation of more than 150,000 new jobs. This projection is much higher than the average for all occupations (5%), due to the increasing importance of big data in informing business decisions and the need for companies to remain competitive by gaining insights into customer behaviors and preferences.

Advance Your Career as a Market Research Analyst

Market research analysts are crucial drivers of business success. As industries continue to evolve and customer preferences change, analysts will remain vital. The insights they provide can make the difference between a successful business and one that struggles to compete in a crowded market. Because of their significant contributions to business growth, market research analysts are in high demand across a range of industries. Individuals considering this career path should explore Washington State University’s Online Master of Business Administration program. The program, which includes a marketing concentration , delivers a comprehensive education that can prepare you for success as a market research analyst, with courses in data analysis, market fundamentals, and new product marketing. MBA graduates will also complete a capstone project, which offers students the opportunity to put their knowledge into practice by building and presenting a business plan, along with testing a product to measure its commercial potential.

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market research analyst job description salary and skills

Market Research Analyst

Job description overview.

A Market Research Analyst job description involves studying market conditions to help businesses understand what customers want and need. They gather data on consumer behaviors, trends, and preferences, analyze it, and then share their findings with their team. The Analyst helps businesses make strategic and informed decisions by identifying opportunities or threats in the market. 

On a typical day, the Analyst may use tools such as surveys, focus groups, and questionnaires to collect data from customers. They analyze this data to identify trends, patterns, and insights that can be used to develop marketing strategies that drive sales. They also create reports to share their findings with their team, as well as clients or stakeholders. 

To become a Market Research Analyst, a Bachelor’s degree in market research, statistics, business administration, or a related field is required. The Analyst should also have strong critical thinking, analytical, and communication skills. They should be able to work in a fast-paced environment and have excellent attention to detail.

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Table of contents, job duties and responsibilities.

• Collect and analyze data on market trends and competitors

• Develop surveys and questionnaires to gather feedback from customers

• Use statistical software to analyze and interpret data 

• Present findings and recommendations to management 

• Monitor and report on the effectiveness of marketing campaigns 

• Identify potential target markets and develop strategies to reach them 

• Collaborate with other departments, such as sales and product development 

• Stay current on industry trends and developments 

• Conduct focus groups and interviews with customers and stakeholders 

• Maintain a database of market research findings for future reference.

Experience and Education Requirements

If you want to become a Market Research Analyst in the Marketing industry, you'll need both education and experience. Usually, employers require a Bachelor's degree in marketing, statistics, or a related field. But having a Master's degree can give you an edge over other candidates. In addition to formal education, employers also look for candidates who have experience working in the field. You can gain experience through internships, volunteering, or working part-time jobs in market research. It's also helpful to have skills in data analysis, communication, and critical thinking. So, if you're interested in a career as a Market Research Analyst, start by getting the education and experience you need to succeed.

Salary Range

The average salary range for a Market Research Analyst in the Marketing industry in the United States is between $45,000 to $85,000 annually. However, this can vary depending on the location, experience level, and company size. For example, in San Francisco, the salary range can be higher, averaging around $65,000 to $130,000 due to the higher cost of living. In contrast, in smaller cities, the range may be lower, averaging around $40,000 to $70,000. Good data for other countries is limited, but in Canada, the range is around CAD $40,000 to $75,000. These figures are based on data from Glassdoor and Payscale.

  • Payscale 
  • SalaryExpert

Career Outlook

If you're interested in becoming a Market Research Analyst, you'll be happy to know that the job outlook for this field is positive. According to the United States Bureau of Labor Statistics, job growth for market research analysts is projected to be 18% from 2019 to 2029. This is much faster than the average for all occupations. 

This growth is attributed to the increasing demand for data analysis to inform business decisions. As companies become more data-focused, there will be a need for skilled analysts to handle this information. Market Research Analysts help businesses to identify market trends, understand customer behavior, and assess competition. Their valuable insights help companies to make informed decisions and stay ahead of their competitors.

Overall, the outlook for Market Research Analysts is promising. If you're interested in this career path, it's worth considering further education and training to set yourself apart from other job applicants.

Frequently Asked Questions (FAQ)

Q: What does a Market Research Analyst do?

A: As a Market Research Analyst, you collect and analyze data about target markets for products and services.

Q: What are the necessary qualifications for this job?

A: Generally, you'll need a bachelor's degree in marketing, statistics, or a related field, as well as knowledge of statistical analysis software.

Q: What skills are essential for this role?

A: Strong analytical skills, knowledge of data analysis software, and advanced communication skills are crucial for a Market Research Analyst.

Q: What types of companies employ Market Research Analysts?

A: Companies in various industries, including healthcare, finance, and consumer goods, employ Market Research Analysts to gain insights into target markets and improve their products and services.

Q: What kind of salary can you expect as a Market Research Analyst?

A: As of 2021, the average annual salary for a Market Research Analyst was around $67,000, though this can vary based on company size, location, and experience level.

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Market research analyst: job description

Olivia Rowland

Last updated: 19 Jul 2023, 09:04

A market research analyst works collecting and assimilating data and interpreting it to identify changes and forecast trends.

Supported by:

Chambers and Partners

A graphic of a yellow arrow with the word 'strategy' written on it.

Market research analyst : Salaries | Employers | Qualifications and training | Key skills

Marketing research analysts (also known as research executives) gather together and analyse data from numerous sources and feed the results – and sometimes recommendations as well – back to clients.

Typical responsibilities include:

  • designing questionnaires and advising on methodology of collection of data.
  • collecting data and assimilating statistics, using statistical software.
  • monitoring the progress of data collection.
  • collating information and interpreting data for clients.
  • making recommendations based on the data collected.
  • presenting findings to clients in easy-to-understand formats.
  • managing data collectors and data input assistants.
  • negotiating contracts for research projects.
  • managing focus groups, carrying out interviews and conducting surveys.
  • managing budgets.

Research analysts usually specialise in either quantitative or qualitative research. Quantitative research involves working with large amounts of information from statistics from structured questionnaires and can be used to identify attitudes, behaviours or patterns of sales.

Qualitative research is usually based on one-to-one interviews or focus groups. These are more unstructured and have to be interpreted by the market research analyst. They can show underlying reasons, opinions, and motivations, and take longer to complete.

The nature of the research will vary depending on the type and size of employer and the industry in which work is carried out.

Graduate salaries

Salary survey websites suggest that starting salaries for graduate market research analysts tend to be around £19,000. Earnings will rise with experience, which can be rapid due to the pace of this industry.

Typical employers of market research analysts

  • Market research consultancies.
  • Marketing agencies.
  • Manufacturers.
  • Governments and local authorities.
  • Financial organisations.

As a market research analyst, you could work for a marketing consulting firm and work on projects for a range of clients. These are likely to be small organisations or those that have short-term needs. Alternatively, you could work for an organisation in a different sector (such as a charity, a bank or a retailer) and look after projects relating to this organisation only. These employers are likely to be bigger and to employ a market research team.

With experience, you can also work on a freelance or consultancy basis.

A number of market research organisations offer graduate schemes, and you can find vacancies via targetjobs , university careers services and industry body websites. Specialist recruitment agencies also advertise graduate market research jobs.

Qualifications and training required

Common degree subjects for quantitative researchers are maths, statistics, economics or business, while, for roles specialising in qualitative research, common degree subjects are often in social science or humanities. A postgraduate qualification involving research could be an advantage for specialist roles or ones in competitive sectors.

However, you may not need a specific degree for some roles, particularly trainee roles in which you’ll learn on the job. School leavers can enter the profession via an apprenticeship or by applying for junior roles and working their way up.

Work experience will boost your job applications, introduce you to software and tools used in market research and give you an insight into whether this field is the right role for you. The Market Research Society lists organisations interested in hosting work experience students. You could also explore research-based part-time work, such as conducting surveys or being a mystery shopper.

Key skills for market research analysts

  • The ability to cope with fast-paced and pressured work.
  • Strong attention to detail and an analytical mind.
  • The ability to notice patterns within statistics.
  • An interest in psychology and behaviour.
  • Good organisational skills .
  • Excellent (spoken and written) communication skills .
  • Confident presentation skills.
  • Commercial awareness .
  • A methodical approach to work.
  • Strong IT skills, including knowledge of (or willingness to learn) statistical software packages.

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  • Marketing graduate jobs
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What Is a Market Research Analyst? 2024 Guide

Market research analysts pore over trending keywords, survey responses, social media mentions, and more to understand markets, customers, and competitors. Learn more about this high-demand role.

[Featured image] Staff reviews marketing data

Market research analysts—sometimes called market researchers—help companies develop or maintain a competitive edge by finding and delivering data-backed insights into potential markets, competitors, and even customer behaviour.

They’re an integral part of a company’s overall marketing strategy and are in demand across multiple industries. Look at the role of a market research analyst and what you can expect working in the field.

What does a market research analyst do?

Market research analysts pore over trending keywords, survey responses, social media mentions, and other data to find answers. Essentially, they transform information into actionable insights that will help companies develop everything from competitive product launches to effective marketing campaigns.   

Each company’s needs differ, but your responsibilities as a market research analyst may include:

Developing data collection tools and techniques 

Using data modelling tools

Analysing data sets and communicating findings 

Contributing data-backed insights to marketing strategy 

Conducting product testing and brand research 

What type of research does a market research analyst conduct?

A market research analyst conducts qualitative and quantitative research. In other words, they gather statistical data and solicit responses about people’s beliefs, opinions, and experiences.  

An analyst’s research can span multiple areas, including: 

Primary and secondary customer research—everything from demographics to opinions—helps a company develop more targeted marketing and align its products and services with customers’ differing needs. Market research analysts may also identify how companies find, acquire, and retain customers while avoiding churn—or customer loss. 

Primary vs. secondary research: What's the difference?

Primary research is research you conduct yourself, building original tools or techniques to help you collect new information. Research someone else has done, like a government agency or research think tank, is considered secondary research.

As a company develops new offerings—like products, services, or ideas—market research about competitors, similar products, and potential sales can help successfully position each launch. Market research analysts investigate new and existing markets, learning as much as possible so they can deliver precise suggestions.

Both new and established companies rely on brand research to strengthen their position in the market. Conducting a competitive analysis to see how a company’s brand fares against competitors and researching customers’ brand awareness and perception helps them remain competitive. Those findings can also yield insights into customer acquisition, retention, and loyalty.

Understanding how a company’s customers feel about advertising at all phases of a marketing campaign can produce specific messaging and, in turn, more impactful campaigns. Whilst this type of research typically falls under a marketing analyst role, market research analysts at smaller companies may sometimes analyse a company’s marketing strategy.

Market research analyst job description

Qualifications.

Market research analyst jobs typically require a bachelor’s degree in business or a related field to qualify for an entry-level role. More senior-level market research analyst jobs may require a master’s degree or several years of experience.

Subjects and coursework that can prepare you for a job as a market research analyst: 

Business administration 

Sociology  

Market research analyst technical skills

Data collection tools : Market research analysts gather data from various sources, including surveys, social media platforms, keyword trends, and audience insights. Market research analysts use Qualtrics, SurveyMonkey, Typeform, Google Trends, and SEMrush, among many other tools, to learn more about customers, markets, and competitors.

Statistical analysis : Because market research involves working with quantitative data, it’s important to understand how to apply statistical techniques to group your data into relevant, actionable findings. Whilst many programs, like the data visualisation tools below, offer a statistical analysis feature, they shouldn’t replace a more foundational knowledge.  

Data visualisation : Once a market research analyst has collected relevant data, they must structure their findings comprehensively. Using data dashboards or data analytics suites can help convey essential findings to other teams. Market research analysts use data visualisation tools like Tableau, Qlikview, and Plotly.  

Programming languages : Although not always necessary, some companies do require market research analysts to know a programming language, such as R, SQL, SAS, or SPSS, which feeds into their data gathering and data interpretation efforts. Make sure to read over job descriptions to learn which language, if any, a company prefers.

Market researcher workplace skills

Interpretation : Parsing data is critical to a market research analyst’s role. After gathering the necessary data, you must interpret those findings in light of a company’s product and marketing needs.  

Critical thinking : Conducting market research means asking the right questions to find the best data, extracting meaning from collected data, and then applying those insights to a company’s marketing strategy.    

Communication : Translating insights into recommendations that other teams can act upon will help in a marketing research analyst's line of work. A strong ability to speak and write clearly and constructively is an asset. 

Interviewing : Many market research analysts rely on digital surveys to glean customer responses, but the role can also involve conducting customer interviews or focus groups. Being comfortable speaking with strangers and getting them to open up about their experiences is a key skill.

What are the benefits of being a market research analyst?

Job prospects.

As companies need insight into customer behaviour to keep their competitive edge, market research analysts will continue to serve an integral role. In 2021, revenue in the Asian Pacific market research industry grew more than 10 per cent year over year [ 1 ]. This trend should continue, as experts expect the global market to exceed $83 billion by 2025 [ 2 ].

Market research analyst salary

According to Glassdoor, the median salary for a market research analyst in India is ₹5,15,767, though salary can differ depending on the industry [ 3 ].

Market research analyst vs. similar roles

Market research analysts share much in common with roles that also parse data and deliver strategic insights.

Marketing analyst

Although market research analysts are sometimes confused—and even called—marketing analysts, the two roles differ slightly. Marketing analysts focus internally on a company’s marketing efforts rather than externally on markets, but both roles use data to inform their recommendations.

Business analyst

Another role that relies heavily on data, a business analyst analyses large data sets to make recommendations that will strengthen a business’ processes and help it run more efficiently.

Data analyst

With a much broader role than the three previously described, a data analyst typically works with large, raw data sets that must first be cleaned to yield important insights. Data analysts apply their findings to an array of organisational and business needs.

How to become a market research analyst

1. look for a related entry-level role.

Whilst some entry-level market research analyst roles exist, most employers prefer at least two years of experience. If you’re interested in becoming a market research analyst, consider a related role to help you gain experience and grow more competitive. Working as a marketing assistant or data analyst can provide you with the experience necessary to move into market research analysis.

2. Brush up on related technical skills

Knowing that market research analysts use specific tools to gather and assess customer, market, and competitor data, it’s a good idea to research the most popular programs and refine your knowledge of them. Watch tutorials, use free trials, and familiarise yourself with the tools of the trade.

3. Take a course

Taking courses that expose you to critical strategies of market research can help introduce you to the work of a market research analyst. You can start with the Google Digital Marketing & E-commerce Professional Certificate offered on Coursera. You’ll learn how to manage digital marketing campaigns, attract and engage customers, and prepare for media planner and marketing coordinator jobs. 

Article sources

Statista. " Annual Growth in Market Research Revenue Worldwide by Region 2021 , https://www.statista.com/statistics/378039/annual-change-in-market-research-revenue-by-region/." Accessed July 27, 2023.

PRNewswire. " Global Marketing Research and Analysis Services Market Report 2021: Market is Expected to Reach $83.39 Billion in 2025 - Forecasts to 2030 , https://www.prnewswire.com/news-releases/global-marketing-research-and-analysis-services-market-report-2021-market-is-expected-to-reach-83-39-billion-in-2025---forecasts-to-2030--301338542.html." Accessed July 27, 2023.

Glassdoor. “ Research Analyst Salaries , https://www.glassdoor.co.in/Salaries/market-research-analyst-salary-SRCH_KO0,23.htm.” Accessed July 27, 2023.

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Job Descriptions, Interview Questions, Resume Tips | NigCareers

Market Research Analyst Job Description

Market Research Analyst Job Description, Skills, and Salary

Get to know about the duties, responsibilities, qualifications, and skills requirements of a market research analyst. Feel free to use our job description template to produce your own. We also provide you with information about the salary you can earn as a market research analyst.

Who is a Market Research Analyst?

Market research analysts combine data sources from multiple sources to create results that clients can use. They may be asked for recommendations based on their findings. These professionals are available for hire by both the public and private sectors, as well as charities and non-profit organizations. Research Analysts can also be employed as consultants and freelancers.

Details of the research will be affected by the industry and type of employer. Market research analysts can be skilled in both qualitative and quantitative research. Quantitative research involves the collection of large amounts of data using structured questionnaires. It is used to identify trends and patterns in sales.

Focus groups and one-to-one interviews are the most common methods of qualitative research. These data are not as structured and must be interpreted correctly by market researchers. When this is done, then the data can reveal the underlying motivations, opinions, and reasons. They may take longer to complete.

Companies can use market analysts to help them understand their target markets. Market research analysts conduct in-depth research to understand market trends and consumer buying patterns, as well as other relevant metrics. A thorough understanding of these areas will help companies develop the best products, and decide which customers will purchase them at specific prices. This can be done by market research analysts using various methods, such as interviews and market research. They can also analyze and research competitors.

Many businesses across industries are increasingly relying upon market research and statistics to make informed business decisions and create effective plans. Market research analysts are an integral part of many organizations.

Market research analysts also help companies to maintain or improve their competitive edge. They provide data-backed insights on potential markets and competitors.

They are essential to any company’s overall marketing strategy and are highly sought after in many industries. According to the US Bureau of Labor Statistics market research analysts’ employment is expected to grow by 22 percent over the next ten years.

Market Research Analyst  Job Description

Below are the market research analyst job description examples you can use to develop your resume or write a market research analyst job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.

The job and duties of a market research analyst include the following:

  • Combining data from consumers, competitors, and the market, and creating actionable presentations, reports, and presentations.
  • Learning more about the company and conducting surveys to discover the preferences of potential customers.
  • Analyzing and collecting statistical data using modern and traditional methods
  • Implementing a valid and reliable SWOT analysis of the market
  • Creating reports, making recommendations, and interpreting data
  • Doing a market analysis to compare the offerings of different companies.
  • Identifying market trends, pricing/business models, sales, and other methods of operation.
  • Assessing program methodology and key information to ensure that accurate data is collected and the right angle is used for releases.
  • Creating different databases by using online market research and catalog results
  • Staying current on market trends, as well as other parties’ research.
  • Designing and evaluating data collection methods such as surveys, focus groups, polls, surveys, or questionnaires.
  • Analyzing data using various statistical software
  • Evaluating effectiveness and efficiency of marketing programs and strategies.
  • Forecasting and monitoring trends in sales and marketing.
  • Analyzing the collected data and arranging it into statistical tables and reports.
  • Assisting in the development of marketing strategies.
  • Carrying out in-depth market research.
  • Analyzing consumer preferences to determine the potential sales of a product or service.
  • Measuring the effectiveness and efficiency of marketing programs and strategies.
  • Assessing and developing data collection methods.
  • Collecting data on consumers, competitors, market conditions, etc.
  • Utilizing statistical software to analyze and interpret data
  • Securing sensitive information with strict confidentiality
  • Analyzing prices and marketing strategies.
  • Using graphs, charts, or other visual aids to simplify complex data.
  • Preparing and presenting reports to clients and managers.
  • Identifying and clarifying the objectives of marketing research projects assigned to you; recommending the best way to accomplish them.
  • Drafting questionnaires, polls, and surveys.
  • Collecting data about current product demand, customer demographics, and interest.
  • Collects information on competitors’ products such as pricing, sales, and marketing methods.
  • Analyzing and summarizing data.
  • Using reports that include data, graphs, and text to explain complex findings.
  • Making use of strategic research methods to find new markets and products.
  • Forecasting and tracking industry sales and marketing trends.
  • Reporting to the management and/or executive leadership to present research findings.
  • Using charts, graphs, and other visual tools to present their findings and make informed decisions about product launches, modifications, and marketing campaigns.
  • Helping different companies by the visual representations of industry trends and competition

Requirements

  • Experience in market research analysis
  • Multi-tasking ability
  • Ability to interpret large quantities of data
  • Communication and presentation skills are essential
  • Have a fundamental knowledge of statistical packages (SPSS or SAS, or similar), MS Office, search engines, web analytics, and business research tools
  • Must be familiar with the use of CRM programs
  • Knowledge of data collection methods (polls and focus groups, surveys, etc.)
  • Knowledge of data warehouse, modeling, and mining
  • Strong analytical and critical thinking skills are required for this role
  • Must have a BS degree in Statistics, Marketing, or a related field

How to Become a Market Research Analyst

  • Learn more about this field

Market research analysts are sought out by companies in every industry to help them understand their target audience, channel preferences, and the product’s needs.

Market research analysts are hired by companies when faced with important decisions. Companies with larger budgets might have their product or marketing departments.

Karen Munson, president of Mazur Zachow Inc. in Brookfield (Wis.), says market research comes with two sides. Interviews and focus groups are part of the qualitative side. Surveys are part of the quantitative side.

Market research analysts are crucial in helping companies find the answers to key questions when they want to introduce new products and services to the market. These analysts can answer questions like:

  • Who are our customers?
  • What price will people be willing to pay?
  • Which product should we name it?
  • Is your customer located in the following area?

Once they have the answers, the company can refine its marketing efforts. Munson explained that market researchers convert marketing information into concrete strategies for clients, regardless of whether it is internal or external.

  • Do more of what you love

Munson says that writing and math are the most important skills for this job. Surveys and data collection will be your main duties. You will then be able to use the data you have collected as numbers. You will be able to identify statistical significance in the data if you have a solid background in math or statistics.

Market research analysts must be able to meet with key stakeholders, answer their questions, collect data and analyze it. They must communicate clearly and be able to speak clearly.

Critical thinking is essential. These professionals gather large amounts of data to answer clients’ questions. This requires more than simply solving math problems or memorizing data sets. You must be able to see the details because you will often be performing granular data analyses without getting lost in the details. These details must allow you to conclude.

Marketing professionals often overlook creativity as a crucial skill. Once data has been collected, it is important to use an open and creative approach to analyze and generate insights. Creating solid guidebooks and questionnaires for interviews takes a lot of thought.

Include relevant skills and experience in your resume. It will be easy to find the right experience and skills for the position of the market research analyst. These skills might include:

  • Analyzing data
  • Creating surveys
  • Communication verbally and in writing
  • Calculating statistics
  • Reporting and presenting
  • Marketing experience and background should be highlighted
  • Highlight your education and experience

Market research analysts have many options for educational backgrounds. Market analysts do not need to have specific educational qualifications. However, those who are interested in working in quantitative research will need to have a strong background in math, statistics, and other analytical disciplines. Qualitative research involves more time with focus groups and interviews, so communication skills will be essential.

Munson recommends that you take English classes. Research can be beneficial. Your job is to make sure clients understand the data.

Although an advanced degree is not necessary to get a job in market analysis, having an MBA will help you move up the ladder. Market research professionals account for 25% of all those who have a master’s.

An internship in marketing or marketing research, like many other fields, can help you network and build skills that will help you stand out from the crowd. When writing your resume, you can consider relevant work experience that could help you as a market analyst.

It’s a smart idea to include any jobs that require you to meet customers or clients (such as retail sales) in your resume. This applies to any job that requires data analysis or research. If you worked during summers in campus labs, you can still apply.

  • Connections are vital

Every job seeker should have a LinkedIn profile. This profile will allow you to build professional relationships as well as let you see the people you know at companies where you are applying. You can also connect with former classmates, professors, and friends from college to expand your network.

Marketing associations that are relevant to market research offer great mentoring opportunities and educational opportunities. These are two organizations you should look into joining.

American Marketing Association offers classes and certifications, as well as a job board that allows you to search for internship and entry-level positions. This will allow you to get started in your career as a marketer. Learn from mentors about the latest trends in marketing.

  • Cover letter and resume editing should be done

A well-written cover letter and resume are required for market research analyst positions. This profession requires excellent communication skills. LiveCareer will teach you how to write a cover letter and how to create a resume.

Munson believes it is essential to be able to communicate verbally and have a broad knowledge. It is possible to spend a lot of time on the computer but it will all lead to clients communicating what you have learned. They want to see your research results and how they are translated into useful information. They don’t care what trends or statistics you’ve found. Your job is to answer that question.

Your cover letter and resume should be customized for each job. Highlight specific accomplishments and experiences. Relevant examples can be taken from internships or volunteer work.

To ensure you can pass any screening software used to screen potential employers for qualified candidates, use the same relevant words and phrases in your resume as they are in the job descriptions.

Once you find the right job as a market research analyst, it is important to be ready to apply.

Essential Skills

Market research is a vital tool in today’s globally competitive economy. Market research is what entrepreneurs use to refine their startup ideas and increase their chances of success. It’s what established businesses use when evaluating the viability and feasibility of new products or services. Modern businesses don’t make any moves without conducting market research.

This makes market research analysts highly valuable in today’s job marketplace. However, it’s not as easy as you might think to learn how to become a market researcher analyst. It’s not an easy job. Market research is a science-art discipline. You’ll need to have a wide range of skills to excel at this job.

These are the key skills required to be a market researcher analyst.

  • Data Analysis Skills

Market research is fundamentally about gathering large quantities of data that you can use to gain valuable insights into a particular industry or line of business. Data analysis is therefore the most important aspect of a market research analyst’s job.

Market research analysts need to be able to understand four types of data analysis. This includes the following:

  • Descriptive data analysis – This is a technique to organize and classify historical data to identify trends. This can be used to quantify past business practices in their raw terms (like sales, product manufacturing, site visits, etc.).
  • Diagnostic Data Analysis – This involves techniques for comparing data sets to identify causal relationships. A diagnostic analysis will look for reasons why sales increased over some time, such as a marketing campaign or a price increase.
  • Predictive data analysis – This is a technique that uses existing data to predict future trends and outcomes. This involves the use of complex mathematical models and machine learning algorithms to extract meaningful predictions from data sets.
  • Prescriptive data analysis – This is a more advanced form of predictive analysis. The prescriptive analysis attempts to forecast possible outcomes from hypothetical business practices changes. This could be used by an existing company to assess whether the discontinuation of production of a product will have unintended consequences or if it might lead to new products being introduced.
  • Data collection skills

Market research analysts are often required to collect additional data even though they work with data already in place. This means that they must be proficient in many data collection techniques. These include the following:

  • Interpersonal and interview skills – Market research analysts make use of customer interviews and focus groups to gather specific data for their research. To get usable data,  it is imperative to have excellent interpersonal and interview skills. It is crucial to get useful information without potential biases.
  • Survey Creation – Market researchers must be able to create valid, scientifically sound surveys to concentrate on the data they are trying to collect. To create and publish digital versions, they must also be proficient in using form builder software.
  • Data Curation – This is the ability to organize and reduce data to make it useful for market research. It is the ability to remove irrelevant data and prepare for market research.
  • Communication skills

Market research serves a major purpose: to discover business insights that can be used to inform strategy. Data alone is not enough to understand a business context. Market research analysts need to communicate well. They can communicate the importance of their findings to stakeholders who might then use them in decision-making. They wouldn’t be able to work effectively in a business hierarchy without this skill.

  • Data Visualization Skills

Data visualizations are visual representations of data that highlight relevant trends and takeaways. These visualizations allow stakeholders to understand and see the work of market research analysts without having to be experts in data analysis.

  • Psychology and Human Behavior

A market researcher analyst’s role is to understand how consumers react to products, services, and business strategies. They need to have a deep understanding and appreciation of psychology and human behavior. Because market research does not always provide clear answers to all business questions, Market research analysts are more of an art than a science.

Market research analysts must use their psychology knowledge to create the right investigations that yield valuable insight. They need to have a keen sense of intuition and insight into consumers’ behavior. Without this, it would be impossible to limit the possibilities of inquiry. This knowledge is valuable and helps market researchers make base assumptions that will guide their work.

Where to Work

A Market Research Analyst is a key member of the marketing team that can help organizations achieve their goals. Market Research Analysis is a skill that can be applied to any industry.

As a part of a marketing team, you’ll be working in an entry-level role. As you gain experience and grow in your career, you may choose to become a consultant or a marketing manager.

These are just a few of the industries that actively seek the services of market research analysts:

  • Wholesale traders
  • Manufacturing
  • Consultancies
  • Finance and Insurance

The majority of jobs are found in market research agencies and consultancies. These agencies are responsible for overseeing research projects that have been commissioned by various organizations, including advertisers, PR agencies, and charities.

There are many sizes of agencies, with a range from two to hundreds of employees. They offer general or specialist consultancy.

There are also opportunities for the client-side where market researchers can work in commercial and industrial organizations such as pharmaceutical, retail, and manufacturing companies as well as advertising agencies or charities. These roles may include the coordination of research for the company and assisting with the development of marketing strategies.

Market researchers are also employed by government departments and research institutions.

Market Research Analyst Salary Scale

The average salary for market research analysts in the USA is $60,000 per year or $30.77 per hour. Entry-level positions start at $43,896 annually, while more experienced workers can earn up to $90,000.

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Home » Employer Resources » Hiring Tips » Research Analyst Job Description

Research Analyst Job Description [with Must-Have Elements]

Every successful organization relies on the expertise of a research analyst to drive informed, data-driven decisions. By harnessing their proficiency in conducting thorough research, analyzing data, and delivering valuable insights, you pave the way for strategic decision-making based on solid evidence. This approach not only enhances your understanding of customers, growth prospects, and competitors but also empowers you to make well-informed choices that fuel profitability and expansion.  The job role of a Research analyst plays a pivotal role in shaping your organization’s trajectory, so it is imperative to recruit a candidate who possesses the requisite skills and competence. Dive into this blog to unravel the art of crafting a compelling research analyst job description to attract desired and cultural-fit candidates.

Table of Contents

Research Analyst Job Description: Key Elements 

Crafting a compelling research analyst job description requires incorporating six key elements. By following this structure, you’ll attract qualified and enthusiastic candidates who align with your company culture. Here’s a breakdown of these essential elements:

1. Company Overview

In this section, introduce your company and create a compelling narrative that will captivate candidates who share your values and aspirations. You can achieve this by providing details about company values, culture, mission, and work environment. 

ABC is a young and vibrant startup passionate about specialty coffee. We source the world’s finest beans, ethically traded and bursting with unique flavor profiles, before roasting them to perfection in small batches. Our mission is to break away from the bitter brew of the ordinary and introduce you to an extraordinary coffee experience. 

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2. Research Analyst Job Overview

This section provides brief details about the job role of the research analyst. Here, talk about the key roles and responsibilities of research analysts. Additionally, you mention the job profile you are offering and the location, to provide comprehensive information. This allows the candidate to build a clear understanding of what the job role entails and read further if it interests them. 

Job Profile: Research Analyst

Location: Chennai

Job Overview:

ABC seeks a Research Analyst to analyze data and inform strategic decisions across our entire coffee experience. This includes sourcing, roasting, marketing, and customer satisfaction. You’ll help us understand market trends, identify new customer segments, and ultimately, deliver exceptional coffee, in every cup.

3. Job Responsibilities of Research Analyst

Next, list all the research analyst job duties. This comprehensive list facilitates the candidate to understand what a day in the job role of a research analyst looks like. Additionally, it enables you to set clear expectations for potential candidates and attract candidates who know how to handle these tasks and duties. 

Responsibilities: 

  • Conduct research to identify emerging trends.
  • Analyze supplier data to ensure ethical sourcing, optimal quality, and fair trade practices.
  • Evaluate the products and how we can create unique products. 
  • Analyze market research to identify consumer preferences, emerging trends, and competitor strategies. 
  • Develop customer segmentation strategies, craft targeted marketing campaigns, and measure their effectiveness.
  • Analyze customer feedback data to identify areas for improvement across all touchpoints.
  • Recommend data-driven solutions to enhance customer satisfaction and brand loyalty.
  • Research and analyze the competitive landscape, identifying market trends, competitor strengths and weaknesses, and potential new market opportunities.
  • Analyze market data, production costs, and customer behavior to develop optimal pricing strategies and revenue growth initiatives.

4. Research Analyst Job Requirements

This section discusses the research analyst’s skills and qualifications, enabling them to successfully fulfill their duties. Providing an exhaustive list of skills facilitates you to attract qualified and competent candidates, ultimately reducing hiring time. In this section, ensure that you include technical and soft skills essential for this position. 

Required Skills: 

  • Strong analytical skills with proficiency in data analysis tools and software (e.g., Excel , SPSS, Tableau).
  • Excellent written and verbal communication skills with the ability to present complex data insights clearly and concisely.
  • Ability to manage multiple projects simultaneously and meet deadlines in a fast-paced environment.
  • Strong attention to detail and a commitment to accuracy.Knowledge of market research methodologies and best practices.
  • Experience with customer relationship management (CRM) software.Proven ability to develop and implement data-driven recommendations.

Preferred Qualifications:

  • Bachelor’s degree in Business Administration, Marketing, Statistics, or a related field.
  • Minimum 2 years of experience in research analysis, preferably within the consumer goods industry.

5. CTC, Benefits, and Work Schedule  

Offering competitive CTC packages and supplemental benefits can be an effective strategy for attracting job applicants. Additionally, providing benefits, such as flexible working hours and work-from-home facilities, can prove beneficial. 

Offered CTC: ₹5 LPA – ₹6 LPA

  • House rent allowance
  • Travel allowance 
  • Health and life insurance 
  • Flexible working hours 
  • Paid menstrual leaves 

Work Schedule: 10:00 am to 7:00 pm (Monday to Friday) 

6. Call-to-Action (CTA)

Conclude the research analyst job description with a CTA. Provide a link to the job portal, company website, or email address, where applicants can apply by sharing their resumes and cover letters. You can also ask for additional information, documents, or requirements as per your needs. 

Are you a research enthusiast with a knack for turning data into insights that drive informed decisions? We encourage you to apply by submitting your resume and cover letter to [email protected]. In your cover letter, tell us why you’re passionate about research and what excites you about the prospect of joining our team.

Research Analyst Job Description Sample 

Here’s a research analyst job description example. You can utilize this sample to write a job description ideal for your organization as per your requirements. 

For a strong market presence and consumer satisfaction, in-depth and data-driven research becomes essential. A research analyst plays a significant role in your organization by conducting such tasks, enabling you to make informed decisions. A detailed job description can come in handy when finding a suitable candidate. The points discussed in this blog will help you craft an ideal research analyst job description and find a skilled and cultural-fit candidate. 

Begin your hiring journey with Internshala and hire talent among the 21+ million skilled job seekers. Also, check out our blog on how to hire an employee to build a robust hiring strategy. 

Answer: The skills required for a research analyst include data analysis, statistical modeling, market research, and trend forecasting. They should also have strong analytical skills, attention to detail, and the ability to translate data into actionable insights. Excellent business communication skills are also essential for presenting findings to diverse audiences.

Answer: A research analyst typically requires a Bachelor’s degree in Business Administration, Marketing, Economics, or a related field. A Master’s degree is preferred. Proficiency in statistical analysis software, database query languages, such as SQL , and data visualization tools like Tableau is essential for this role.

Answer: Salary expectations of a research analyst can vary depending on factors, such as experience, location, and industry. In India, the average salary for a research analyst is around ₹4.8 LPA, with the potential to go as high as ₹9.7 LPA.

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