what does an market research analyst do

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What does a market research analyst do.

Market research is a crucial aspect of modern business that helps companies understand their customers and potential customers. Professionals such as market research analysts use data gathered through surveys, focus groups, and customer purchasing histories to gain insights into a company’s target audience and how to cater to that audience’s needs. 

Market research analysts use their understanding of the customer mindset and data analysis to help companies reach their target audience. Their work is vital to the success of any product or service.

Anyone interested in a career that blends psychology and marketing should consider learning more about what a market research analyst does and how earning a bachelor’s degree can help aspiring analysts reach their career goals.

Market Research Analyst Job Description

Market research analysts help companies uncover trends in the market so that their marketing strategies may be more effective. They do research to learn what customers in different demographic groups are looking for in a particular product or service and what would make a marketing campaign successful with a specific audience. They then use software models to analyze the collected data and report their findings to marketing and sales departments to help them create data-driven strategies.

Market research analysts also gather data on their company’s competitors to learn where and how they’re succeeding or failing, incorporating these findings into their marketing recommendations. 

Based on their findings and their in-depth understanding of the customer base, market research analysts’ recommendations can range from how a product should be advertised to what its price should be. Their work requires an informed interpretation of data alongside an understanding of customer psychology to predict what type of campaign will work best to achieve the company’s goals.

Market Research Analyst Job Environment

Market research is used in nearly every industry to identify what customers want from a product or service. Typical employers of market research analysts include businesses, educational institutions, and government agencies. They usually work in office settings, as most of what a market research analyst does involves using computers to analyze data and performing research. However, they may need to travel to conduct interviews or meet with focus groups.

Market Research Analyst Skills

Market research analysts need to have a firm grasp of marketing principles and customer behavior, as these skills directly relate to developing marketing strategies. Additionally, as they need to communicate their findings to other departments, they should be skilled at relaying essential information to project stakeholders. 

Here are the key skills and competencies that aspiring market research analysts need to develop:

• Research skills
• Data analysis proficiency
• Marketing knowledge
• Customer psychology knowledge
• Communication skills
• Attention to detail
• Organizational skills
• Computer and software knowledge

How to Become a Market Research Analyst

Companies typically look for market research analysts with an established background in the field. The right foundational education and experience can help applicants stand out.

Most companies require candidates for marketing research positions to have a minimum of a bachelor’s degree, preferably in business, communications, or one of the social sciences, such as psychology . Psychology courses can help students learn about customer behavior and help them understand how to put purchasing habits and decisions in context. Courses that focus on interpreting research are also useful for aspiring analysts.

A bachelor’s degree is also a key requirement for graduate degree programs, which may be required for leadership positions.

Companies hiring market research analysts look for professionals with a proven track record in delivering successful strategies and big data analysis, and applicants may need to build up their resumes before becoming eligible for a position. Internships and entry-level roles such as market research assistant or data analyst can help candidates gain professional experience.

Market Research Analyst Salary and Job Outlook

According to the U.S. Bureau of Labor Statistics (BLS), the median annual market research analyst salary was $74,680 in 2023. Individuals’ salaries may be affected by factors such as their education, experience level, industry, and location.

The BLS projects 13% job growth for market research analysts between 2022 and 2032, significantly higher than the 3% average projected for all occupations. As companies increasingly rely on the power of customer data to provide insight into market trends, the job market for analysts will remain strong.

Take Your Next Career Step With Wilson College Online

The right education is essential to establishing the knowledge and skills core to what a market research analyst does. For those looking for a career that combines customer psychology and marketing, consider Wilson College Online’s Bachelor of Arts in Psychology degree program . 

The program is designed to help students gain a firm understanding of human behavior and decision-making, which are key to success as a market research analyst or in another career. Additionally, the program teaches students how to interpret research and apply their findings in a range of different industries.

Take control of your future with Wilson College Online.

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What does a market research analyst do?

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What is a Market Research Analyst?

A market research analyst specializes in studying market conditions to identify potential sales opportunities for a product or service. They collect and analyze data on consumers' preferences, buying habits, and economic trends to help companies make informed decisions about their products and marketing strategies.

Market research analysts employ a variety of techniques, including surveys, interviews, focus groups, and statistical analysis, to gather relevant data. By evaluating market trends and consumer behavior, they provide valuable insights to businesses, enabling them to understand their target audience better and anticipate changes in demand. These professionals play an important role in shaping marketing campaigns, product development, and overall business strategies, ensuring that companies stay competitive in the market.

What does a Market Research Analyst do?

Duties and Responsibilities Market research analysts play a vital role in helping companies understand market trends, consumer behavior, and competitive landscapes. Their duties and responsibilities encompass a wide range of tasks aimed at gathering and analyzing data to provide actionable insights for strategic decision-making. Here are the key duties and responsibilities of a market research analyst:

• Data Collection: Market research analysts collect data through various methods such as surveys, interviews, questionnaires, and focus groups. They may also use tools to gather data from social media, online platforms, and public records.
• Data Analysis: Analysts use statistical software and techniques to analyze collected data. They interpret numerical data and transform it into meaningful insights, identifying patterns, trends, and correlations.
• Market Trends Analysis: Analysts study market trends, including consumer preferences, buying behaviors, and economic indicators. They assess the potential demand for products or services, helping businesses anticipate market changes.
• Competitor Analysis: Market research analysts analyze competitors' strategies, products, and market positioning. They identify strengths and weaknesses, providing companies with a competitive advantage by understanding the market landscape.
• Consumer Behavior Research: Analysts delve into consumer motivations, perceptions, and preferences. They evaluate factors influencing purchasing decisions, allowing businesses to tailor their products and marketing strategies to target audiences effectively.
• Report Generation: Analysts prepare detailed reports and presentations summarizing research findings. These reports often include visualizations such as charts and graphs to communicate complex data in a clear and understandable manner.
• Strategic Recommendations: Based on their analyses, market research analysts provide strategic recommendations to businesses. They offer insights on product development, pricing strategies, marketing campaigns, and market entry or expansion plans.
• Client Consultation: In consultancy roles, market research analysts engage with clients to understand their research needs. They design research methodologies, present findings, and offer actionable insights tailored to specific client objectives.
• Industry Analysis: Analysts assess broader industry trends, regulations, and technological advancements. They evaluate how these factors impact the market and provide industry-specific insights to businesses operating within that sector.

Types of Market Research Analysts Market research analysts can specialize in various fields and industries, each requiring unique skills and expertise. Here are some common types of market research analysts based on their areas of specialization:

• Consumer Market Research Analysts: These analysts focus on understanding consumer behavior, preferences, and buying patterns. They conduct surveys, interviews, and observational studies to gather insights into consumers' attitudes toward products and services.
• Product Market Research Analysts: Product-focused analysts research specific products or services to assess market demand, pricing strategies, and potential improvements. They analyze existing products, evaluate competitors, and identify opportunities for product enhancements.
• Advertising and Marketing Research Analysts: Analysts in this category study the effectiveness of advertising and marketing campaigns. They assess consumer responses to advertisements, analyze market trends, and provide recommendations for optimizing marketing strategies.
• Social and Opinion Research Analysts: These analysts focus on public opinion and social issues. They conduct surveys and polls to gather data on public attitudes, political preferences, social behaviors, and cultural trends. Their findings are often used by governments, nonprofits, and advocacy groups.
• Financial Market Research Analysts: Financial analysts specializing in market research assess financial markets, stocks, bonds, commodities, and investment opportunities. They analyze market trends, economic indicators, and company financial statements to provide insights to investors and financial institutions.
• Healthcare Market Research Analysts: Analysts in the healthcare sector study market trends related to pharmaceuticals, medical devices, healthcare services, and patient preferences. They analyze healthcare data to assist pharmaceutical companies, hospitals, and healthcare providers in making strategic decisions.
• Technology Market Research Analysts: Technology analysts research trends in the technology industry, including software, hardware, and emerging technologies. They assess consumer demand, competitor products, and industry innovations to provide insights for technology companies.
• International Market Research Analysts: Analysts specializing in international markets assess global market trends, cultural differences, and regulatory environments. They provide insights to companies looking to expand their operations internationally, helping them adapt their products and marketing strategies to different regions.
• Environmental Market Research Analysts: These analysts study market trends related to environmental issues, sustainable products, and green technologies. They assess consumer attitudes toward eco-friendly products and help businesses develop environmentally conscious strategies.
• Real Estate Market Research Analysts: Analysts in this field study real estate market trends, property values, and consumer preferences. They analyze data related to housing markets, commercial real estate, and property development to assist real estate agencies, developers, and investors.

Are you suited to be a market research analyst?

Market research analysts have distinct personalities . They tend to be investigative individuals, which means they’re intellectual, introspective, and inquisitive. They are curious, methodical, rational, analytical, and logical. Some of them are also enterprising, meaning they’re adventurous, ambitious, assertive, extroverted, energetic, enthusiastic, confident, and optimistic.

Does this sound like you? Take our free career test to find out if market research analyst is one of your top career matches.

What is the workplace of a Market Research Analyst like?

The workplace of a market research analyst is diverse and can vary based on the industry, the specific focus of research, and the type of organization they work for. Market research analysts are employed in various sectors, including market research firms, advertising agencies, consulting companies, corporate organizations, government agencies, and non-profit organizations. Here's an overview of what the workplace environment for a market research analyst might entail:

Office Environment: Market research analysts typically spend a significant amount of time in office settings, especially during tasks related to data analysis, report generation, and client consultations. In these environments, they work with computers, utilizing specialized software for data analysis, statistical modeling, and creating visually appealing presentations. Offices are often equipped with the necessary tools and technology to conduct research, such as survey software, databases, and communication systems.

Client Meetings and Consultations: Market research analysts frequently engage with clients to understand their research needs and present findings. These meetings can occur both in the analyst's office and at the client's location. During these consultations, analysts discuss research methodologies, data collection strategies, and the interpretation of results. Effective communication skills are crucial as analysts need to convey complex data and insights in a clear and understandable manner.

Fieldwork and Data Collection: Depending on the nature of the research project, market research analysts might conduct fieldwork to gather primary data. This could involve organizing focus group discussions, conducting surveys, or interviewing respondents. Fieldwork allows analysts to interact directly with consumers or participants, providing valuable qualitative insights that complement quantitative data.

Collaboration and Teamwork: Market research projects often require collaboration among a team of researchers, data analysts, and sometimes specialists from other disciplines. Analysts work closely with colleagues to design research studies, collect and analyze data, and develop comprehensive reports. Teamwork is essential for brainstorming ideas, validating research methodologies, and ensuring the accuracy of findings.

Remote Work and Flexibility: In recent years, the workplace of market research analysts has increasingly embraced remote work options, allowing professionals to work from home or other locations. This flexibility is particularly beneficial during data analysis and report writing stages, where analysts can focus on tasks without the distractions of a busy office environment. Remote work also enables collaboration through virtual meetings and communication tools.

Travel: For market research analysts involved in projects that require on-site data collection or client meetings, travel might be a component of their work. Analysts may need to visit focus group locations, attend industry conferences, or meet with clients in different cities or countries.

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Market Research Analyst Career

What is a market research analyst .

Positioned at the crossroads of psychology, data science, and advertising, market research analysis involves leveraging qualitative and quantitative information to enhance marketing strategies. Market research analysts and marketing specialists provide data-informed marketing guidance to companies. They’re skilled researchers who scour web analytics, sales records, social media platforms, and customer feedback to collect data and uncover valuable insights. Market research analysts translate disjointed, complex information into cohesive action plans that marketing teams use to expand their audience, increase sales, and better meet customers’ needs. If you’re an analytical thinker with an interest in marketing, the market research analyst career may be right for you. 

RESPONSIBILITIES

What Does a Market Research Analyst Do? 

The day in the life of a market research analyst involves a mixture of data collection, statistical analysis, reporting, presentations, and cross-team collaboration. While job duties can vary depending on the industry and marketing goals, this dynamic career typically involves the following responsibilities: 

• Developing data-collection tools such as customer satisfaction surveys and questionnaires.
• Interviewing customers and conducting focus groups to understand the target audience’s opinions and perceptions of the brand. 
• Collecting and analyzing data from web analytics tools, social media interactions, online reviews, sales statistics, and customer relationship management (CRM) systems. 
• Estimating potential sales. 
• Visualizing and summarizing numerical information using graphs, charts, tables, and infographics.
• Developing action plans detailing the suggested marketing goals and strategies. 
• Recommending new marketing tactics to company leaders.
• Evaluating sales data and analytics to determine the success of the company’s marketing initiatives.
• Investigating competitors’ products, services, systems, and advertising methods.
• Closely following emerging consumer trends, market fluctuations, and industry dynamics.

EDUCATION & BEST DEGREES

How do i become a market research analyst .

The market research field attracts individuals of diverse educational backgrounds. If you’re interested in this multifaceted and evolving profession, consider earning a degree in marketing, business, or psychology. While each educational route provides a unique skill set and knowledge base, they can all establish the foundation for a thriving market research analyst career. Professionals with a B.S. in Psychology , for example, use their understanding of human behavior to identify customers’ needs and devise persuasive marketing strategies. Psychology programs emphasize quantitative and qualitative data collection and analysis—abilities that are crucial for a research analyst job. 

A  B.S. in Business Administration–Marketing  or  B.S. in Business Administration–Business Management  can also set the stage for a prosperous market research analyst career. If you want to qualify for advanced positions with greater responsibilities and higher salaries, consider earning a master’s degree. An  M.S. in Marketing  can provide the in-depth knowledge needed to excel in this competitive job market. Once you’ve earned your degree, you may want to acquire one or more professional certifications. Certifications can further enhance your legitimacy as a research analyst and show employers that you have the expertise needed to succeed in this challenging career. WGU offers a self-directed, competency-based  Business Leadership Certificate  to help you develop your leadership abilities. The certificate curriculum is deliberately chosen to align with the competencies employers seek in job candidates.

Best Degrees for a Market Research Analyst

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An online psychology program for students who want to make a difference in their life, and the lives of others.

• Time:  95% of students finish similar programs in less than 4 years.
• Tuition:  $4,085 per 6-month term.
• Courses:  34 total courses in this program.

Skills for your résumé included in this program: 

• Social psychology
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• Mental health awareness
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This degree allows you to gain valuable knowledge and experience in the field of psychology and can prepare you for additional certifications or careers.

Hone your business acumen and garner added respect:...

Hone your business acumen and garner added respect:

• Time: 61% of graduates finish within 19 months
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Skills for your résumé this program will teach you include: 

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This online degree program is an excellent choice for kick-starting your organizational management career.

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For those who want to lead brands and steer consumer markets:

• Time: 60% of graduates finish within 19 months.
• Tuition:  $3,755 per 6-month term.
• Courses: 41 total courses in this program.

Skills for your résumé you will learn in this program include: 

• Communication
• Project Management
• Product Management

Marketing is a creative and exciting field—and one where an undergraduate degree will open better opportunities.

Two online marketing master's degree options with a focus on either...

Two online marketing master's degree options with a focus on either digital marketing or marketing analytics.

• Time:  61% of graduates finish WGU master's programs in 18 months
• Tuition:  $4,755 per 6-month term
• Courses:  10 total courses in this program
• Specialization:  Students choose from two specializations to focus their marketing studies on digital marketing or marketing analytics

Skills for your résumé that you will learn in this program:

• Strategic Planning
• Digital Marketing Analytics
• Presentations
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A marketing master's degree will help you prepare for a wide range of exciting marketing careers.

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An online UX Design program designed for students who want to become business-savvy designers that can generate best-in-class, customer-centric products and services.

• Time:  60% of students finish similar programs in 19 months.
• Courses:  38 total courses in this program

Skills for your résumé you will learn in this program:

• Wireframing and Prototyping
• Artificial Intelligence
• Accessible Design
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• UI/UX Research
• User Testing
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This degree prepares you with relevant industry skills and experience that will help you move forward in your career.

How Much Does a Market Research Analyst Make? 

According to the U.S. Bureau of Labor Statistics (BLS), The median market research analyst salary is $68,230 per year . Annual wages range from less than $38,280 to more than $131,850. Salaries vary based on location, employer, and industry. 

What Is the Job Outlook for a Market Research Analyst? 

Consumers have more options than ever when choosing the companies they patronize. Businesses rely on market research analysts to provide data-driven insights to help them develop effective marketing campaigns and stand out from the competition. The BLS estimates that the need for market research analysts from 2022 to 2032 will grow by 13% . This favorable job outlook is primarily driven by the increasing use of data-informed marketing across industries. During this period, there will be an estimated 94,600 openings for market research analysts each year. 

What Skills Does a Market Research Analyst Need? 

Because it’s a multifaceted profession, market research analyst jobs require proficiency in multiple domains. You’ll need the following skills:

• Data collection and analysis. Through systematic data analysis, market research analysts pinpoint the marketing strategies with the greatest potential for advancing the business. 
• Research expertise . Navigating vast data sets isn’t easy, and marketing professionals must harness statistical knowledge, analytical thinking, and attention to detail to identify patterns and extract meaningful insights. 
• Communication . Because they explain complex marketing recommendations to stakeholders, market research analysts need a mix of strong verbal and written communication skills. 
• Strategic thinking. Strategic thinking allows market research analysts to collect data, account for relevant factors, prioritize information, and develop marketing initiatives that are practical, financially worthwhile, and aligned with the business’s broader goals.
• Continuous learning. By embracing a growth mindset, research analysts can stay abreast of market conditions and economic trends influencing their marketing strategies.
• Collaboration. Because the job intersects with so many other business sectors, teamwork is vital to being a market research analyst. 
• Technological proficiency. Market research analysts need to be proficient in various digital tools and technologies. They frequently use data from CRM systems, Google Analytics, HubSpot, SEMrush, and internal databases to inform their marketing approaches. 
• Project management. It’s common for marketing specialists to manage numerous initiatives simultaneously, so project management skills are essential. 
• Creativity. Market research analysts use their creative talent to design innovative research methodologies and marketing tactics. 
• Brand management. Ensuring that marketing tactics improve the target audience’s perception of the brand requires marketing know-how, ingenuity, and adaptability. 
• Social media marketing. Proficiency in content creation, customer relationship management, and data interpretation allows market research analysts to develop successful social media campaigns.

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How to become a market research analyst

Marketing is an essential aspect of any organization. It serves to increase awareness, sell products or services and drive interest. Without marketing, a business may have a hard time surviving among the competition.

This field involves complex and detailed sets of tasks that rely heavily on data. Every great marketing department and their resulting strategies rely on exceptional market research analysts to collect, compile and communicate data-driven insights with the rest of the team. These insights assist everyone involved to carry out more effective and efficient marketing strategies.

What does a market research analyst do?

Market research analysts work closely with creative, advertising, sales and executive leadership to manage and analyze detailed information on an organization’s industry, competitors, consumers and products.

The role of a market research analyst is integral to almost every business. They assemble critical data about market conditions and consumers to help businesses market products and services in a way that resonates with specific consumer audiences.

Daily activities for market research analysts revolve around aggregating data to help their teams build successful marketing strategies. This can include:

Analyzing consumer data and creating digestible graphs, charts and other communications material to share insights with team members.

• Consulting on marketing strategies and initiatives based on the data they’ve collected.
• Evaluating competitors to understand their marketing efforts, consumers and pricing practices.
• Monitoring the performance of marketing programs to guide current and future strategies.
• Researching their organization’s market share, consumer sentiment and other marketplace data.

How does a market research analyst gather data?

Market research analysts use a variety of methods such as focus groups, surveys and public poll opinions to gather data and consumer insights. Some of these consumer and market insights include:

• Attitudes towards competitors.
• Demographics.
• Marketing trends.
• Purchasing behavior.

With these insights, market research analysts answer questions about consumer behavior and product preferences, as well as recommend solutions. Some of these questions may include:

• Who are our customers?
• What do they want?
• Why do they want it?
• How much are they willing to pay for it?

Determining answers to these questions ultimately informs marketing analysts of how they’ll apply data to marketing initiatives, thus improving a business’s profitability and customer loyalty.

Market research analyst salary and career outlook

According to the U.S. Bureau of Labor Statistics (BLS), the median wage for market research analysts was $63,920 per year in 2021.

The BLS also reported that growth in this profession is projected at an above-average rate of 19% from 2021 to 2031 — much faster than the average. This is likely the result of companies continuing to focus on marketing initiatives and other efforts to better understand their consumers.

A market research analyst is just one role in the much larger field of marketing and analytics. Opportunities for career advancement are possible with the appropriate knowledge and work experience. The most direct promotion involves moving into a market research manager position. This is similar to the role of an analyst, except in a managerial capacity with a team of staff who report directly to them.

Additionally, there are market research analysts who have reported promotions into positions such as marketing managers, marketing directors, vice presidents of marketing and other senior-level roles. While many professionals in this career path have undergraduate degrees in marketing, communications or a related field of study, having a graduate degree may increase your hiring potential when applying for such high-level promotions.

ASU Online’s exploratory degree tracks: An option for undecided students

The difference between market research analysts and business analysts.

Market research analysts and business analysts are often conflated; however, they’re different specializations. While market research analysts fall under the umbrella of business analysts, each role requires unique tactics and strategies, as well as separate areas of focus within a business.

Overall, market research analysts keep a pulse on market trends and work with concepts such as shifting consumer behavior and buying patterns. In contrast, business analysts help identify potential gaps in an operation and offer suggestions to improve efficiency and the overall strength of the business — which often involves marketing, but isn’t exclusive to the department.

Key types of research used by market research analysts

To stay on top of behavior shifts and to collect robust, useful data, market research analysts use four main types of research methods.

• Primary research

This type of research is one that’s conducted directly by you. It’s most commonly seen in the form of interviews, focus groups and surveys.

• Secondary research

Secondary research includes data that’s collected from trusted, existing sources that have conducted their own primary research, such as government statistics, publications, websites and more.

• Qualitative research

Qualitative research includes data that’s analyzed primarily by summarizing, categorizing and interpreting different ideas.

• Quantitative research 

Quantitative research includes data that’s collected by means of math and statistical analysis and often employs strategies such as testing and measurement.

If you’re interested in a career in this field, becoming familiar with these types of research and knowing when and where to use them is critical.

The skills needed to become a market research analyst

A combination of relevant work experience and the right education can aid you in obtaining a market research analyst role. While most hiring managers require a bachelor's degree for this position, a master’s degree may be preferred. This is due to the increased focus on data analysis, information technology and decision-making that’s offered with master’s programs.

The right set of skills is important for any prospective market research analyst. At the forefront of those skills is an advanced knowledge of computer science and data entry tools. Market research analysts are expected to use technology to gather, analyze and disseminate data. They are also expected to share that data in digestible graphs, charts and communications that are understandable by all employees within a company, not just those already well-versed in marketing and analytics.

Key skills for market research analysts include:

Professionals must be able to identify a problem, use data to understand that problem and then present multiple solutions. Strong analytical and critical-thinking skills are a must.

• Decision making

Analysts must use data to decide which marketing efforts will be most effective. Their choices will have a substantial impact on business operations and profitability.

Spoken and written communication Working with many different departments and teams requires effective communication skills that appeal to a variety of individuals at all levels within a company. This is especially true when sharing complicated data and presenting it to other departments and leaders.

• Strong attention to detail

The collection, analysis and reporting of data must be precise. Having strong attention to detail is essential for market research analysts to ensure that gathered insights are accurate and representative of the target consumer.

Market research analysts should also infuse their work with creativity to bring innovative and imaginative ideas to life through their data analysis. This is accomplished by staying up to date on industry trends and adopting a continuous learning approach to marketing best practices.

Earn your analytics degree from Arizona State University

Becoming a market research analyst requires a solid foundation in both technical and professional skills. For those interested in a career in market research analysis, earning an undergraduate degree in a related field is a great starting point. ASU Online offers many undergraduate degrees that are applicable, such as:

• Bachelor of Science in marketing
• Bachelor of Science in communication
• Bachelor of Science in business data analytics

For those interested in accelerating their professional career, ASU Online also offers the Master of Science in business analytics . This program’s curriculum covers subjects such as data mining and applied analytics while preparing students with the knowledge and skills needed to excel in a market research role.

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What Does a Market Research Analyst Do?

Understanding the Numbers When reviewing job growth and salary information, it’s important to remember that actual numbers can vary due to many different factors — like years of experience in the role, industry of employment, geographic location, worker skill and economic conditions. Cited projections do not guarantee actual salary or job growth.

Big data is big business.

That's why there's a need for employees who can work with data. And there are plenty of job titles in the workforce for people who take on this work. One of them? Market research analysts.

So who are these people?

White teaches at the graduate level at SNHU, guiding students through Advanced Marketing Research and Analytics as well as their capstone course. Before he made the shift to higher education, he was director of operations — which involved a considerable amount of market needs assessment research — for one of the largest fast-food restaurant chains in the country.

In studying the data, White says, you attempt to uncover customer needs and wants in an attempt to understand the products or services that the target market wants.

What Does a Market Research Analyst Do on a Daily Basis? 

"The market research analyst is responsible for monitoring and forecasting various trends in order to gauge the effectiveness of marketing campaigns," said Dr. Lester Wills , an SNHU adjunct instructor.

Wills previously managed the marketing divisions of several multinational corporations in Australia, where he and his teams conducted market research as an integral part of marketing programs. He also has led several research programs and headed up a task force for the main financial services industry body in Australia. Today, Wills teaches several graduate-level marketing courses at SNHU, including Market Research, Advanced Market Research and Analytics, and Ethical and Legal Issues in Marketing. 

So what exactly can you expect in an analyst role?

The median market research analyst salary in May 2022 was $68,230 , according to the BLS: That's 47% more than the median wages for all workers across the U.S.*

(It's good to note that the BLS states that the highest 10% received more than $131,850 as a median salary in 2022 — earning 6 figures is possible in this field.)*

And 3 industries each had median salaries above the median for all market research analysts, according to the BLS:

• Management of companies and enterprises*
• Information*
• Finance and insurance*

What Qualifications Do You Need to Be a Market Analyst?

There's one question that you might have when considering the career: "Do market research analysts use math?" 

Great news if you're not a fan:

"Good math skills are certainly helpful, because the market research analyst is heavily involved in statistical analysis of data," White said. "However, today’s modern statistical software performs all of the mathematical calculations for you."

Wills agreed.

"Given there are both quantitative and qualitative aspects  to the role, a mix of skills is essential," he said. "You do not need to be good at math to be able to conduct qualitative research. However, some basic math skills are required for the quantitative research."

If a number of skills are needed to analyze market research, what should you study? 

Fortunately, there are a number of college degree programs that can help you achieve your goal. Between White and Wills, their suggestions for bachelor's degrees  and focused courses include:

• Business Administration

An undergraduate degree can help you get the job, though you'll want to note that some employers may require a master's degree, Wills said.

Plus, BLS states that market research analysts are in demand — so when you graduate, you could see more openings here than in a number of other fields.*

According to the BLS, over 115,000 new jobs are projected to be added to the workforce through 2032.* (That's a 13% increase in roles, over 4 times the average growth rate for all occupations!)*

White confirms that analysts are sought-after roles: "Companies continue to need knowledge regarding customer behavior in order to gain or maintain their competitive advantage in the marketplace," he said.

Find Your Program

What is the difference between market research and market analysis.

In your job search, you may see "market research" and "market analysis" as separate functions. And that's because they are.

"Market research primarily focuses on data directly from the market and customers," Wills said. "It looks to utilize consumer behavior and economic trends to confirm business ideas. It is focused on primary research."

It can work hand in hand with the analysis tasks.

"Market analysis is a form of secondary research and tends to be focused on a particular sector or niche in the market to try and answer specific questions," Wills said. "The research can be used to gain an understanding of how particular products and services are likely to perform in a certain environment."

Is a Market Research Analyst a Good Job?

Choosing to become a market research analyst can be an exciting decision — and one that can allow you to have an impact in your company.

"You have the opportunity to interface directly with consumers in the marketplace, collect and analyze data," White said. "And you get to report the results of your data and recommendations to marketing decision-makers within an organization."

Wills shared this view.

"If you love trying to understand consumer behavior and/or predict trends in the market, it can be a great role, since an analyst will help companies make important decisions," he said.

A degree can change your life. Find the SNHU business program  that can best help you meet your goals.

*Cited job growth projections may not reflect local and/or short-term economic or job conditions and do not guarantee actual job growth. Actual salaries and/or earning potential may be the result of a combination of factors including, but not limited to: years of experience, industry of employment, geographic location, and worker skill.

Deidre Ashe was 9 years old when she launched her professional writing career. While spending a day at work with her dad, she penned her first book, illustrated it and sent it off to a publishing company – after finding the address on the copyright page of one of her paperbacks. While the story never made it to the shelves of libraries, the editors wrote back, encouraging her to continue pursuing her writing passion. (Yes, she still has that letter.)

After earning a bachelor’s in journalism, Ashe spent a decade working in the media industry. She then transitioned into marketing, later getting her MA in Communication from Southern New Hampshire University in 2018.

Ashe serves as senior copy director at SNHU. She and her family live in New Hampshire. Connect with Ashe on LinkedIn .

Explore more content like this article

What is Business Administration?

What Are Data Analysis Skills? Quantitative and Qualitative Examples

Is a Master's in Finance Worth It?

About southern new hampshire university.

SNHU is a nonprofit, accredited university with a mission to make high-quality education more accessible and affordable for everyone.

Founded in 1932, and online since 1995, we’ve helped countless students reach their goals with flexible, career-focused programs . Our 300-acre campus in Manchester, NH is home to over 3,000 students, and we serve over 135,000 students online. Visit our about SNHU  page to learn more about our mission, accreditations, leadership team, national recognitions and awards.

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

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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.

Here's the estimated annual earning for similar occupations.

• Cost estimator : $66,610
• Economist : $108,350
• Public relations specialist : $62,810
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What is a Market Research Analyst?

Learn about the role of Market Research Analyst, what they do on a daily basis, and what it's like to be one.

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Start Your Market Research Analyst Career with Teal

Definition of a Market Research Analyst

What does a market research analyst do, key responsibilities of a market research analyst.

• Designing and executing market research studies, including surveys, focus groups, and interviews
• Collecting and analyzing quantitative and qualitative data from primary and secondary sources
• Identifying and monitoring market trends, consumer preferences, and competitive activities
• Conducting competitive analysis to assess the strengths, weaknesses, and positioning of competitors
• Developing and presenting comprehensive market research reports and data visualizations
• Collaborating with cross-functional teams, such as product development, marketing, and sales, to align research efforts with business objectives
• Recommending data-driven strategies and actionable insights to support decision-making processes
• Evaluating the effectiveness of marketing campaigns and product launches through post-launch analysis
• Identifying potential market opportunities and threats by analyzing industry trends and consumer behavior
• Staying up-to-date with the latest market research techniques, tools, and industry best practices
• Managing research projects, timelines, and budgets to ensure efficient and cost-effective execution
• Mentoring and training junior research analysts to enhance team capabilities and knowledge sharing

Day to Day Activities for Market Research Analyst at Different Levels

Daily responsibilities for entry level market research analysts.

• Conducting secondary research using online databases and industry reports
• Assisting with the design and execution of surveys and focus groups
• Performing data entry and cleaning tasks for research datasets
• Conducting basic statistical analysis and preparing data visualizations
• Supporting the development of research reports and presentations
• Assisting in the coordination of research projects with internal and external stakeholders

Daily Responsibilities for Mid Level Market Research Analysts

• Developing comprehensive research plans and methodologies
• Managing and mentoring junior research team members
• Conducting advanced statistical analysis and modeling techniques
• Collaborating with cross-functional teams to align research efforts with business objectives
• Presenting research findings and recommendations to stakeholders
• Overseeing the implementation of research insights into business strategies

Daily Responsibilities for Senior Market Research Analysts

• Developing and overseeing the implementation of comprehensive market research strategies
• Leading and mentoring large research teams across multiple specializations
• Collaborating with C-level executives to align research initiatives with business goals
• Identifying and evaluating new research methodologies and technologies
• Managing relationships with key partners, vendors, and industry experts
• Driving research innovation and best practices across the organization

Types of Market Research Analysts

Consumer behavior analysts, market segmentation analysts, competitive intelligence analysts, product research analysts, brand equity analysts, what's it like to be a market research analyst , work environment, working conditions, how hard is it to be a market research analyst, is a market research analyst a good career path, faqs about market research analysts, how do market research analysts collaborate with other teams within a company, what are some common challenges faced by market research analysts, what does the typical career progression look like for market research analysts.

How To Become a Market Research Analyst in 2024

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Daily Responsibilities of a Market Research Analyst

Introduction.

A market research analyst serves as a critical link between businesses and their target markets, playing an essential role in shaping business strategies and decisions. Their primary responsibility is to gather, analyze, and interpret data related to market trends, consumer behavior, and competitor activities. This information is indispensable for businesses, as it helps them understand the dynamics of the market and anticipate changes in consumer preferences. Without the insights provided by market research analysts, companies would struggle to make informed decisions, potentially leading to missed opportunities and financial losses. Market research is fundamental to business decision-making. It provides the necessary data to develop products that meet consumer needs, identify the right marketing strategies, and determine optimal pricing. By analyzing data, market research analysts help businesses pinpoint their target audience, understand what motivates consumer purchases, and recognize the factors influencing brand loyalty. These insights enable companies to craft strategies that resonate with consumers, ultimately driving sales and fostering growth. In addition to guiding product development and marketing strategies, market research plays a crucial role in risk management. By understanding market conditions and consumer behavior, companies can make more calculated decisions, reducing the risk of launching unsuccessful products or investing in ineffective marketing campaigns.

Conducting Market Research

As a market research analyst, one of the key responsibilities is to conduct comprehensive market research to gather valuable data that can be used to make informed business decisions.

Collecting Data Through Surveys, Interviews, and Focus Groups

To start the research process, market research analysts often design surveys to gather information from a sample population. These surveys can be conducted online, via phone calls, or in person.

In addition to surveys, analysts may conduct interviews with industry experts, customers, or stakeholders to gain more in-depth insights. These interviews help to uncover specific nuances and preferences that may not be captured in surveys.

Furthermore, organizing focus groups is another method used by analysts to gather qualitative data. Focus groups involve a small group of participants discussing their opinions, perceptions, and attitudes towards a specific product or service.

Analyzing Data to Identify Market Trends and Consumer Preferences

Once the data is collected, market research analysts then proceed to analyze it thoroughly. This analysis involves identifying patterns, trends, and correlations in the data to draw meaningful conclusions.

Through data analysis, analysts can pinpoint market trends that may influence consumer behavior and purchase decisions. They can also identify consumer preferences, such as preferred features, pricing points, or brand perceptions.

By understanding market trends and consumer preferences, analysts can provide valuable insights to businesses on product development, marketing strategies, and overall business positioning in the market.

Basically, conducting market research is a critical aspect of a market research analyst’s daily responsibilities. By collecting data through surveys, interviews, and focus groups, and analyzing this data to identify market trends and consumer preferences, analysts play a crucial role in shaping business strategies and decisions.

Monitoring Competitors

Keeping track of competitors’ strategies and marketing campaigns.

A key responsibility of a market research analyst is tracking competitors’ strategies and marketing campaigns. Analysts monitor various channels, including social media, websites, and advertising. They collect data on competitors’ promotional tactics, pricing strategies, and product launches. This information helps analysts understand market dynamics and emerging trends within the industry. Analyzing competitors’ marketing campaigns provides valuable insights into effective messaging and target audiences. Analysts assess the success of these campaigns by examining engagement metrics, conversion rates, and customer feedback. This analysis allows analysts to identify what works and what doesn’t in competitors’ approaches. By staying informed about competitors, analysts can provide strategic recommendations to their organizations. Tracking competitors’ activities also involves attending industry events, webinars, and conferences. These venues allow analysts to network and gain insights into competitors’ latest initiatives. By interacting with industry peers, analysts gather qualitative data that complements their quantitative findings. This holistic view enables analysts to create comprehensive reports for internal stakeholders.

Identifying Strengths and Weaknesses to Gain a Competitive Edge

Identifying strengths and weaknesses is essential for market research analysts seeking a competitive edge. Analysts evaluate competitors’ product offerings, customer service, and brand reputation. This evaluation helps analysts pinpoint areas where their organization can outperform competitors. Using SWOT analysis is a common method for identifying strengths, weaknesses, opportunities, and threats. Analysts create detailed reports that summarize findings and recommend actions based on this analysis. They focus on leveraging strengths while addressing weaknesses to enhance market positioning. Analysts also conduct customer surveys and focus groups to gain insights into consumer perceptions. By understanding how customers view competitors, analysts can identify gaps in the market. This information is crucial for developing strategies that meet customer needs more effectively than competitors. Furthermore, analysts keep an eye on industry trends that may affect competitors. They analyze economic factors, regulatory changes, and technological advancements that could impact the competitive landscape. By staying ahead of these trends, analysts provide their organizations with timely insights to adjust their strategies accordingly.

Collaboration with cross-functional teams enhances the effectiveness of this analysis. Market research analysts work closely with marketing, sales, and product development teams. This collaboration ensures that insights gained from competitor analysis inform all aspects of the organization’s strategy. For example, marketing teams can tailor campaigns based on competitive insights, while product teams can enhance offerings based on identified weaknesses.

Creating Reports

Compiling research findings into comprehensive reports.

Market research analysts spend a significant portion of their day compiling research findings into comprehensive reports. They gather data from various sources, including surveys, interviews, and market trends. This data analysis helps them understand consumer behavior, preferences, and market dynamics. Analysts organize their findings to highlight key insights that drive strategic decisions. They utilize statistical tools and software to interpret data accurately and identify patterns. When compiling reports, analysts focus on clarity and precision. They ensure that their reports are well-structured and easy to understand. Each report typically includes an executive summary, methodology, findings, and conclusions. Analysts pay close attention to detail to ensure accuracy and relevance. They also use visual aids, such as graphs and charts, to present data effectively. These visuals help stakeholders quickly grasp complex information. Analysts must tailor their reports to the audience’s needs. They consider the specific interests and concerns of stakeholders when presenting their findings. This customization enhances the relevance and impact of the reports. After completing a report, analysts may also revise it based on feedback from team members or supervisors. Continuous improvement is key in delivering high-quality research reports.

Presenting Insights and Recommendations to Stakeholders

In addition to compiling reports, market research analysts regularly present insights and recommendations to stakeholders. Effective presentations are crucial for conveying findings in a compelling manner. Analysts prepare clear and concise presentations that summarize their research findings. They focus on the most relevant insights that align with stakeholders’ strategic goals. During presentations, analysts engage their audience by encouraging questions and discussions. They anticipate potential concerns and prepare responses to address them. This interactive approach fosters a collaborative atmosphere and helps build trust with stakeholders. Analysts use storytelling techniques to illustrate their insights and make data relatable. By connecting data to real-world scenarios, they enhance stakeholder understanding and buy-in. Analysts must also be adept at using presentation software and tools. They utilize these tools to create visually appealing slides that enhance their message. Well-designed slides with relevant visuals can captivate the audience and reinforce key points. Analysts practice their presentations to ensure smooth delivery and confidence during discussions. Feedback from stakeholders is invaluable for analysts. After presentations, they often gather feedback to refine their insights and recommendations further. This iterative process allows analysts to adjust their strategies and improve future presentations. Ultimately, effective communication of research findings is essential for influencing decision-making and driving business success.

Read: HR Specialist vs. HR Manager: Duties, Pay, and More

Developing Marketing Strategies

Collaborating with marketing team to develop targeted campaigns.

A market research analyst plays a crucial role in collaborating with the marketing team. This collaboration begins with understanding the campaign goals and objectives. Analysts gather relevant data to inform the development of targeted marketing campaigns. They analyze consumer behavior, preferences, and trends to help shape the campaign’s direction. By sharing insights, analysts help the marketing team tailor messages that resonate with specific audiences. Regular meetings with the marketing team facilitate effective communication and idea exchange. Analysts present findings from surveys, focus groups, and other research methods. This information helps the marketing team refine their strategies and improve targeting. Analysts also provide recommendations on the best channels to reach target audiences. By leveraging data-driven insights, the marketing team can allocate resources effectively and maximize impact. Collaboration extends beyond initial campaign planning. Market research analysts continuously monitor campaign performance and adjust strategies as needed. They track key performance indicators (KPIs) to evaluate campaign effectiveness. If certain tactics underperform, analysts recommend adjustments based on their research insights. This iterative process allows the marketing team to respond quickly to market dynamics and consumer feedback.

Utilizing Research Insights to Optimize Marketing Efforts

Utilizing research insights is essential for optimizing marketing efforts. Market research analysts collect and analyze data from various sources, including surveys and social media. This data provides a comprehensive view of consumer preferences and market trends. By identifying patterns and insights, analysts can guide marketing strategies effectively. Research insights help the marketing team understand what resonates with consumers. Analysts use segmentation techniques to divide audiences into distinct groups. This segmentation allows for more personalized marketing messages. Tailoring campaigns to specific demographics increases engagement and conversion rates. The marketing team can craft content that speaks directly to each segment’s needs and desires. Market research analysts also evaluate the competitive landscape. By analyzing competitors’ strategies, they provide insights into industry best practices. This information helps the marketing team identify gaps and opportunities in the market. Understanding competitor positioning enables the team to differentiate their offerings effectively. Additionally, analysts assess the performance of marketing campaigns post-launch. They measure the effectiveness of various channels and tactics. By analyzing this data, analysts identify successful strategies and areas for improvement. This continuous feedback loop ensures that marketing efforts evolve based on real-world results.

Read: The Role of HR in Employee Wellness and Benefits

Forecasting Sales Trends

Using data analysis to predict future market trends.

A market research analyst uses data analysis to predict future market trends effectively. They collect and interpret large sets of data from various sources. This data often includes consumer behavior, sales figures, and market conditions. Analysts utilize statistical tools and software to analyze this information, looking for patterns and insights. By identifying trends, they help businesses understand potential market shifts and consumer preferences. Analysts also conduct surveys and focus groups to gather qualitative data. This information complements quantitative data and provides a fuller picture of the market landscape. By synthesizing both types of data, analysts can create comprehensive reports that forecast future trends. These forecasts guide businesses in strategic planning, helping them stay ahead of competitors. Furthermore, market research analysts continuously monitor industry news and competitor activities. They track emerging technologies, changes in consumer behavior, and economic indicators. This ongoing research ensures that their predictions remain relevant and accurate. By staying informed, analysts can adjust their forecasts based on real-time developments, ensuring their insights are actionable.

Assisting in Decision-Making to Maximize Sales Opportunities

In addition to predicting market trends, market research analysts assist in decision-making to maximize sales opportunities. Their insights enable businesses to identify target markets and tailor their products accordingly. Analysts provide data-driven recommendations on pricing strategies, product features, and marketing campaigns. By understanding consumer preferences and behaviors, they help companies position their offerings effectively. Analysts also collaborate with marketing and sales teams to develop strategic initiatives. They share findings that inform promotional strategies and sales tactics, ensuring alignment with market demands. Their data analysis aids in identifying high-potential customer segments, helping businesses focus their efforts where they can achieve the most impact. Moreover, market research analysts evaluate the effectiveness of marketing campaigns. They assess metrics such as conversion rates, customer feedback, and sales performance. By analyzing these results, they can suggest improvements and optimize future campaigns. This continuous feedback loop allows businesses to adapt their strategies and maximize sales opportunities.

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Communicating with Clients

Presenting research findings to clients and providing recommendations.

A market research analyst plays a vital role in presenting research findings to clients. This responsibility involves compiling data into clear, comprehensive reports that highlight key insights. Analysts must tailor their presentations to suit each client’s specific needs and industry context. They use visual aids like charts and graphs to make complex data understandable. Communicating findings effectively requires clarity, confidence, and an engaging delivery style. After presenting findings, analysts provide actionable recommendations based on the research. These recommendations guide clients in making informed business decisions. Analysts must ensure their suggestions align with the client’s goals and market conditions. This involves thorough analysis and a deep understanding of the client’s industry. A successful presentation not only informs clients but also inspires them to take action based on the insights provided. Effective communication is crucial during presentations. Analysts often anticipate client questions and prepare thorough answers in advance. Addressing client concerns during the presentation demonstrates expertise and builds trust. This trust is essential for fostering long-term client relationships and ensuring successful collaborations.

Building and Maintaining Strong Relationships with Clients

Building and maintaining strong relationships with clients is another critical responsibility of a market research analyst. Analysts work closely with clients to understand their needs and expectations. This understanding helps tailor research efforts to address specific client goals. Regular communication is key to maintaining these relationships. Analysts often schedule check-ins to discuss ongoing projects and gather feedback.

Establishing rapport with clients can lead to more fruitful partnerships. Analysts must demonstrate empathy and active listening skills to connect with clients genuinely. Understanding client challenges and providing support builds a foundation of trust. This trust encourages clients to share more about their businesses, leading to more relevant research outcomes. Strong relationships also foster collaboration. When clients feel valued and understood, they are more likely to engage actively in the research process. Analysts often involve clients in discussions about research design and methodology, ensuring their insights shape the project. This collaboration not only enhances research quality but also strengthens client loyalty. Networking plays a significant role in relationship building. Analysts often attend industry events and conferences to meet potential clients and expand their professional network. Engaging with peers in the field can also lead to valuable partnerships and insights that enhance research capabilities.

Read: Best HR Tools and Software for the Modern Specialist

Utilizing Market Research Tools

Using advanced tools and software to conduct research efficiently.

Market research analysts rely on advanced tools and software to conduct research efficiently. They use statistical software like SPSS and R to analyze data effectively. These tools help analysts identify trends, patterns, and correlations within large datasets. Additionally, analysts use survey platforms such as SurveyMonkey and Qualtrics to design and distribute surveys. These platforms streamline the data collection process, making it easier to reach target audiences.

Analysts also utilize data visualization tools like Tableau and Power BI to present findings clearly. These tools transform complex data into engaging visuals, allowing stakeholders to grasp insights quickly. By leveraging technology, market research analysts enhance their productivity and accuracy. They can process vast amounts of data in a fraction of the time it would take manually.

Furthermore, analysts often employ customer relationship management (CRM) software to manage client data. This software enables them to track interactions and gather feedback efficiently. By maintaining organized records, analysts can provide tailored recommendations to clients. They can also identify areas for improvement in marketing strategies and product offerings. Overall, advanced tools and software are essential for analysts to conduct thorough research and deliver actionable insights.

Staying Updated on Industry Trends and New Research Methodologies

Staying updated on industry trends is crucial for market research analysts. They must be aware of market dynamics, consumer preferences, and competitive landscapes. Regularly reading industry publications, journals, and reports helps analysts maintain this knowledge. Analysts follow thought leaders and organizations on social media to gain insights into emerging trends. This continuous learning ensures they remain relevant in a rapidly evolving field.

Additionally, analysts must stay informed about new research methodologies. Emerging techniques can provide fresh perspectives and enhance research quality. Attending webinars, workshops, and conferences allows analysts to learn from experts. These events often showcase innovative methodologies and case studies that can inspire new approaches. Analysts who embrace these opportunities can expand their skill set and improve their research practices. Networking with other professionals also plays a vital role in staying informed. Joining professional organizations and participating in online forums enables analysts to exchange ideas and experiences. Collaborating with peers allows them to learn about different research techniques and tools. This collaboration fosters a culture of continuous improvement and innovation.

Continuous Learning and Professional Development

Participating in training programs and workshops to enhance skills.

Market research analysts face a rapidly changing landscape. Participating in training programs and workshops is vital for skill enhancement. These programs provide analysts with hands-on experience and exposure to new tools and techniques. Analysts can learn about the latest research methodologies and data analysis software through workshops. Training programs often focus on practical applications. They allow analysts to work on real-world projects and case studies. This experience helps analysts refine their skills and apply theoretical concepts effectively. Additionally, workshops foster collaboration with peers and industry experts. Networking opportunities during these events can lead to valuable connections and mentorship. Many organizations offer specialized training tailored to market research. These programs can cover various topics, including advanced analytics, survey design, and consumer behavior. By participating in these programs, analysts can build a robust skill set that enhances their marketability. Furthermore, training often emphasizes emerging trends and technologies. For example, analysts may learn about big data analytics or machine learning applications. Staying updated on these trends enables analysts to offer innovative solutions to clients. Continuous learning through training ensures analysts remain competitive in the evolving job market.

Keeping Up with Industry News and Best Practices to Stay Competitive

In addition to training, keeping up with industry news is crucial for market research analysts. The market research landscape evolves rapidly, influenced by new technologies and consumer behaviors. Analysts must stay informed about these changes to provide relevant insights to clients. Regularly reading industry publications, blogs, and research reports helps analysts stay current. Subscribing to newsletters and following industry leaders on social media can provide timely updates. Participating in online forums and discussion groups also offers insights into best practices. These platforms allow analysts to share knowledge and learn from others in the field. Understanding best practices in market research is essential for producing high-quality work. Analysts must familiarize themselves with ethical standards and methodologies to maintain credibility. Keeping abreast of industry standards ensures that analysts adhere to guidelines and deliver reliable results. Additionally, attending industry conferences can broaden an analyst’s perspective. These events often feature keynote speakers and panel discussions with industry experts. Analysts gain valuable insights into emerging trends and successful case studies from these sessions. Networking at conferences also allows analysts to connect with potential clients and collaborators. Staying competitive as a market research analyst requires a proactive approach. Combining training programs with ongoing education ensures that analysts continually enhance their skills. By remaining informed about industry news and best practices, analysts can adapt to changes and meet client needs effectively.

A market research analyst’s daily responsibilities encompass a wide range of tasks that are both dynamic and challenging. Each day, they begin by analyzing data to uncover key trends and insights that can inform business strategies. Conducting surveys and focus groups allows them to gather valuable consumer opinions, which they then interpret to identify potential opportunities for growth. Additionally, they create detailed reports that synthesize their findings and present these insights to stakeholders, helping to guide critical decision-making processes. Collaboration is key in this role, as they frequently work alongside marketing, sales, and product development teams to ensure that research aligns with company goals. The fast-paced nature of the market requires analysts to stay adaptable and responsive, as new data and trends continually emerge. This demands not only analytical skills but also creativity in problem-solving. Ultimately, market research analysts play a crucial role in helping companies remain competitive, making their work vital and impactful within the organization.

Skills Needed for a Successful Market Research Analyst Career

Becoming a Market Research Analyst: Essential Steps

Importance of Soft Skills in Management Consulting

How to Develop Leadership Skills in Banking

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What does a Market Research Analyst do?

A market research analyst is an individual who studies the market conditions so that he/she or she can examine the potential sales of an organization's product or service. Market research analysts are required to devise and evaluate methods for collecting data such as surveys, focus groups, and opinion polls. They must interpret the data they have collected and presented their findings to executives and clients to help them make better-informed decisions. Market research analysts are also required to create visuals of industry trends and competitors so the company can predict how it fares in the marketplace.

• Responsibilities
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• Comparisions
• Types of Market Research Analyst

Market research analyst responsibilities

Market research analysts play a crucial role in gathering and analyzing data to inform business decisions. They often "utilize primary and secondary sources of market research data to provide actionable information," as stated by Dr. Claire Gilliland , Assistant Professor of Sociology at Furman University. This can involve tasks such as "creating a 20-page report including SWOT analysis and financial performance" or "analyzing data on customer demographics, preferences, and buying habits to identify demand motivation factors." Their work often results in "producing weekly credit memo documents that efficiently summarize underwriting, real estate, and due diligence information for all projects." In essence, market research analysts help businesses understand their market, customers, and competition, enabling informed strategic decisions.

Here are examples of responsibilities from real market research analyst resumes:

• Manage thousands of accounts using CRM software such as SalesForce.
• Lead CRM presentation including product demo with business benefits to the client.
• Perform statistical analysis using Minitab and SPSS.
• Conduct primary research of aftermarket warranty products and analyze results using SPSS.
• Develop portfolio strategy and asset class allocation using performance analytics, current market data and trend forecasts.
• Assist with CRM reporting in SalesForce.
• Used SAS and gamma regression to do price prediction on district market data.
• Appropriate testing methods and procedures in SAS are considered before designing the survey.
• Maintain the research database, renew and improve it by SQL server and SAS9.3.
• Publicize, co-edit, and create content for the global website and LinkedIn page.
• Perform monthly research utilizing an SQL database from MCIF to generate monthly and semimonthly board reports.
• Implement the use of SPSS, a statistical software package, and Lexis-Nexis, an online monitoring tool.
• Maintain database and CRM programs in order to grow a greater market share for Bloomnet a division of 1800flowers
• Source names and details of market participants using LinkedIn and Bloomberg, and update the company database using the FileFinder software
• Serve as e-pipeline administrator, performing RFP and competitor company research on the website and creating and assigning user accounts.

Market research analyst skills and personality traits

We calculated that 8 % of Market Research Analysts are proficient in PowerPoint , Data Analysis , and SPSS . They’re also known for soft skills such as Analytical skills , Communication skills , and Detail oriented .

We break down the percentage of Market Research Analysts that have these skills listed on their resume here:

Prepared reports, interpreted results and communicated findings using Excel and PowerPoint for client presentations and senior staff speaking engagements.

Provided full research services for business-to-business and business-to-government data analysis on federal, state and local business and IT needs.

Analyzed data using descriptive and inferential statistics using multivariate techniques and SPSS Statistics software.

Utilized primary and secondary sources of market research data to provide actionable information used to increase advertising sales and circulation.

Performed regular data collection and analysis using Microsoft Excel and stored information for use in publications and by colleagues.

Analyze comprehensive commercial real estate information on buildings and development across major regions to better understand capital market trends.

Common skills that a market research analyst uses to do their job include "powerpoint," "data analysis," and "spss." You can find details on the most important market research analyst responsibilities below.

Analytical skills. The most essential soft skill for a market research analyst to carry out their responsibilities is analytical skills. This skill is important for the role because "market research analysts must evaluate large amounts of data and information related to market conditions." Additionally, a market research analyst resume shows how their duties depend on analytical skills: "encompassed strategic business research and analysis in developing business plans and market research in support of organization's initiatives and future direction"

Communication skills. Another essential skill to perform market research analyst duties is communication skills. Market research analysts responsibilities require that "market research analysts must be able to clearly convey information when gathering material, interpreting data, and presenting results to clients." Market research analysts also use communication skills in their role according to a real resume snippet: "produced and delivered private/public market research reports for manufacturers and investors in the telecommunications and consumer electronics industries. "

Detail oriented. market research analysts are also known for detail oriented, which are critical to their duties. You can see how this skill relates to market research analyst responsibilities, because "market research analysts must pay attention to minutiae to evaluate data." A market research analyst resume example shows how detail oriented is used in the workplace: "designed focus surveys to capture relevant market research data and compiling results into detailed reports. "

See the full list of market research analyst skills

The three companies that hire the most market research analysts are:

• Ernst & Young 21 market research analysts jobs
• McKinsey & Company Inc 7 market research analysts jobs
• Monster Products 7 market research analysts jobs

Choose from 10+ customizable market research analyst resume templates

Compare different market research analysts

Market research analyst vs. analyst sales.

Analyst sales, or a sales analyst, is an individual who is responsible for increasing sales and revenue of a company by running competitive analysis and making recommendations on how the marketing and sales team should move forward. Sales analysts must assist in the review of monthly financial statements and prepare complex financial statements for retail and service businesses. They develop and provide market intelligence data solutions for the sales team to maximize territory sales efforts. Sales analysts must also maintain a business relationship with key account top management to deliver outstanding customer service and assistance.

There are some key differences in the responsibilities of each position. For example, market research analyst responsibilities require skills like "powerpoint," "spss," "data collection," and "product development." Meanwhile a typical analyst sales has skills in areas such as "salesforce," "customer service," "crm," and "pos." This difference in skills reveals the differences in what each career does.

Market research analyst vs. Analyst

Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.

While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that market research analyst responsibilities requires skills like "powerpoint," "spss," "market trends," and "product development." But an analyst might use other skills in their typical duties, such as, "customer service," "troubleshoot," "management system," and "digital transformation."

Market research analyst vs. Data analyst internship

A data analyst internship involves a trainee who wants to gain working experience in the field of information technology (IT) by assisting data analyst professionals. Data analyst interns should examine information using data analysis tools so that they can help their employers make important decisions by identifying various facts and trends. They write reports and present them to the management to provide new insights about new trends and areas for improvement. Data analyst interns can find work in areas such as banks, specialist software development companies, and consultancies.

Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from market research analyst resumes include skills like "powerpoint," "market trends," "product development," and "primary research," whereas a data analyst internship is more likely to list skills in "java," "python," "power bi," and "data analytics. "

Market research analyst vs. Product analyst

A product analyst job utilizes data analysis software and notates trends in market research. Primarily, analysts project the costs of product development and marketing. They think of the possibilities for profit and sales and monitor the performance of products on the market to come up with a better product. Their responsibilities include company product evaluation, product understanding, and product rating reviews. Familiarity with Microsoft Office Suite, strong communication skills , and proficiency in database software is necessary for this job.

Types of market research analyst

• Marketing Analyst
• Pricing Analyst

Research Manager

Research leader.

Updated June 25, 2024

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

What Similar Roles Do

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What Can You Do with a Marketing Degree?

Marketing professionals help businesses connect with their customers and increase sales revenue, making marketing one of the most valuable functions within any organization. With a broad array of marketing channels available, including social media, email, and public relations, you can pursue several marketing career paths in almost any industry. 

If you’re considering a marketing degree at the undergraduate or graduate level, explore the possibilities and discover how your degree will expand your skill set and career growth. 

Top Professional Roles for Marketing Majors

If you’ve been wondering what you can do with a marketing degree, the answer depends on you as much as it does on the job market. Many career opportunities are available, but the marketing roles you pursue should match your skills and interests. For example, a digital marketing career might be ideal if you’re interested in how email and social media marketing influence customer buying decisions. Conversely, traditional marketing may be the path for you if you’re more interested in direct mail, billboard, and radio marketing channels. Fortunately, no matter the path you choose, you can pursue various careers in marketing and advertising.

Job options for marketing graduates include the following:

1.  Advertising and Promotions Manager

Create and execute advertising programs, including creating strategies for brand awareness, managing promotional campaigns, and negotiating advertising contracts. Per the Bureau of Labor Statistics (BLS), advertising and promotions managers earned a median annual pay of $131,870 in 2023.

2. Market Research Analyst

Collect and analyze data on consumer behavior, competitors, and potential marketing opportunities for customer segments. Provide recommendations to support sales and marketing decisions. According to the BLS, the 2023 median annual wage for market research analysts was $74,680 .

3. Digital Marketing Specialist

Develop and execute online marketing campaigns in areas such as search engine optimization (SEO), pay-per-click (PPC), email, and social media. According to Zippia, the average annual salary for digital marketing specialists is $60,359 .

4. Public Relations (PR) Manager

Manage communication strategies and media relations to build and maintain an organization’s reputation. According to the BLS, public relations (PR) managers earned a 2023 median salary of $134,760 .

5. Marketing Manager

Oversee marketing teams and campaigns across a variety of channels and partner with product and sales teams to drive organizational revenue growth. Per the BLS, the 2023 median pay for marketing managers was $157,620 . 

6. Product Marketing Manager

Help organizations position their products to meet the needs of current and prospective buyers. Per the Product Marketing Alliance, product marketing managers earned an average total compensation of $162,649 in 2023 .

Benefits of Pursuing a Marketing Degree and Career

If you’ve been considering marketing degree career paths, you likely zeroed in on the many benefits marketing roles can offer to your personal and professional development. 

With a marketing degree to propel your career, you can enjoy the following advantages: 

• Competitive pay : As discussed above, you can pursue a range of high-paying jobs with a marketing degree. Although your earning potential will vary according to job duties, years of experience, and other factors, your education level is also critical. Research has found that earning potential rises with each level of education you pursue. 
• Healthy job outlook : Marketing professionals continue to be in demand across industries, resulting in an estimated 7 percent growth through 2032—much faster than the 3 percent growth rate for all other positions.
• Flexibility : Many marketing roles, especially those focused on digital marketing channels, can be performed in an office or remotely.
• Skill development : From AI to the latest marketing analytics, marketing constantly evolves and leverages new tools and technology. Additionally, marketing roles offer opportunities to expand your soft skills in communication, problem-solving, creativity, and problem-solving.
• Diverse career paths : You can become a marketing generalist or specialize in a specific area, including event marketing, content development, advertising, or marketing research. 

Types of Marketing Degrees to Consider

Although you can pursue some marketing roles with a degree in a different major, a marketing degree offers the best opportunity to get a comprehensive education in current marketing best practices. Furthermore, bachelor’s and master’s degrees in marketing offer relevant knowledge and skills to help you pursue a variety of marketing roles, right up to and including chief marketing officer (CMO).

MVNU Online offers three distinct marketing degrees, all delivered in a 100 percent online, asynchronous environment. Each career-focused program offers rigorous coursework, a supportive learning community, and the flexibility working adult learners need in a degree program. Program options include:

Bachelor of Business Administration (BBA) in Marketing

The online Bachelor of Business Administration (BBA) in Marketing degree from MVNU Online equips students with fundamental business skills combined with marketing-centric coursework in the following areas:

• Marketing Management
• Personal Selling
• Advertising and Promotion
• Marketing Strategy
• Marketing Research

Bachelor of Business Administration (BBA) in Digital Marketing

The BBA in Digital Marketing delivers a traditional business curriculum alongside digital marketing coursework, covering areas such as SEO, content and social media marketing, email marketing, and data analytics. You’ll learn how to build and optimize digital marketing campaigns and develop practical skills you can apply in consumer and business-to-business (B2B) organizations.

Master of Business Administration (MBA) in Marketing

The online Master of Business Administration (MBA) in Marketing is for those who have already completed a bachelor’s degree and want a traditional MBA education combined with marketing coursework. Whether you’re new to the marketing field or already possess an undergraduate marketing degree, the MBA in Marketing offers many opportunities to discover new trends in marketing strategy and leadership. The program is typically 19 months long, but you can take two classes at a time and complete the program in 11-15 months.

What Can You Do With a Marketing Degree? A Lot!

A marketing degree opens the door to a world of rewarding career opportunities. You’ll learn new skills and gain a solid understanding of the many marketing disciplines, from PR to advertising to digital marketing. As you advance your career, you’ll be thankful you invested in yourself and took the time to fully explore the ever-evolving field of marketing. 

So what can you do with a marketing degree? You can gain new skills, enjoy excellent earning potential, and help brands understand and communicate with their customers. And when you pursue a 100 percent online marketing degree from MVNU Online, you won’t have to stop working or put your life on hold to get a quality education. 

To get started with your marketing degree from MVNU Online, speak with one of our enrollment counselors .

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