Market Research Analyst
Marketing Research Association

A market research analyst is responsible for helping companies figure out which products will do well with their target market.

They also research and recommend price points and where and how to sell each product.

This career is best suited to those who have a mind for analytics, enjoy math, and are willing to spend time planning out their presentations.

Computer skills and the ability to communicate well are also useful.

You can find different business salary estimates on the Business Degree Salary Table.

Required Education

Just what does a marketing research analyst need to study? In order to pursue this career option, you will need an accredited Bachelors degree in accounting at the very least, with some jobs requiring a Masters in the area you are interested in working in. You’ll be taking classes in statistics, marketing, psychology, sociology, communications, and economics.

Math is also very important for those interested in this career path. It requires quite a bit of number crunching, so you will need to be well versed in accounting, statistics, and other math related areas. Survey design is another area that will need to be studied.

Where to Find Work

There are numerous opportunities for market research analysts. Research firms tend to recruit analysts since they have many clients looking for help with product development. However, individual corporations may also hire marketing research analysts if they have a steady stream of new products. These will usually have research departments and may cover anything from toys to food products.

Government agencies may also use marketing research analysts for marketing purposes and there are also teaching jobs available. You may choose to work in a university, teaching a class related to market research, or train members of companies in this area.

Once you have a firm grasp of analysis through assisting others with statistics and surveys, there are opportunities for promotion. The next step up is to work on your own projects, then to manage others who are analyzing markets for a company.

There are a few options when it comes to specializing in market research:

  • Sr. Marketing Research Analyst - Designs and executes surveys and tests to see what the target market is for a product and how this market reacts to it. This involves managing everything from health benefits to retirement plans and making sure that they are implemented when necessary.
  • Sr. Product Research Analyst - Studies the market and determines which products would be best created for it.

A market research analyst will need to be licensed by the Marketing Research Association in order to get the best jobs. Taking further classes or studying to get a PhD is also a good way to open up new opportunities in the field of marketing research. Being a growth industry, there are plenty of choices in this career, making it a good option for anyone who likes math and is interested in statistics.