Job description

Market research analysts conduct research, employ strategies and gather data to assist a company in marketing its products or services or to help the government to learn what the public thinks. They utilise various tactics, methods and digital tools (such as focus groups, statistical software and telephone polling) to gain insight into consumer demographics, buying habits, preferences and opinions.

Duties

    • Conduct quantitative and qualitative research on consumer preferences and voter opinions
    • Put together a research strategy to gage competition, prices, sales and industry trends
    • Manage telephone survey, focus group, written study and in-person survey projects
    • Gather findings, organise data and input information into a report, chart or white paper
    • Translate data into actionable insight and recommendations for private enterprises
    • Work with companies or public agencies to determine the purpose of the study and methods
    • Follow industry statistics and market trends for internal reference for future clients
    • Forecast market trends by utilising the data your firm collected from research studies
    • Upload summaries of all kinds of information into internal databases
    • Collaborate with other marketing professionals to devise plans
    • Use various statistic software programs to help execute market research campaigns
    • Return to past campaigns and measure the efficacy of these endeavours on a regular basis

Skills, qualities and knowledge

Attention to detail
Communication
Tech-savviness
Teamwork
Analytical
Numerical
Problem-solving
Decision-making
Leadership
Organisational
Interpersonal
Creativity

Working hours and environment

Average working hours

40hweek

Typical schedule

Full Time

Standard business hours

Market research analysts typically work 40 hours a week, from Monday to Friday. That said, they may be required to work evenings or weekends occasionally, such as when deadlines are tight or when a project-related event is unfolding.

The job will be mostly carried out in an office setting, but there may also be times when research needs to be conducted in the field.

Salary

Bottom 10%

$34k

Median

$63k

Top 10%

$120k

Annual salary estimates are based on percentile wage data collected through the Occupational Employment Statistics (OES) survey of US workers.

Qualifications and training

Education level

Undergraduate

DVM / VMD degree

Study time

4years

To become a market research analyst, you will need to complete a four-year bachelor’s degree in market research or a similar field, or in subjects like maths, statistics, business administration or computer science.

That said, some employers prefer candidates with a master’s degree, especially for leadership positions.

Certification is voluntary but can increase your job prospects.

Job outlook

Projected growth
The projected growth rate of employment in the US from 2018 to 2028, based on data collected through the BLS Employment Projections (EP) programme. The national average growth rate for all professions is 5%.

20%

No of new jobs
The number of jobs projected to become available in the US between 2018 and 2028, based on data collected through the BLS Employment Projections (EP) programme.

139.2k

Automation risk
The probability of computerisation, based on data published in ‘The Future of Employment’, a 2013 working paper by Carl Benedikt Frey and Michael Osborne.

61%

Career progression

With experience, you can advance your career to a leadership positions such as business development specialist, product marketing engineer, research director or client services vice president.