The economy of tomorrow may feature products and services we cannot even now imagine. As new products and markets emerge, market research analysts--professionals who study the consumer market and data to figure out what products should be the most successful and why--should see new employment opportunities.
Retrain Your Career Skills to Become a Market Research Analyst
Are you detailed-oriented and good with numbers? Can you find patterns in data, and do you like presenting your ideas in a presentation or writing? If so, you have the starting career skills to consider market research analysis. Successful professionals should be able to compare and contrast products, assess proper prices and markets, and communicate well with both businesses and consumers.
They interview consumers, look at competing companies to see why certain products are doing well, and even advise on an advertising strategy to get more customers. Market research analysts understand what people want. If you have been working in retail, sales, customer service or similar fields, you can improve your career skills with continued education, whether traditional campus-based classes or online market research analyst training courses.
Career Advice & Education Requirements
A bachelor's degree is the typical minimum education requirement for a career in market research analysis, but professionals that progress towards a master's degree of PhD should find even more employment opportunities. Psychology, business, and quantitative analysis are subject areas that can improve your skills in market analysis.
Good market researchers should also learn how to conduct surveys, compile new data, and communicate clearly to their audience. From the results they obtain with their surveys, interviews, and data analysis, companies can make decisions on how to position their products in any economy. If this kind of work sounds exciting to you, consider exploring career retraining options through online market research analyst training courses.
- Market research analysts employed in 2012: 415,700
- Median Annual Salary: In May 2013, market research analysts earned a median annual salary of $67,780 with top 10% making more than $114,250.
- Top paying states for market research analysts: Washington, Delaware, California, New Jersey, Colorado
- Typical marketing degree level attained: bachelor's degree (entry level), master's degree (technical positions)
- Popular majors: business administration, marketing, statistics
- Popular coursework: business, consumer behavior, marketing, mathematics, statistics, sampling theory
- Percent projected employment increase, 2012-2022: 32 percent - Much faster than national average of 11 percent
- Number of new careers expected to enter field 2012-2022: 131,500
- Industries with projected future career opportunities: consulting firms, marketing research firms
- Largest industry employing market research analysts: company and enterprise management
- Certifying association: Marketing Research Association (MRA)
- Recommended skills: attention to detail, patience, teamwork, communication
- Typical technical tasks: Gathering and analyzing data, writing reports, conducting surveys or interviews
- Work environment: Deadlines, interviews, team meetings
- Potential career duties: Overtime, travel, contact with the public
- Potential creative work: Development of commercials, product promotions, sales plans