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Market Research Analyst job description

A Market Research Analyst collects and analyzes data on consumers, competitors, and the marketplace. They provide insights and recommendations to support decision-making, identify market trends, and improve competitiveness. Strong analytical skills, knowledge of statistical packages, and excellent communication are essential.

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This Market Research Analyst job description template is optimized for posting on online job boards or careers pages and easy to customize for your company.

What is a Market Research Analyst?

A Market Research Analyst is a professional who collects and analyzes data on consumers, competitors, and the marketplace. They interpret the findings to provide valuable insights and recommendations to businesses for informed decision-making and to identify market trends and opportunities.

What does a Market Research Analyst do?

A Market Research Analyst conducts research and gathers data using various methods such as surveys, interviews, and data analysis tools. They analyze the collected data, interpret trends, and provide reports and presentations to clients or internal stakeholders. They play a crucial role in helping businesses understand consumer preferences, market dynamics, and competitive landscape to drive strategic decision-making and improve overall business performance.

Market Research Analyst responsibilities include:

• Collecting data on consumers, competitors and market place and consolidating information into actionable items, reports and presentations
• Understanding business objectives and designing surveys to discover prospective customers’ preferences
• Compiling and analyzing statistical data using modern and traditional methods to collect it

Want to generate a unique job description?

Looking for a job.

We are seeking a detail-oriented Market Research Analyst to conduct surveys and analyze customer preferences and statistical data.

Your role will involve providing valuable insights to support customers in their decision-making processes related to product designs, pricing, and promotions.

As a successful Market Research Analyst, you will have the ability to independently analyze qualitative data, identify trends, assess strategies, and evaluate competition, with the ultimate goal of enhancing competitiveness.

Your responsibilities will include gathering and interpreting market research data, generating reports, and presenting findings to stakeholders.

We are looking for a self-motivated professional with strong analytical skills and a deep understanding of market dynamics.

Join our team and contribute to our company’s success by helping us make data-driven decisions to optimize our products and strategies.

Responsibilities

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

Requirements and skills

• Proven Market Research Analysis experience
• Ability to interpret large amounts of data and to multi-task
• Strong communication and presentation skills
• Excellent knowledge of statistical packages (SPSS, SAS or similar), databases and MS Office
• Search engines, web analytics and business research tools acumen
• Familiarity with CRM programs
• Adequate knowledge of data collection methods (polls, focus groups, surveys etc)
• Working knowledge of data warehousing, modelling and mining
• Strong analytical and critical thinking
• BS degree in Statistics, Marketing or related field

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Market Research Analyst

Job summary:.

The Market Research Analyst will research, compile, and analyze information on products and market conditions to identify potential new markets, sales opportunities, and the most effective methods of marketing specified products.

Supervisory Responsibilities:

Duties/responsibilities:.

• Identifies and defines the objective of an assigned marketing research project; determines the best methods to use to meet those objectives.
• Drafts questionnaires, polls, surveys, and other data collection resources.
• Researches and compiles data related to current product market, customer demographics and interest, and factors influencing product demand; analyzes results to identify ways of maximizing sales and market penetration of current products.
• Compiles data related to competitors products such as pricing, sales, and marketing or distribution methodology.
• Summarizes and analyzes data; makes recommendations related to research findings.
• Reports findings, complete with graphs illustrating data and written text explaining complex findings.
• Identifies potential new products or markets through research.
• Forecasts and tracks industry marketing and sales trends based on collected data.
• Delivers reports and presentations of findings to management and/or executive leadership.
• Performs other related duties as assigned.

Required Skills/Abilities:

• Excellent verbal and written communication skills.
• Excellent organizational skills and attention to detail.
• Superior research and analytical skills.
• Ability to translate complex concepts and methodologies into easily understood language.
• Proficient with Microsoft Office Suite or related software.

Education and Experience:

• Bachelors degree in Marketing Research, Statistics, Math, or related field required; MBA preferred.
• Some related experience preferred.

Physical Requirements:

• Prolonged periods sitting at a desk and working on a computer.
• Must be able to lift up to 15 pounds at times.

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Market Research Analyst: Job Description & Skills in 2024

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

Definition of Market Research Analyst

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

Importance of Market Research Analyst

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

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

Overview of the Article

Throughout the article, we will cover the following topics:

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

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

Market Research Analyst Job Description

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

A. Responsibilities

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

B. Gather Data and Information

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

C. Analyze Data and Information

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

D. Evaluate and Present Findings

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

E. Communicate with Clients, Managers, and Stakeholders

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

F. Maintain Research Databases and Technology

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

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

Qualifications and Skills for Market Research Analyst

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

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

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

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

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

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

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

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

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

Career Prospects and Salary for Market Research Analysts

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

A. Career Growth Opportunities

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

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

B. Job Market Trends and Outlook

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

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

C. Salary and Compensation

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

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

D. Geographic and Industry Variation in Salaries

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

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

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

Types of Market Research Analyst

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

A. Industry-Specific Market Research Analyst

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

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

B. Geographical Market Research Analyst

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

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

C. Demographic Market Research Analyst

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

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

D. Product-Specific Market Research Analyst

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

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

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

Types of Market Research Techniques

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

A. Qualitative Research

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

B. Quantitative Research

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

C. Primary Research

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

D. Secondary Research

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

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

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

A. Survey Tools

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

B. Data Analysis Tools

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

C. Project Management Tools

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

D. Reporting Tools

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

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

Important Key Performance Indicators (KPIs) for Market Research Analysts

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

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

A. Customer Satisfaction

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

B. Net Promoter Score (NPS)

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

C. Market Share

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

D. Customer Retention

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

E. Sales Growth

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

F. Brand Awareness

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

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

Challenges Faced by Market Research Analysts

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

A. Limited Time and Resources

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

B. Handling and Managing Big Data

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

C. Staying Up-To-Date with Technological Advancements

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

D. Increased Competition

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

E. Evolving Market Trends and Consumer Behaviour

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

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

Importance of Market Research Analyst for Various Industries

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

A. Retail Industry

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

B. Healthcare Industry

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

C. Technology Industry

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

D. Manufacturing Industry

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

E. Food & Beverage Industry

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

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

Example Case Studies

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

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

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

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

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

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

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

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Market Research Analyst Job Description

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

Market Research Analyst Job Description Template

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

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

Market Research Analyst Responsibilities:

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

Market Research Analyst Requirements:

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

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How to write a market research analyst job description

A market research analyst is like your organization's eyes and ears on market trends, diving into data to provide insights for growth. Given how crucial their role is, getting the right person onboard isn't just a want—it's a need.

A vague or outdated job description can lead to missed opportunities or even the hassle of rehiring. Beyond the technical bits, a market analyst also needs solid teamwork skills and adaptability. 

If you aim to craft a market research analyst job description that attracts the best, you're in the right place. We have the blueprint you need and a free template to help you get started.

Table of contents

What is a market research analyst, key skills to look for in market research analysts, how to write an effective market research analyst job description, market research analyst job description template , two things to avoid when writing a job description for market research analysts, next steps: attracting and assessing market research analyst candidates, hire the best market research analyst with testgorilla.

A market research analyst studies market conditions to identify potential sales opportunities for a product or service. 

They gather data on consumers and competitors, analyze information to predict market trends, and provide insights to companies to make informed business decisions. 

Their findings help shape marketing and business strategies to meet customer needs and preferences.

Data collection and analysis : Ability to gather the right data and interpret it, helping businesses understand market trends and customer preferences.

Statistical expertise : Skill in using statistical methods to analyze data, making it easier to spot patterns and make accurate predictions.

Accuracy and critical thinking : Ensuring accuracy in gathering data and logically making sense of numbers and trends.

Familiarity with research tools : Knowledge of the latest tools and software used in market research to collect and analyze data efficiently.

Understanding consumer behavior : Grasps why consumers make certain choices, helping businesses cater to these needs and desires.

Report writing : Skill in compiling data into clear, concise reports that decision-makers can easily understand and act upon.

Communication Skills : Can present findings clearly, whether it's in writing or verbally, making sure everyone, from teammates to executives, understands.

Writing an effective job description for a market research analyst requires clarity, specificity, and an understanding of the role's significance in the organization. Follow these steps:

Highlight essential skills and qualifications

You should detail both the hard and soft skills required for the position. While it's essential to mention technical know-how like familiarity with specific statistical tools, such as SPSS, don't forget soft skills like communication, teamwork, and adaptability. Include something like, "You value clear communication as much as number-crunching."

Additionally, when you're jotting down qualifications, be clear. Instead of just saying, "A degree required," specify with "Do you have a bachelor's in Statistics or Marketing? That's what we're after!"

Emphasize company culture and application details

Give them a sneak peek into your company’s culture and values. For instance, "At our firm, we're big on team lunches and brainstorming sessions." This allows candidates to determine if they align with the organizational ethos. 

Furthermore, you need to outline the application procedure clearly. Detail what the candidate should provide—be it a resume, cover letter, or specific project—and provide a point of contact for any questions. This clarity ensures a smoother application process for both the candidate and the hiring team.

Here’s a market research analyst job description template that you can tailor to your needs:

Company introduction

Give a glimpse of your company’s culture, values, working style, and unique benefits or perks. For instance, write, “Our teams enjoy flexible hours and an annual company retreat to rejuvenate.” It helps potential candidates understand if they'd be a good fit.

Benefits of working with [Your company]

This section highlights the perks and benefits of working with your company. These may include healthcare and retirement plans, vacation or paid time off, generous compensation, flexible work hours, or exclusive access to industry workshops to keep the candidate at the forefront of market research trends.

Market research analyst job brief

[Company name]

Job Title: [For example, Lead Market Research Analyst, Market Research Specialist, or Market Data Analyst]

Reports to: [For example, Chief Marketing Officer (CMO) or Vice President (VP) of Marketing]

Position type: [For example, full-time or part-time; employee or independent contractor]

Location: [Remote, hybrid, or on-site]

[Compensation details]

Market research analyst responsibilities

Gather and analyze data on consumers, competitors, and market conditions using statistical software.

Interpret data to provide actionable insights on market trends, competitive positioning, and potential opportunities.

Monitor and evaluate competitor performance, pricing, and marketing strategies to shape competitive approaches.

Design and execute qualitative and quantitative research methods, including surveys and focus groups.

Perform market research SWOT analysis.

Develop comprehensive reports and presentations to share findings and recommendations with key stakeholders.

Predict future market trends and provide insights on potential new products or market expansions.

Collaborate closely with marketing, sales, and product teams to align research objectives and findings.

Ensure all research adheres to ethical standards, maintains data integrity, and upholds data confidentiality.

Coordinate with external research agencies or vendors, ensuring outsourced work aligns with company objectives and standards.

Requirements/Qualifications and training required

Bachelor's degree in market research, marketing, business, or a related field, with a preference for those holding advanced degrees or relevant certifications.

Proven experience in market research, data analysis, and the use of statistical software, such as SPSS, Tableau, or Qualtrics.

Strong communication skills, both written and verbal, coupled with the ability to present complex data insights clearly and understandably.

Avoid these two common pitfalls to ensure you're drawing in the right talent:

1. Neglecting soft skills

While the technical aspect of market research is crucial, soft skills play an equally pivotal role. Avoid overlooking attributes like "strong communication skills," "collaborative team spirit," or "effective problem-solving." 

These skills ensure that analysts not only gather data but also interpret and communicate their findings to stakeholders.

2. Overlooking technological proficiency

The world of market research is becoming increasingly tech-reliant. But don’t assume that every candidate will be familiar with industry-standard software. You should explicitly mention which tools they’ll need to be proficient in, such as SPSS or Qualtrics. This ensures your new hire doesn’t need extensive training to get started.

Once your job description is ready, you can post it on your company website or on job boards such as Indeed, CareerBuilder, LinkedIn, and Glassdoor.

To sort and hire the best market research analyst , use pre-employment screening tests like those offered by TestGorilla. TestGorilla offers a variety of technical and soft skills tests in easy-to-understand formats that candidates can take in one sitting.

Role-specific tests include:

Market analysis test to evaluate candidates' ability to understand and interpret market factors to optimize business decisions.

Market research test to assess understanding of qualitative and quantitative research methods

Market analytics test to consider the ability to collect data from various sources, analyze it, and present data.

Other tests include:

Critical thinking test to measure the ability to think logically and make sound decisions.

Problem-solving test to test the ability to break down issues and find optimal solutions.

Communications skills test to test both verbal and written communication skills.

Personality tests to assess various personality traits.

How to become a market research analyst with no experience?

You could study marketing or statistics, take online courses to master tools like SPSS or Qualtrics, and seek internships or volunteer opportunities to build a portfolio and gain hands-on experience. Networking and attending industry workshops can also open doors to entry-level positions.

What is the difference between market research analyst and business analyst?

While both roles involve data analysis, they address different aspects of a business and have distinct objectives. Market research analysts focus on market trends and consumer behavior, while business analysts focus on optimizing business processes and systems.

Do you need an MBA to be a market research analyst?

While an MBA can be beneficial, many analysts start with bachelor's degrees in marketing, statistics, or related fields and gain experience in research methodologies and tools.

Market research analysts play a crucial role in helping businesses with informed decision-making. They have their fingers on the market pulse, studying consumer behavior and tracking competitors' moves.

A well-crafted job description takes the first step in attracting the right candidate who aligns with your company culture. After you've built a pool of candidates, you can use TestGorilla's pre-employment screening tests to assess their role-specific skills, cognitive abilities, and vital soft skills, ensuring you discover the perfect fit for your organization.

Explore TestGorilla today at no cost , or schedule a product demo to find the ideal market research analyst for your business.

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Market Research Analyst Job Description Template

A market research analyst is the “ears” of the company. They asses the market(s) of the business to ascertain what customers exist, what they want, and what they will pay for a product/service. This also extends to the competitive environment and how the company is positioned within its marketplace.

Trusted by leading brands and startups

In practice, a market research analyst’s role is to gather intelligence, analyze it, and then present the findings across the organization in an actionable manner. This data can be collected from a range of qualitative (e.g., customer feedback) and quantitative (e.g. financial reports) sources, often in a creative manner. They work to both reinforce the organization within its current segments and continually maintain a forward-focused approach to uncover new commercial opportunities for the future.

As such, the role needs to combine a strong technical skill set with the mindset of someone that can look at the bigger picture and translate data into tangible action plans.

Technological advancements have made the role of a market researcher more important to an organization. Firstly, markets are now more competitive in terms of entry and innovation; incumbents cannot just sit back post-launch and rest on their laurels without running the risk of being disrupted by new competitors. Secondly, the advent of more engaged interaction with customers via internet and mobile-based technologies offers companies a whole range of invaluable primary data collection methods to help hone their offerings.

Market Research Analyst - Job Description and Ad Template

Copy this template, and modify it as your own:

Company Introduction

{{Write a short and catchy paragraph about your company. Provide information about the company’s culture, perks, and benefits. Mention office hours, remote working possibilities, and anything else that makes your company interesting.}}

Job Description

We are looking for a market research analyst to provide us with cutting-edge insight to help drive our business forward with data-driven decision making. You will help us to fully understand our competitive positioning within our market and work with our business development teams to plan our future commercial steps. The ideal candidate will have a strong broad technical and analytical skill set with a commercially focused mentality.

Responsibilities

Data Gathering:

Translate business objectives into research steps {{e.g., questionnaires, focus groups}}

Work cross-functionally to build relevant primary research collection tools for customers

• Consumers: Demographics, buying habits, needs, and price points
• Competitors: Pricing structures, current tactics, and sales channels

Construct and maintain a central database for recording market data. You will be expected to monitor the quality of the data, continually implement improvements, and train appropriate staff as necessary

Consistently exercise independent judgement and discretion in research matters

• Maintain a PR presence for the business within appropriate external arenas, for example, trade shows, media appearances, and panel discussions

Analytics and Reporting:

Deploy statistical modeling techniques to analyze data and forecast future trends

Use integrity measures {{for example: null hypothesis testing}} to check quality of recorded data

Prepare and submit regular reports to the {{head of marketing}} that summarizes fundings in a digestible, graphical, and actionable manner

Attend {{weekly sales meetings}} and present your research

Build out internal communication channels to keep the wider business updated with market news

Work with the teams to devise future commercial strategies based upon your findings

Skills and Requirements

Minimum of a bachelor’s degree, preferably within psychology, sociology, statistics, communications, or marketing

2-5 years of direct experience within similar roles

• Statistical software packages: {{SPSS, SAS, R or Stata}}
• Database manipulation {{SQL}} and CRM management
• Advanced data visualization methods: {{Tableau, Business Objects}}

A natural curiosity and a “big picture” mentality

Excellent spoken and written communication and the tenacity to hold an argument

• Ability to collaborate cross-functionally, with people of all levels

Recent Market Research Analyst Articles by Toptal Finance Experts

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Why Music Royalties Are an Attractive Asset Class

The State of the Music Industry in 2020

How to hire market research analysts.

Market research analysts are skilled at ascertaining who will buy your company’s products or services. This guide to hiring a market research analyst features interview questions and answers, as well as best practices to help you identify the top candidates for your company.

Hire a Top Market Research Analyst Now

Top companies, startups, management consulting, and private equity firms hire freelance Marketing Research consultants from Toptal for their most strategic marketing research initiatives.

Marcello Sasso

Marcello has 24 years of experience in market research and strategic planning. He has helped Forbes Top 50 companies make more informed decisions concerning CX/UX, new product development, branding, and go-to-market strategies. He also has a global background and extensive multinational market research experience. Marcello enjoys freelancing as it allows him to serve different industries and provide diversified expertise.

Alex is a business intelligence and customer insight expert who helped raise over $200 million in funding as VP of marketing and sales at a venture-backed startup which eventually went public. He has broad experience developing business plans, market research, product development and deployment in mobile telecoms, advertising, and digital collaboration platforms. Alex loves freelancing because of the freedom and opportunity to cooperate on exciting projects worldwide and across industries.

Vincent Grandjean

Vincent has experience as a management consultant, entrepreneur, and general manager. After his first assignments in Europe, he gained extensive knowledge of emerging markets in North Africa and the Middle East. His primary skills include market research, market entry strategy, business planning, organization restructuring, controlling, and performance management. Vincent has carried out projects in numerous contexts but specializes in consumer packaged goods (CPG) and industrial sectors.

Discover More Market Research Analysts in the Toptal Network

Toptal Connects the Top 3% of Freelance Talent All Over The World.

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• Create new account

Market Research Analyst

Market research analysts study consumer preferences, business conditions, and other factors to assess potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.

Market research analysts typically do the following:

• Monitor and forecast marketing and sales trends
• Measure the effectiveness of marketing programs and strategies
• Devise and evaluate methods for collecting data, such as surveys, questionnaires, and opinion polls
• Gather data on consumers, competitors, and market conditions
• Analyze data using statistical software
• Convert data and findings into tables, graphs, and written reports
• Prepare reports and present results to clients and management

Market research analysts gather data and study other information to help a company promote its products or services. They gather data on consumer buying habits, demographics, needs, and preferences. They collect data and information using a variety of methods, such as focus groups, interviews, literature reviews, market analysis surveys, public opinion polls, and questionnaires.

Analysts help determine a company’s position in the marketplace by researching their competitors and studying their marketing methods, prices, and sales. Using this information, analysts may determine potential markets, product demand, and pricing. Their knowledge of the targeted consumer enables analysts to develop advertising brochures and commercials, product promotions, and sales plans.

Market research analysts evaluate data using statistical techniques and software. They must interpret what the data mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research.

Workers who design and conduct surveys that market research analysts use are survey researchers.

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

Because most industries use market research, these analysts are employed throughout the economy.

Market research analysts work individually or as part of a team, collecting, analyzing, and presenting data. For example, some analysts work with graphic designers and artists to create charts, graphs, and infographics summarizing their research and findings.

Work Schedules

Most market research analysts work full time during regular business hours.

Market research analysts typically need a bachelor’s degree. Some employers require or prefer that job candidates have a master’s degree. Strong research and analytical skills are essential.

Market research analysts typically need a bachelor's degree in market research or a related business, communications, or social science field.

Courses in statistics, research methods, and marketing are important for prospective analysts. Courses in communications and social sciences, such as economics or consumer behavior, are also helpful.

Some employers of market research analysts require or prefer a master’s degree. Several schools offer graduate programs in marketing research, but analysts may choose to complete a bachelor’s degree in another field, such as statistics and marketing, and earn a master’s degree in business administration (MBA). A master’s degree is often required for leadership positions or positions that perform more technical research.

Licenses, Certifications, and Registrations

Analysts may pursue certification, which is voluntary, to demonstrate a level of professional competency. The  Insights Association  offers several certifications for market research analysts, including the IPC Principal and the IPC Masters. Candidates qualify based on industry experience and passing an exam.

Other Experience

Completing an internship while in school may be helpful. Prospective analysts also may gain experience by volunteering for an organization and helping with market research or related projects.

Employers may prefer to hire candidates who have experience in other positions that require collecting and analyzing data or writing reports to summarize research. 

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

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

Market research analysts should also possess the following specific qualities:

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

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

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

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

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

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

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

About 99,800 openings for market research analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. 

Employment growth will be driven by an increasing use of data and market research across many industries. These workers will be needed to help understand the needs and wants of customers, measure the effectiveness of marketing and business strategies, and identify the factors affecting product demand.

The increase in the collection and analyses of big data—extremely large sets of information, such as social media comments or online product reviews—can provide insight on consumer behaviors and preferences. Businesses will need market research analysts to conduct analyses of the data and information.

For more information about market research analysts, visit

Insights Association

For resources and information about qualitative research, visit

Qualitative Research Consultants Association  (QRCA)

Where does this information come from?

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

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

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

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

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

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

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

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Market Research Analyst Job Description

A template to quickly document the role and responsibilities for this position.

• Estimated time required: 2 hours
• Skills required: Business writing

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Market Research Job Description

Market research duties & responsibilities.

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

Sample responsibilities for this position include:

Market Research Qualifications

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

Licensing or Certifications for Market Research

List any licenses or certifications required by the position: CPM, SPSS, SAS, PMP, BHBIA, ESRI, MACC, AER, LEED, CT

Education for Market Research

Typically a job would require a certain level of education.

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

Skills for Market Research

Desired skills for market research include:

Desired experience for market research includes:

Market Research Examples

• Microsoft Word (.docx) .DOCX
• PDF Document (.pdf) .PDF
• Image File (.png) .PNG
• Forecast and track marketing and sales trends
• Work closely with sales and marketing, developing consultative relationships with this staff and strategic plans
• Interpreting what the data means, forecasting future trends and providing regular reporting of findings and recommendations
• Applying qualitative and quantitative techniques to gather and interpreting the data to produce substantiated recommendations
• Utilize various research databases to provide national and market-level quantitative and qualitative data for client pitches
• Create national and local market-level based data driven presentations that meet the client’s objectives
• Defines and prioritizes appropriate and necessary sales learning services with dealers and districts based on annual business planning cycle
• Determine learning activities that best serve dealer/district business goals
• Develop planning actions plus subsequent advertising and training programs that directly impact meeting sales forecast
• Assist in execution of planned learning and training activities
• Familiar with programming and fielding online surveys using softwares such as Confirmit, Vovici, SurveyMonkey, Qualtrics
• Bachelor’s degree in a quantitative field of study
• Some writing experience
• At least 5 years of experience in Market Research vendor management (RFP development, vendor vetting, contract management, project management, post mortem, qualitative, quantitative, competitive)
• At least 5 years of experience in design of research, execution of research, and dissemination of find
• At least 5 years of survey and question development (survey design, question development, survey coding)
• Communicate with and coordinate product group and internal support resources to meet field driven product/skills training, dealer sales career development, and overall planning support
• Analyze and critique post program results to determine if goals were met
• Work as a team with dealer and field personnel to gain maximum benefit from company resources
• Direct marketing services at dealer level to support business unit/dealer/district specified learning programs
• Review benefits from focused approach
• Understand the scope, functionality, and availability of market and product research tools and research reports
• Identify and track meaningful market and product trends occurring in the investment management marketplace
• Execute and summarize research surveys of institutional sales force and client-facing portfolio specialists to systematically gather market intelligence
• Communicate effectively to various types of audiences, through both verbal and written means
• Develop reports and informational decks based on third-party sources and/or original research conducted that display and understanding of underlying content, recognition of target audience, and awareness of timetables
• Creatively designs and develops new tools, methodologies and approaches for analysis and data management, in support of clients, with an eye for re-use and/or expansion
• Familiar with statistical or crosstabulation software application
• Master’s Degree preferably in Market Research, Business, Marketing or Communications
• Be enrolled in a four year accredited university in commutable proximity to our NYC office
• Technical knowledge of game development is a plus
• Bachelors or Master Degree in related field – MBA, Math/Statistics, Marketing, Marketing Research
• Prepare sales deck slides for sales pitches
• Direct, design, implement, and analyze quantitative market research projects
• Collect and analyze data using basic research techniques
• Deliver insights from survey data that impact the success of your client's business
• Build client relationships as a "trusted advisor" in order to solve critical business problems
• Strategically suggest research solutions and studies to further client success
• Consultatively deliver against client key performance indicators
• Manage and influence across internal and external clients
• A minimum of 2 - 3 years in a quantitative research role
• A flair for building new relationships and nurturing existing relationships with internal and external clients
• Be able to translate complex information into presentable results to client
• 3 years' experience in Market Research using qualitative and quantitative methods, preferable for a multinational company
• Knowledge of competitive and Market Analysis tools and statistics
• Available to work 40 hours a week for 6 months, start date ASAP, post grads and December grads will be considered
• Bachelor's or Advanced Degree in Business, Mathematics, and/or a related field
• Solid analytic and critical thinking skills
• Analyzes data and recommends specific actions based on findings
• Examines and analyzes statistical data to forecast future marketing trends
• Collects data on consumer preferences and buying habits
• Prepares and presents reports and graphic illustrations of findings
• Act as market intelligence advisor to a wide variety of internal business clients, including Product Management, Marketing, Recruitment, Student Experience, Academic Leadership, and Senior Management to interpret research findings in the context of critical business needs and to apply this knowledge in developing and improving business strategy
• Support all phases of research projects including consulting with internal clients to identify research questions, recommending methodological approach, evaluating internal and external resource options, managing project execution and results analysis, developing presentations, and disseminating results to business teams
• Support a team of diverse clients and research vendors
• Work on research projects from initial idea/concept to implementation
• Participate in innovation and process improvement efforts within the Market & Business Insights (MBI) team
• Assist in managing department and project budgets
• Bachelor Degree in Marketing, Business, Advertising, Psychology or related field
• 2-3 years working experience in Market Research using primary research surveys, secondary and/or syndicated data
• 2-3 years of experience with key Media analytics tools, such as Nielsen, MRI, Kantar, comScore, Scarborough, Omniture/Adobe and/or other specialized tools
• Experience in the media industry, such as working with or for a media company, consulting firm, an ad agency or a market/media research company is preferred, but not required
• Minimum of a Bachelor's Degree in Business (Marketing) or Educational (Instructional Design), with prior experience in dealer learning development work in a Distribution Services Division or Business Unit Division
• Proven competency in launching and delivering multiple learning projects/programs
• Apply various Market Strategies methodologies to research projects
• Demonstrate understanding of survey sampling concepts, their impact, and use
• Draft questionnaires using Market Strategies’ preferred questionnaire writing processes
• Use Market Strategies tools and/or technology to format survey and prepare for programming
• Monitor the quality of the data and discard non qualified respondents (set and apply strike criteria)
• Perform phases of the data analysis plan using necessary tools with guidance from experienced Analyst team members
• Analyze research results and create graphical displays to convey the implications of the data
• Extract qualitative findings from transcripts or summaries of Focus Groups/IDIs
• Complete in-depth interviews (IDIs) or assist with Focus Groups
• Share insight research across director teams within CMI, including Wireless, Wireline (TV/Broadband), New Product, and Total Experience/Shopper teams
• Completion of a Bachelor’s degree – preferably in Mathematics, Finance, Economics, Marketing, Statistics, Computer Science or a related field – is required
• Approximately three to five years of experience in the financial services industry is necessary to successfully perform the responsibilities of this position
• Must possess keen analytical skills which are required for reviewing market information, interpreting results, and identifying the most relevant details
• Effective verbal and written communication is required
• Must be capable of working with data, visualizing an output, and executing efficiently and clearly from model to distributed report
• Experience in working with institutional and/or retail investment products and related marketing research databases/ software systems is strongly preferred

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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.

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Job Description

Market Research Analyst job description

Example market research analyst requirements on a job description.

• Bachelor's degree in Marketing, Business or related field
• Proven experience in market research and analysis
• Strong analytical and statistical skills
• Proficient in statistical software and data analysis tools (SPSS, SAS, etc.)
• Excellent written and verbal communication skills
• Ability to work independently and as part of a team
• Strong attention to detail and accuracy
• Ability to think creatively and strategically
• Strong problem-solving skills
• Excellent interpersonal skills

Market Research Analyst job description example 1

Holman enterprises market research analyst job description, market research analyst job description example 2, cox media group market research analyst job description, market research analyst job description example 3, redrover: talent exchange market research analyst job description, resources for employers posting market research analyst jobs.

Market Research Analyst job description FAQs

What are the most common skills on a job description for a market research analyst, what does a market research analyst do.

Updated March 14, 2024

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What Does a Market Research Analyst Do?

Learn About the Salary, Required Skills, & More

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Market Research Analyst Salary

• Education, Training & Certification
• Skills & Competencies

Job Outlook

Work environment, work schedule, comparing similar jobs.

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

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

Market Research Analyst Duties & Responsibilities

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

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

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

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

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

Education, Training & Certification

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

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

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

Market Research Analyst Skills & Competencies

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

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

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

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

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

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

How to Get the Job

LEARN AND APPLY:

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

DRAFT THE PERFECT RESUME:

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

INCLUDE RELEVANT SKILLS IN YOUR COVER LETTER:

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

Here's the estimated annual earning for similar occupations.

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Market Research Specialist

Job description overview.

A Market Research Specialist job description involves researching, collecting and analyzing data to help companies better understand their customers, goals and competition. Using various methods such as surveys, focus groups, and online analytics, the specialist is responsible for identifying market trends, consumer preferences and behavior, and competitive landscape.

The specialist is responsible for writing reports and making recommendations that guide strategic decision-making, such as product development, pricing, and marketing campaigns. The specialist needs to stay up-to-date on the latest research methodologies and data analysis tools in order to provide accurate insights.

Strong communication skills are crucial for this role, as the specialist must present findings to stakeholders in a clear and concise manner. A bachelor's degree in marketing, business, or a related field is typically required, along with experience in market research or data analysis.

In conclusion, a Market Research Specialist job description entails conducting market research on behalf of companies to inform business decision-making.

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Table of contents, job duties and responsibilities.

• Gather and analyze data about consumers and the competition
• Create surveys, questionnaires, and focus groups to collect data
• Interpret data and draw conclusions to provide insights
• Develop recommendations based on findings to improve marketing strategies
• Track and report on market trends and changes
• Collaborate with marketing teams to develop and execute plans
• Conduct keyword research to inform SEO strategies
• Stay up-to-date on industry news, trends, and technology developments
• Present findings and recommendations to stakeholders in clear and concise language.

Experience and Education Requirements

To become a Market Research Specialist in the marketing industry, employers generally require a combination of education and experience. You will need at minimum a bachelor's degree in marketing, economics, statistics, or a related field. Some employers may prefer a master's degree for senior roles. To gain experience, you can seek internships, entry-level positions, or work in related fields like data analysis or customer service. On the job, you will develop skills in data collection, analysis, and presentation. You should also have strong communication and critical thinking skills and be able to work independently or as part of a team. A Market Research Specialist can expect to earn an average salary of $60,000-$80,000 per year.

Salary Range

Market Research Specialist salary range can vary depending on factors such as years of experience, location, and industry. In the United States, the average salary for a Market Research Specialist is around $60,000 to $80,000 per year, according to Glassdoor. In Canada, the average salary is around CAD 57,000 to CAD 76,000 per year, as reported on Neuvoo.

However, those with more experience and expertise in the field can potentially earn up to six figures. Furthermore, location can play a significant role, with big metropolitan areas such as New York City and San Francisco offering higher salaries due to a higher cost of living.

• https://www.glassdoor.com/Salaries/market-research-specialist-salary-SRCH_KO0,27.htm
• https://neuvoo.ca/salary/market-research-specialist/

Career Outlook

The career outlook for a Market Research Specialist in the Marketing industry seems to be growing over the next five years, according to the Bureau of Labor Statistics. They predict that employment in this field will grow 18% from 2019 to 2029, which is much faster than the average for all occupations. This growth can be attributed to the increasing importance of consumer data analysis to businesses. As companies become more data-driven, Market Research Specialists will be in demand to help organizations understand their target market and customer behavior. Therefore, it's a good time for anyone interested in pursuing a career in Market Research to enter this field as the job prospects are promising for the next few years.

Frequently Asked Questions (FAQ)

Q: What does a Market Research Specialist do?

A: A Market Research Specialist is responsible for designing, implementing, and analyzing research studies aimed at gathering and interpreting data related to consumer behavior, market trends, and product demand. They provide insights to help businesses in their decision-making process.

Q: What skills do I need to become a Market Research Specialist?

A: A Market Research Specialist must have excellent analytical and statistical skills, as well as knowledge of research methods and techniques. Strong communication and problem-solving skills are also important to effectively convey data-driven insights to business stakeholders.

Q: What are the career prospects for a Market Research Specialist?

A: With more and more businesses relying on data to make informed decisions, the demand for Market Research Specialists is expected to grow. There are ample opportunities for career advancement, including becoming a manager or director, or branching out into related fields such as marketing or data analytics.

Q: What type of companies employ Market Research Specialists?

A: Any business that wants to gain insights into consumer behavior and market trends would benefit from employing a Market Research Specialist. These can include product companies, service companies, advertising agencies, market research firms, and consulting firms.

Q: What qualification do I need to become a Market Research Specialist?

A: A bachelor's degree in marketing, statistics, mathematics or a related field is generally required to become a Market Research Specialist. A master's degree in a related field may also be preferred by some employers. Additionally, industry certification such as the Professional Researcher Certification (PRC) offered by the Insights Association can help demonstrate your expertise in the field.

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