Market Research Analyst

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 about consumers, competitors, and market conditions
Analyze data using statistical software
Convert complex data and findings into understandable tables, graphs, and written reports
Prepare reports and present results to clients and management

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

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

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

Workers who design and conduct surveys are known as survey researchers.

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Market research analysts typically have an interest in the Thinker, Persuader and Organiser interest areas, according to the Holland Code framework. The Thinker interest area indicates a focus on researching, investigating, and increasing the understanding of natural laws. The Persuader interest area indicates a focus on influencing, motivating, and selling to other people. The Organiser 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 Thinker or Persuader or Organiser 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.

Advertising, promotions, and marketing managers plan programs to generate interest in a product or service. They work with art directors, sales agents, and financial staff members.

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Arbitrators, mediators, and conciliators help resolve conflicts outside of the court system by facilitating negotiation and dialogue between disputing parties.

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Editors plan, review, and revise content for publication.

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Lawyers advise and represent individuals, businesses, and government agencies on legal issues and disputes.

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Political scientists study the origin, development, and operation of political systems. They research political ideas and analyze governments, policies, political trends, and related issues.

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Psychologists study cognitive, emotional, and social processes and human behavior by observing, interpreting, and recording how people relate to one another and their environments.

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Public relations specialists create and maintain a favorable public image for the organization they represent. They design media releases to shape public perception of their organization and to increase awareness of its work and goals.

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Reporters, correspondents, and broadcast news analysts inform the public about news and events happening internationally, nationally, and locally. They report the news for newspapers, magazines, websites, television, and radio.

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Sales engineers sell complex scientific and technological products or services to businesses. They must have extensive knowledge of the products’ parts and functions and must understand the scientific processes that make these products work.

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Sales managers direct sales teams of organizations. They set sales goals, analyze data, and develop training programs for the sales representatives of the organization.

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Sociologists study society and social behavior by examining the groups, cultures, organizations, social institutions, and processes that people develop.

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Writers and authors develop original written content for advertisements, books, magazines, movie and television scripts, songs, and online publications.

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