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Market Research Analysts
Market Research Analysts research conditions in local, regional, national, or online markets. Gather information to determine potential sales of a product or service, or plan a marketing or advertising campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution. May employ search marketing tactics, analyze web metrics, and develop recommendations to increase search engine ranking and visibility to target markets.
Table of Contents
Job description
Market Research Analysts and Marketing Specialists research market conditions in local, regional, or national areas, or gather information to determine potential sales of a product or service, or create a marketing campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution.
- Prepare reports of findings, illustrating data graphically and translating complex findings into written text.
- Collect and analyze data on customer demographics, preferences, needs, and buying habits to identify potential markets and factors affecting product demand.
- Conduct research on consumer opinions and marketing strategies, collaborating with marketing professionals, statisticians, pollsters, and other professionals.
- Measure and assess customer and employee satisfaction.
Salary
Market Research Analysts with little to no experience tend to make between $34310 and $46360 while the more experienced ones can earn over $88680 per year.
| Top 5 paying states | Hourly | Annual |
|---|---|---|
| NJ | $42 | $87,210 |
| DE | $40 | $82,890 |
| WA | $39 | $81,890 |
| DC | $38 | $79,770 |
| TX | $38 | $78,200 |
One of the easiest ways to increase your salary as a Market Research Analyst and Marketing Specialist is to move to a higher paying state like NJ. Right now, the highest paying states for Market Research Analysts are NJ, DE, WA, DC and TX.
However, a higher pay at NJ doesn’t guarantee that you will make more because the living expenses at NJ might be twice as high than where you are currently at now.
Three other factors that can increase your salary as a Market Research Analyst and Marketing Specialist is the degree you hold, the industry you work in, and lastly the company you work for.
Requirements
We asked other Market Research Analysts what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a Master’s Degree.
Other than that, we also asked them what did they major in and here are the most popular majors that came up.
| Consumer Merchandising/Retailing Management |
| Applied Economics |
| Marketing/Marketing Management, General |
| Marketing Research |
| International Marketing |
Pros and Cons
Here are some of the pros and cons of being a Market Research Analyst and Marketing Specialist.
| PROS |
|---|
| Suitable for people who likes to solve problems mentally |
| Suitable for people who values achievements and are results-oriented |
| This career is perfect for people who love to work indoors. |
| Very good salary |
| Normal working hours (40 hours per week) |
| CONS |
|---|
| Not suitable for people who likes to help and teach others |
| It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career. |
What is the job like
68% of Market Research Analysts said they were satisfied with their job and 41% said they feel like their job is making other people’s lives better.
Is this right for me
You can read more about these career personality types here.
People who are suitable for this job tends to like working with ideas, and require an extensive amount of thinking. They like searching for facts and figuring out problems mentally..
They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.
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Related career information
Market Research Analysts job description, Market Research Analysts salary, Market Research Analysts information, what is the job of a Market Research Analyst and Marketing Specialist like, pros and cons about Market Research Analysts and Marketing Specialists, colleges and universities for Market Research Analysts and Marketing Specialists, is Market Research Analysts and Marketing Specialists the right career for me, careers in Business and Finance
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