What Do Market Research Analysts Do (including Their Typical Day At Work)

Job Description

Market Research Analysts 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. They also prepare reports of findings, illustrating data graphically and translating complex findings into written text.

Other tasks include:

• 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.
• Devise and evaluate methods and procedures for collecting data, such as surveys, opinion polls, or questionnaires, or arrange to obtain existing data.
• Measure the effectiveness of marketing, advertising, and communications programs and strategies.
• Seek and provide information to help companies determine their position in the marketplace.

We asked Market Research Analysts how satisfied they are with their job. Here is what they said.

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68% of them said they were satisfied with their job and 41% said they find that their job makes the world a better place or helps to make someone else’s life better.

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Typical Day At Work

On a daily basis, Market Research Analysts monitor industry statistics and follow trends in trade literature. They 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.
• Devise and evaluate methods and procedures for collecting data, such as surveys, opinion polls, or questionnaires, or arrange to obtain existing data.
• Measure the effectiveness of marketing, advertising, and communications programs and strategies.
• Gather data on competitors and analyze their prices, sales, and method of marketing and distribution.
• Prepare reports of findings, illustrating data graphically and translating complex findings into written text.

We asked some Market Research Analysts a few questions to find out what else does their work day look like. Here is what we found.

	Do you have telephone conversations everyday in this job?	88% said yes
	How important is it to work in a team in this job?	25% said very important
	Do you have group discussions everyday in this job?	54% said yes
	Do you talk or work with customers everyday in this job?	13% said yes
	Do you have to deal with angry customers everyday in this job?	0% said yes
	Do you have to make decisions everyday in this job?	25% said yes

Other responsibilities

Besides their typical day, Market Research Analysts also attend staff conferences to provide management with information and proposals concerning the promotion, distribution, design, and pricing of company products or services. They may also forecast and track marketing and sales trends, analyzing collected data.

On a weekly to monthly basis, Market Research Analysts Prepare reports of findings, illustrating data graphically and translating complex findings into written text. They might also Seek and provide information to help companies determine their position in the marketplace.

In addition, they Collect and analyze data on customer demographics, preferences, needs, and buying habits to identify potential markets and factors affecting product demand.

Although specific duties may vary, many of them Conduct research on consumer opinions and marketing strategies, collaborating with marketing professionals, statisticians, pollsters, and other professionals.

To some Market Research Analysts, it is also their responsibility to Measure the effectiveness of marketing, advertising, and communications programs and strategies.

Working life

More than 40 hours per week

Regular schedule like a 9 to 5

In a typical work week as a Market Research Analyst and Marketing Specialist, you can expect to work more than 40 hours per week.

Is this right for me

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.

You can read more about these career personality types here.

Explore other careers

http://www.bls.gov/OOH/business-and-financial/market-research-analysts.htm

https://www.casro.org/

http://www.marketingresearch.org/