The field of market research analysts is booming with growth, as many more organizations are demanding research to keep abreast of consumer data and buying habits. If you are a detail-oriented person who enjoys analyzing information, you may want to consider a career in this field.
Market research analysts study the current market conditions in order to gauge the potential sales of a product or service.
Market research analysts typically perform the following:
- Analyze the needs and wants of an organization’s customers to measure the effectiveness of marketing and business strategies
- Gather information on competitors, prices, sales and methods of marketing and distribution
- Prepare reports of findings to translate what the information means and how it can be used
- Determine and evaluate methods for collecting data such as surveys, opinion polls or questionnaires
Market research analysts with a master’s degree can expect to earn approximately $61,290 annually with projected job growth in their field at 22% through 2022 – much faster than average occupations.
Because market research is in such high demand, a variety of industries are employing analysts. Most work full time during regular business hours in an office.
Want to be a market research analyst? Check out Spring Arbor University’s online Master of Arts in Communication.