How to become a market research analyst

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.

Responsibilities

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

Average salaries

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.

Work environment

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.

College degree

Want to be a market research analyst? Check out Spring Arbor University’s online Master of Arts in Communication.