Market research analysts sift through data and work in all kinds of industries.
Career Paths | ENTJ | Investigative Occupations

What Do Market Research Analysts Do?

Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.

This is a good job fit for people who want to work with ideas and information. It involves analyzing data and making decisions based on that data, not how you feel.

Market research is a traditional job with a set way of doing things. It doesn’t deal directly with people, but with numbers and systems of measuring the numbers.

Other Job Titles for Market Research Analysts

  • Demographic Analyst
  • Market Analyst
  • Market Research Consultant
  • Market Research Specialist
  • Market Researcher
  • Marketing Research Coordinator

Market Research Analyst Job Duties

Market research analysts 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.

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 on 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

They Want to Find Out Why You Buy.

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 mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research.

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

Is Being a Market Research Analyst a Good Job?

This is a good career choice for people who want to make decisions based on tangible information and proven systems of collecting that data.

O*NET Interest Profiler Results

investigative job

If your O-NET Interest Profiler results listed investigative as the primary interest and enterprising as second, a career as a market research analyst could appeal to you. See other investigative jobs.

You can learn more about the free career test here. 

You Like Analyzing People, Not Interacting With Them

According to O*NET Interest Profiler categories, investigative occupations frequently involve working with ideas, and require an extensive amount of thinking.

These occupations can involve searching for facts and figuring out problems mentally.

As a market research analyst, you’ll have to research and develop action plans based on that research.

The Decisions are in the Data

The job falls into a secondary interest of enterprising.

Enterprising means this job frequently involves starting up and carrying out projects.

Enterprising occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

Market Research Analyst

ENTJ commander

If your Meyers-Briggs personality type is ENTJ, a job as a market research analyst should be on your list of possible occupations.

As an ENTJ you like to be challenged at work. Whether you are climbing the career ladder or looking to make a name for yourself in your field, ENTJs are natural leaders.

You enjoy working with many people with varied backgrounds under the assumption that you will reach a common goal. As a market research analyst, your findings will help the organization make better business decisions.

Don’t know your personality type? You can take a free personality test at 16Personalities.

Soft Skills Needed to be a Market Research Analyst

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

To determine what marketing strategy would work best for a company, market research analysts must assess all available information.

Detail Oriented 

Market research analysts must be detail oriented because they often do precise data analysis.

Where Market Research Analysts Work

Market Research Analysts work in all kinds of industries.

Market research analysts held about 678,500 jobs in 2019.

Because most industries use market research, these analysts are employed throughout the economy.

Market research analysts can work individually or as part of a team, collecting, analyzing, and presenting data.

For example, some analysts may work with graphic designers and artists to create charts, graphs, and infographics summarizing the research and findings.

Work Schedules

Most market research analysts work full time during regular business hours. Some, however, work under pressure of deadlines and tight schedules, which may require additional hours of work.

How To Become a Marketing Research Analyst

Most market research analysts need at least a bachelor’s degree. Some research positions may require a master’s degree. Strong math and analytical skills are essential.

Education

Market research analysts typically need a bachelor’s degree in market research or a related field. Many have degrees in fields such as statistics, math, or computer science. Others have backgrounds in business administration, the social sciences, or communications.

Courses in statistics, research methods, and marketing are essential for these workers. Courses in communications and social sciences, such as economics or consumer behavior, are also important.

Some market research analyst jobs require a master’s degree.

Several schools offer graduate programs in marketing research, but many analysts complete degrees in other fields, such as statistics and marketing, and/or earn a master’s degree in business administration (MBA).

A master’s degree is often required for leadership positions or positions that perform more technical research.

Licenses, Certifications, and Registrations

Certification is voluntary, but analysts may pursue certification to demonstrate a level of professional competency. The Marketing Research Association offers the Professional Researcher Certification (PRC) for market research analysts.

Candidates qualify on the basis of experience and knowledge; they must pass an exam, have at least 3 years working in opinion and marketing research, and complete 12 hours of industry-related education courses.

Individuals must complete 20 hours of industry-related continuing education courses every 2 years to renew their certification.

Market Research Analyst Resume Examples

Market Research Cover Letter Example

Here is a MSWord cover letter example we wrote for a market research analyst. It follows our recommended 3-paragraph cover letter.

How Much Does a Market Research Analyst Make?

The average annual wage for market research analysts was $71,570 in May 2019 according to BLS.gov. The annual median salary in 2019 was $63,790 for the same year.

The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less.

The lowest 10 percent earned less than $34,350, and the highest 10 percent earned more than $122,630.

2019 Median Salary for Market Research Analysts By State

State
Region
#
Employed
2019
Median
Delaware2,030$83,280
New Jersey20,400$81,800
Washington22,710$77,460
District of Columbia7,110$75,400
New York68,680$72,750
California98,760$70,620
Minnesota15,120$70,240
Rhode Island2,490$69,360
Connecticut7,830$67,750
Massachusetts21,260$67,520
Colorado20,330$67,110
Texas35,030$66,930
Alaska280$66,480
Virginia21,320$66,290
North Carolina18,430$64,440
Oregon7,650$63,910
Maine810$63,460
Georgia21,300$63,250
Pennsylvania25,380$62,490
New Hampshire2,420$62,470
Arkansas4,630$62,320
Maryland11,210$62,130
Michigan18,840$61,690
Ohio26,410$60,700
Illinois33,670$60,620
Kansas6,470$58,200
Nevada3,360$57,920
Arizona14,260$57,480
Iowa5,660$57,090
Vermont1,230$55,890
Wisconsin13,140$55,520
Tennessee8,970$55,410
South Carolina6,770$55,040
Missouri10,040$55,010
Florida40,480$54,790
Montana1,470$54,360
Alabama4,410$53,800
Hawaii**$53,710
Indiana10,600$53,550
Kentucky5,350$53,530
Oklahoma5,250$53,290
Nebraska3,290$52,750
South Dakota1,100$52,440
New Mexico1,880$52,080
Idaho1,880$51,530
North Dakota1,250$51,110
Utah8,370$50,360
Wyoming390$50,180
Louisiana3,200$49,480
West Virginia1,080$43,680
Mississippi2,580$42,350
Virgin Islands60$40,550
Guam90$34,720
Puerto Rico1,550$26,150

Most market research analysts work full time during regular business hours. Some, however, work under pressure of deadlines and tight schedules, which may require additional hours of work.

Job Outlook is Exceptionally Bright

Employment of market research analysts is projected to grow 20 percent from 2018 to 2028, much faster than the average for all occupations.

Employment growth will be driven by an increasing use of data and market research across many industries.

Companies Want to Understand Customers

They will be needed to help understand the needs and wants of customers, measure the effectiveness of marketing and business strategies, and identify the factors affecting product demand.

Market research provides companies and organizations with an opportunity to increase sales and cut costs.

More Sales, Less Waste

Companies increasingly use research on consumer behavior to develop improved marketing strategies. By doing so, companies are better able to market directly to their target population.

Market research also lets companies monitor customer satisfaction and gather feedback about how to improve products or services, allowing companies to build an advantage over their competitors.

They may use research to decide the location of stores, placement of products, and services offered.

Break Down Big Data

The increase in the collection and analyses of “big data”—extremely large sets of information, such as social media comments or online product reviews—can provide insight on consumer behaviors and preferences.

Businesses will need market research analysts to conduct analyses of the data and information.

Job Prospects

Job prospects should be best for those with a master’s degree in market research, marketing, statistics, or business administration.

Those with a strong quantitative background in statistical and data analysis or related work experience will have better job opportunities than those without it.

For more information about market research analysts, visit

Insights Association

Job description and salary data is from the Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Market Research Analysts, 

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