A marketing research analyst reviews a large amount of data, analyzing it to answer three major questions: What product does the market want? Who are the consumers that would purchase such a product? How much would consumers pay for the product? Their main goal is to help the company's profits grow over time by using available data. They analyze interviews, collect prospective consumer data via surveys, and include relevant statistics in a final report for their clients or management team. Most analysts work during regular business hours in an office setting, although overtime may be required on time-sensitive projects.
Market research analysts typically have a bachelor’s degree in marketing; however, some analysts may have a bachelor's degree in math, computer science, business, or another field. Research analysts can also receive certification from the Market Research Association in lieu of a bachelor's degree, depending on their education and work experience; this certification must be renewed every two years.
Market Research Analyst Tasks
- Conduct research market conditions in specific areas, and analyze customer preferences to determine potential sales of a product or service.
- Gather data on competitors and past sales to analyze prices and methods of marketing and distribution.
- Assist in the development of marketing plans.
- Track and analyze marketing and sales trends, forecasts and prepare reports in order to measure the effectiveness of programs.