Market Research Analysts
Market research analysts gather data to help organizations make decisions about products and services.
Market research analysts gather information from two broad areas. They look at consumer wants and needs, and trends in industry and government purchases.
Market Research Analysts are in the Marketing, Sales, and Service career cluster and the Market Research pathway.
Quick Facts
Wages: |
Well above the statewide median
$32.28 / hour Read more about wages |
Outlook: |
Percent Growth
32.7% Well above statewide average Read more about outlook |
Education & Training: |
Bachelor's degree is common. |
On the Job: |
Work Activities
Assess your skills |
Job Title Examples: |
Business Development Specialist,
Client Service and Consulting Manager,
Client Services Vice President
See more job title examples |
Source: Minnesota Department of Education, Minnesota Department of Employment and Economic Development, and CareerOneStop.
Wages & Outlook
Wages
Earnings depend on the worker's level of education and responsibility. The size of the firm also affects wages. In general, market research analysts who work at large firms earn the most.
Market research analysts who work full time usually receive benefits. Typical benefits include health insurance, a retirement plan, sick leave, and paid vacation.
View the Regional Wage Comparison Chart for:
Employment
In Minnesota, about 7,003 market research analysts work in this medium-sized occupation.
Most market researchers work for large corporations, advertising agencies, and private research organizations. Most large corporations that employ analysts are in major cities, such as New York, Los Angeles, or Chicago.
Major employers:
- Market research companies
- Finance and insurance companies
- Information companies
- Wholesale trade companies
- Business management companies
Outlook
Companies will continue to try to expand their markets. They will use more market research to attempt to determine who their products appeal to. However, many companies do not have researchers on staff. As a result, many new jobs will be created at market research companies as they set up contracts with more business.
Research analysts who have advanced degrees will be in demand by financial services. The health care and manufacturing industries will also be looking for these workers. Analysts who have a bachelor's degree and strong skills in statistics, computer science, and survey design should also have good opportunities.
| Employment | Employment Change | |||
|---|---|---|---|---|
| 2010 | 2020 | Number | Percent | |
| Minnesota | 8,045 | 10,679 | 2,634 | 32.7% |
| 2010 | 2020 | Number | Percent | |
| Central Minnesota | 220 | 311 | 91 | 41.4% |
| Northeast Minnesota | 138 | 181 | 43 | 31.2% |
| Northwest Minnesota | 175 | 240 | 65 | 37.1% |
| Southeast Minnesota | 253 | 344 | 91 | 36% |
| Southwest Minnesota | 257 | 303 | 46 | 17.9% |
| Seven County Mpls-St Paul, MN | 7,064 | 9,292 | 2,228 | 31.5% |
Source: Minnesota Department of Employment and Economic Development and Minnesota Department of Education.
On the Job
Overview
Market research analysts gather data to help organizations make decisions about products and services.
Did you ever try "clear" Pepsi? It was marketed in the 1990s. At first, it was a novelty to be drinking Pepsi that was transparent. Then, the novelty faded, and most everyone went back to the standard Pepsi. After all, the only difference was that it was clear. Otherwise, it was exactly the same - same taste, same calories, nearly all the same ingredients.
In some ways, market research correctly predicted the trend. Items offered in "clear" were deemed cool at the time. However, market research wasn't done about what else clear Pepsi should offer to keep people buying it. Do people like things just because they're different? Or do they want other benefits too? Apparently, just being cool isn't enough to keep a product on the shelves. Perhaps with additional market research, clear Pepsi might have enjoyed a better fate.Market research analysts gather information from two broad areas. They look at consumer wants and needs, and trends in industry and government purchases. The research methods used for each area are different. For this reason, market analysts usually specialize in one area.
In consumer research, analysts begin by consulting with clients or managers. They find out what questions clients want the research to answer. For example, clients may want to know how consumers react to a new advertising campaign or product. Once they know the questions, analysts design their research and plan how to collect data. Market research analysts use many tools to help them gather information. They design surveys that they send to people through the mail or have them fill out in person. They also design surveys that people can fill out on the Internet. Analysts train assistants to gather information by telephone or in person. Focus groups are a popular tool for market researchers. These groups are made up of average people. Analysts show participants new products or ad campaigns and get the group's response. They ask the group questions, have them write down or say their answers, and sometimes film the meeting. Market research analysts who gather consumer data may specialize in advertising or sales.
Market analysts who specialize in industrial trends do not collect new data. Instead, they analyze existing data, such as sales records. In addition to analyzing records, analysts talk with company managers to gather inside data. They read trade journals to get an outsider's perspective. Based on their findings, they make suggestions about what future trends might be, or how industries can attract new customers.
Research analysts often manage projects from beginning to end. They also supervise office workers who tally survey results. Once data is tallied, market research analysts analyze the findings. They use computerized statistical programs to calculate results. They interpret these results into language that their clients will understand. Market research analysts present their findings and recommendations in written reports. They may present reports orally to company directors. Companies often use analysts' findings to make decisions on product or service design, prices, marketing, and distribution.
Some market research analysts conduct opinion polls to sample public attitudes on certain topics. Political leaders and nonprofit groups use this information to assess public support for their ideas.
Work Activities
The following list of occupational tasks is specific to this career.
- Collect consumer data by surveys, interviews, or focus groups.
- Interpret data and write final reports for clients or management.
- Measure and assess customer and employee satisfaction.
- Predict and follow marketing and sales trends.
- Perform research and help companies determine their position in the marketplace.
- Analyze marketing, advertising, and communications programs and strategies.
- Conduct public opinion polls to sample public attitudes on particular topics.
- Make oral presentations of research results.
- Collect industry data by reading financial reports and talking to company managers.
- Develop surveys and other tools for gathering information.
- Monitor industry statistics and trends. Attend staff and outside conferences.
- Develop and follow procedures for identifying advertising needs.
- Supervise other members of the research team.
- Consult with clients or managers about information to be gathered.
- Train people to conduct consumer surveys and interviews.
- Analyze data using computers and statistical methods.
People in this career perform the following list of tasks, but the tasks are common to many occupations.
- Analyze data or information.
- Get information needed to do the job.
- Use computers.
- Explain the meaning of information to others.
- Communicate with supervisors, peers, or subordinates.
- Process information.
- Establish and maintain relationships.
- Make decisions and solve problems.
- Identify objects, actions, and events.
- Update and use job-related knowledge.
- Organize, plan, and prioritize work.
- Document and record information.
- Think creatively.
- Communicate with people from outside the organization.
- Develop goals and strategies.
- Judge the value of objects, services, or people.
- Schedule work and activities.
- Convince others to buy goods or change their minds or actions.
- Provide advice and consultation to others.
- Estimate sizes, quantities, time, cost, or materials needed.
Working Conditions
In a typical work setting, people in this career:
- Have a moderate level of social interaction. They work with clients, focus group members, and coworkers. However, they also spend time alone while analyzing data.
- Are responsible for work outcomes and results of other workers.
- Communicate with coworkers and clients daily by telephone, e-mail, or in person.
- Write letters and memos on a weekly basis.
- Work in a group or as part of a team.
- Work indoors in offices.
- Work with other people, but in a separate office or many feet apart.
- Must be exact in their work in order to provide accurate information.
- Must repeat the same mental activities, such as analyzing data.
- Rarely consult with a supervisor before making a decision. They rarely consult with a supervisor before setting tasks and goals for the day.
- Are moderately competitive with coworkers.
- Must meet strict deadlines on a weekly basis.
- Generally have a set schedule each week.
- Usually work a standard 40-hour week.
- May work overtime to meet project deadlines.
Interpersonal Relationships
Physical Work Conditions
Work Performance
Hours/Travel
Physical Demands
In a typical work setting, people in this career:
- Sit while working at computers.
- Speak clearly so listeners can understand.
- See details of objects that are less than a few feet away.
- Understand the speech of another person.
- See details of objects that are more than a few feet away.
- Use fingers to grasp, move, or assemble very small objects.
- See differences between colors, shades, and brightness.
- Focus on one source of sound and ignore others.
- Hear sounds and recognize the difference between them.
People in this career frequently:
It is important for people in this career to be able to:
It is not as important, but still necessary, for people in this career to be able to:
Source: Minnesota Department of Education.
Education & Training
Preparation
To work as a market research analyst, you typically need to:
- have a high school diploma or GED; and
- have a bachelor's degree.
Education after high school
Most market research analysts have at least a bachelor's degree. Several fields of study provide good training for this occupation. These fields include economics, business, and marketing. You must take math courses such as statistics. It is also helpful for you to study psychology and sociology.
You usually need a bachelor's degree for entry-level research assistant jobs. You need a doctoral degree (Ph.D.) to do advanced research or teach at a college.
Work experience
Working as a research assistant is good experience for this occupation. It is also good to have experience conducting interviews, gathering data, and writing reports.
On-the-job training
Some students complete an internship while in school. This is important work experience for finding a job.
Newly hired market research analysts often receive training. The length of training varies by employer and your skills. Training may last up to one year.
Related Programs (Current training programs available)
- Consumer Merchandising/Retailing Management
- Applied Economics
- Marketing/Marketing Management, General
- Marketing Research
- International Marketing
Fields of Study (What to study to prepare for this career)
Click on any of the Fields of Study listed below to find out more about preparing for this career.
- African Studies
- African-American and Black Studies
- American Studies
- Applied Mathematics
- Asian Studies
- Asian-American Studies
- Business Economics
- Central and Eastern European Studies
- Consumer Economics
- East Asian Studies
- Economics
- International Business, Trade, and Finance
- Latin American Studies
- Latino Studies
- Management Sciences
- Marketing
- Marketing Research
- Mathematics
- Near and Middle Eastern Studies
- Russian Studies
- Sociology
- South and Southeast Asian Studies
- Statistics
- Technical and Business Writing
- Western European Studies
- Women's Studies
Level of Education
The table below lists the level of education attained by a subset of workers in this occupation. The workers surveyed were between age 25 and 44.
| Education level attained | Percentage of workers in this occupation* |
|---|---|
| Less than high school diploma | 0 |
| High school diploma or equivalent | 4 |
| Some college, no degree | 11 |
| Associate degree | 5 |
| Bachelor's degree | 49 |
| Master's degree | 26 |
| Doctoral (Ph.D.) or professional degree | 4 |
* National data for market research analysts and marketing specialists (SOC 13-1161).
Helpful High School Courses
In high school, take classes that prepare you for college. A college preparatory curriculum may be different from your state's graduation requirements.
You should also consider taking some advanced courses in high school. This includes Advanced Placement (AP) and International Baccalaureate (IB) courses if they are available in your school. If you do well in these courses, you may receive college credit for them. Advanced courses can also strengthen your college application.
Helpful electives to take in high school that prepare you for this occupation include:
- Computer Applications
- Economics
- Keyboarding
- Marketing
- Probability and Statistics
- Psychology
- Sociology
The courses listed above are meant to help you create your high school plan. If you have not already done so, talk to a school counselor or parent about the courses you are considering taking.
You should also check with a teacher or counselor to see if work-based learning opportunities are available in your school and community. These might include field trips, job shadowing, internships, and actual work experience. The goal of these activities is to help you connect your school experiences with real-life work.
Join some groups, try some hobbies, or volunteer with an organization that interests you. By participating in activities you can have fun, make new friends, and learn about yourself. Maybe one of them will help direct you to a future career.
Source: Minnesota Department of Education.
Skills
People in this career need to:
- Read and understand written information.
- Express ideas clearly when speaking or writing.
- Listen to others, understand, and ask questions.
- Combine several pieces of information and draw conclusions.
- Use reasoning to discover answers to problems.
- Understand new information or materials by studying and working with them.
- Analyze ideas and use logic to determine their strengths and weaknesses.
- Think of new ideas about a topic.
- Judge the costs and benefits of a possible action.
- Develop rules or follow guidelines for arranging items.
- Notice when something is wrong or is likely to go wrong.
- Concentrate and not be distracted while performing a task.
- Identify problems and review information. Analyze options and apply solutions.
- Add, subtract, multiply, and divide quickly and correctly.
- Manage the time of self and others.
- Check how well one is learning or doing something.
- Decide how to spend money to get the work done and keep track of how the money was used.
- Be aware of others' reactions and change behavior in relation to them.
- Solve problems by bringing others together to discuss differences.
- Persuade others to approach things differently.
- Teach others how to do something using several methods.
- Look for ways to help people.
- Determine the tools and equipment needed to do a job.
Communicate
Reason and Problem Solve
Use Math and Science
Manage Oneself, People, Time and Things
Work with People
Work with Things
Knowledge
People in this career need knowledge in the following areas:
- English Language: Knowledge of the meaning, spelling, and use of the English language.
- Customer and Personal Service: Knowledge of providing special services to customers based on their needs.
- Administration and Management: Knowledge of managing the operations of a business, company, or group.
- Sales and Marketing: Knowledge of advertising and selling products and services.
- Computers and Electronics: Knowledge of computer hardware and software.
- Mathematics: Knowledge of the rules and uses of numbers. Areas of knowledge include arithmetic, algebra, geometry, and statistics.
- Communications and Media: Knowledge of producing, sharing, and delivering information or entertainment. This may be through written, spoken, or visual media.
Interests
People in this career are people who tend to:
- Consider achievement important. They like to see the results of their work and to use their strongest abilities. They like to get a feeling of accomplishment from their work.
- Consider good working conditions important. They like jobs offering steady employment and good pay. They want employment that fits their individual work style. They may prefer doing a variety of tasks, working alone, or being busy all the time.
- Consider support from their employer important. They like to be treated fairly and have supervisors who will back them up. They prefer jobs where they are trained well.
- Consider independence important. They like to make decisions and try out ideas on their own. They prefer jobs where they can plan their work with little supervision.
- Have investigative interests. They like work activities that have to do with ideas and thinking. They like to search for facts and figure out solutions to problems mentally.
- Have enterprising interests. They like work activities that involve starting up and carrying out projects, especially in business. They like to lead and persuade others, make decisions, and take risks for profit.
- Have conventional interests. They like work activities that follow set procedures, routines, and standards. They like to work with data and detail. They prefer working where there is a clear line of authority to follow.
Source: Minnesota Department of Education.
Tools & Technology for Market Research Analysts
Tools
Desktop computers
| Scanners |
Technology
Analytical or scientific software
| Enterprise resource planning ERP software
|
Licensing / Certification
Certification Details
Certifications are examinations that test or enhance your knowledge, experience or skills in an occupation or profession.
There are 17 certifications related to this career.
Licensing Details
No State of Minnesota license requirements are found for this career.
Source: Minnesota Department of Employment and Economic Development and CareerOneStop.
Jobs
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Hiring Practices
Employers prefer applicants who have a bachelor's degree in marketing or a related field. Some positions require graduate degrees. Some small research firms hire telephone surveyors without college degrees.
Many employers look for applicants who have strong skills in computers and math. They prefer people who get along well with others and pay attention to details. Market researchers must communicate well orally and in writing.
Advancement Opportunities
Most market researchers begin as research assistants. As market researchers gain experience, they are assigned their own projects. With additional experience, they can supervise other researchers or become a manager of a branch office. Some market researchers advance by working in advertising or sales. Often, market researchers must move to a new employer to advance to a higher position.
Job Title Examples
Business Development Specialist, Client Service and Consulting Manager, Client Services Vice President, Communications Specialist, Market Research Manager, Product Line Manager, Market Analyst, Market Research Consultant, Project Manager
Similar Careers
Below are careers similar to Market Research Analysts you may be interested in reading about.
If you are looking to broaden your job search,
these careers require similar skills. Click on the names to link to their career profile.
Buyers and Purchasing Agents
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Related Industries
Below are industries related to Market Research Analysts you may be interested in reading about. Employers in these industries typically hire
Market Research Analysts. Click on the names to link to their industry profile.
Advertising
Banking And Finance
Business Management And Support Services
Insurance
Investments
Professional And Consulting Services
Research And Development
Software And Computer Services
Telecommunications
Source: Minnesota Department of Employment and Economic Development and Minnesota Department of Education.
