Market research analysts collect and analyze data from consumer surveys, focus groups, and sales results to determine how to market products to consumers. A bachelor’s degree in business with a minor in marketing is helpful, and an MBA in marketing is recommended. Certification, such as PRC, can be helpful. Market research analysts can work in various industries and may work for companies or advertising agencies.
The market research analyst lets companies know what products consumers want, which consumers will buy the company’s products, and what future sales will look like. The work done by a market research analyst involves collecting data and analyzing data from consumer survey results, focus groups or sales results with the aim of figuring out how to market products to consumers. The market research analyst can work alone or with a research group. There are often deadlines that must be met and that means the job can be stressful. If you want to become a market research analyst, you will generally need a university and postgraduate degree.
Obtaining a bachelor’s degree in business with a minor in marketing can be an asset if you are interested in becoming a market research analyst. Granted, it is sometimes possible for you to become a market research analyst as a result of pursuing other areas like finance or economics. Obviously, this is not normally done. Typically, the focus of the bachelor’s degree will be on business and marketing if you want to become a market research analyst.
During your college years, it can be helpful to do an internship in a marketing environment. Internships are useful because they complement classroom learning with real-world experience; however, they also help you understand whether you have what it takes to be a successful market research analyst. In addition, the internship allows you to network with others who can serve as mentors or provide you with helpful advice about your career.
You will likely apply for a market research analyst job during your last semester of college. Asking your college’s career services department for help finding a job can be helpful. Also, doing a job search online or asking your internship supervisor for help finding a job can also help with your job search.
After two years of work, you can apply to college. For example, a Master of Business Administration (MBA) in marketing is often recommended for anyone hoping to become a market research analyst. Not only does the MBA allow you to learn information that will be relevant to your job as a market research analyst, but the MBA allows you to qualify for jobs with higher levels of pay and responsibility as a market research analyst.
While certification is not required, it can be helpful for your career. For example, you can earn Professional Researcher Certification (PRC) through the Marketing Research Association (MRA). Obtaining the People’s Republic of China requires that you have relevant education in market research, work experience and prior membership in a professional market research organization.
Marketing analysts usually work for companies or advertising agencies. It is true that market analysts are not limited to working in these environments. For example, market research analysts might work at insurance companies or healthcare institutions. Or, if you become a market research analyst and you have an interest in teaching, you could go back to school to get a Ph.D. in business philosophy for a college teaching career.
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