Last Updated: November 4, 2020
Marketing and advertising aren’t simply about designing cool and creative campaigns that turn heads. No, those creative efforts need to be driven by informed decisions heavily based on research.
Marketing research analysts have the skills and tools needed to look at market demographics and trends in order to help other marketing professionals choose effective methods of advertising. Read on to discover how these data experts give marketing managers the information they need to effectively market to clients and consumers.
What do they do?
Location and Opportunity
According to Indeed.com, several locations are most in demand of marketing research analysts, including:
Marketing research analysts are mainly information gatherers. Using an assortment of tools, like questionnaires, focus groups, public opinion polls, interviews, and sales figures, they give teams of advertisers research to back their practices on.
Marketing research analysts measure the effectiveness of marketing campaigns, and analyze the successful and unsuccessful aspects of all campaigns. By studying market conditions, they help inform decisions about when, where, and how to introduce a new product or service into the marketplace.
Companies typically hire market research analysts in teams, allowing them to collaborate on various projects. Other professionals they might work with include:
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Due to the high volume of numbers and data figures market research analysts must crunch through on a daily basis, strong math skills are a must for any individual looking at the career. Additionally, they must have an understanding of how to reflect those figures in a way that makes sense to less math-savvy marketing professionals.
All companies require market research analysts to obtain at least bachelor’s degrees, and many prefer candidates with master’s backgrounds. Most market research analysts receive degrees in either marketing or statistics.
Become a Marketing Research Analyst
The average salary for a market research analyst in August 2012 was $82,500, though that pay scales according to experience and size of the company. Higher level market research analysts who move on to management positions have the potential to make over $120,000.
If you’re interested in learning more about how marketing research analysts find the meaning behind complex market figures, contact schools offering degrees in marketing.