How to Become a Market Researcher
How to Become a Market Researcher
A business is only as successful as its marketing. Whether it’s formal advertising or word-of-mouth, without understanding their target audience, companies will struggle to reach costumers. This is why it is vital to have access to professionals skilled in the science of market research.
What does a market researcher do?
Market researchers (also known as market research analyst, or marketing analyst) work to understand the consumer base of their employer or client. It’s up to the market researcher to find out what appeals to consumers and how to best reach them in order to boost their company’s or client’s sales.
Market research analysts evaluate data, which might include everything from surveys to sales reports. They may even be in charge of designing studies to collect such data. Then they determine what consumers are buying and why they are buying it.
A marketing analyst will then make recommendations on future marketing plans. For example, if the data collected indicates their target consumer is looking for a family-friendly product, they could suggest that future marketing plans incorporate a family friendly approach in order to best appeal to those consumers and boost overall sales.
What kind of training does a market researcher need?
For most marketing analyst jobs, it is important to have a bachelor degree in marketing or business. While some entry-level market research positions may be gained with an associate degree, a bachelor degree is considered the industry standard when learning market research. Click here for programs to get your market research degree.
Many employers are also interested in candidates with business experience, either by previous employment or internships in relevant fields. This on-the-job experience is often an important stepping-stone and helps applicants get ahead in the highly-competitive market research field. Many employers are looking for applicants with a good understanding of the business world and an refined ability to analyze data.
For more advanced positions, some employers may require previous work experience, as well as more extensive market research training. This level of marketing expertise is great for those who seek managerial positions. Click here for a list of programs to find out how to become a market researcher.
What are the prospects for a market research career?
Overall, jobs in market research are expected to increase in the coming years. Marketing jobs in general will increase by at least 12% between 2006 and 2016, increasing the number of jobs to 651,000. (1) Market research analysts are an essential component of businesses, making them valuable employees.
How much do market researchers make?
A career in market research can be a very lucrative choice. Entry-level positions in market research may start at $37,000 and can reach up to $61,000 annually. Mid-level jobs can jump up to as much as $71,000, with even greater earnings for employees with higher levels of schooling and more work experience. (2)
A market researcher career is a distinctive occupation that blends research and analysis with creative thinking in order to best understand the needs and wants of consumers. This makes market research a good option for those seeking understand the fickle nature of consumer habits. Click here for degree programs to begin your market research career.