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Becoming a market research analyst can open doors of opportunity for qualified individuals in the job market. According to the U.S. Bureau of Labor Statistics, the job outlook for market research analysts is much better than average, with an increase in employment opportunities projected to exceed 30 percent between 2012 and 2022. A bachelor’s degree is generally required to qualify for entry-level positions in this field and can serve as the first step toward a lucrative and in-demand career.
Educational Experiences
While a bachelor’s degree in market research is usually the most desirable credential for job seekers, other acceptable degree fields include statistics, business administration, computer sciences and mathematics. A background in one or more of these areas can provide valuable insights for analysts in the performance of their assigned tasks. For more advanced positions, a master’s degree in market research, business administration or statistics may be required as a basic qualification. After becoming a market research analyst, some professionals go on to obtain a master’s degree in this field, allowing them to qualify for higher-paid and more responsible positions.
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Coursework and Curricula
Statistics, economics and marketing are general requirements for most bachelor’s degree programs. Students will also take courses related to research methodology to provide them with a thorough grounding in the basics of data collection, including interviews, surveys and other techniques used to derive information on consumer preferences. Courses in psychology and other social sciences can also be helpful in interpreting data and ascertaining the viewpoints of potential customers in the retail marketplace.
Voluntary Certification
The Marketing Research Association offers pathways to certification for professional market research analysts who meet basic experience and educational requirements. Certification is voluntary; however, individuals who achieve the Professional Research Certification can often attract more desirable positions in the competitive job market. This can significantly increase the level of responsibility and the salary enjoyed by these professionals throughout their careers.
Job Duties
According to a job profile published by U.S. News & World Report, market research analysts are responsible for identifying key demographics in the consumer or business marketplace and determining the pain points and goals of those prospective customers. They typically work in marketing departments or as part of the product planning teams of large corporations. Government agencies, scientific and technical firms and financial enterprises are also among the potential employers for qualified individuals. Market research analysts are often responsible for developing new methods for delivering advertising to potential customers as well as informing the nature of these marketing messages. Accuracy and attention to detail are especially important in the field of market research. Creating a friendly rapport with survey subjects and consumers in general can also be important in building trust during the research process.
Becoming a market research analyst can lead to a highly paid job in the corporate world. Developing a solid background in mathematics, statistics and both macroeconomics and microeconomics can help students achieve a greater degree of success in this fast-growing and engaging field. By acquiring the right educational background and certifications, aspiring market research analysts can pave the way for a truly rewarding career.
