What Do Market Research Analysts and Marketing Specialists Do?
Market Analyst Example Research market conditions in local, regional, or national areas, or gather information to determine potential sales of a product or service, or create a marketing campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution.
What do Market Research Analysts and Marketing Specialists do On a Daily Basis?
- Devise and evaluate methods and procedures for collecting data, such as surveys, opinion polls, or questionnaires, or arrange to obtain existing data.
- Conduct research on consumer opinions and marketing strategies, collaborating with marketing professionals, statisticians, pollsters, and other professionals.
- Measure and assess customer and employee satisfaction.
- Monitor industry statistics and follow trends in trade literature.
- Seek and provide information to help companies determine their position in the marketplace.
- Forecast and track marketing and sales trends, analyzing collected data.
What a Market Analyst Should Know
When polled, Market Research Analysts and Marketing Specialists say the following skills are most frequently used in their jobs:
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Related Job Titles for this Occupation:
- Development Coordinator
- Market Research Consultant
- Communications Specialist
- Business Development Analyst
- Market Researcher
Is There Going to be Demand for Market Research Analysts and Marketing Specialists?
In 2016, there was an estimated number of 595,400 jobs in the United States for Market Research Analysts and Marketing Specialists.
New jobs are being produced at a rate of 23.2% which is lower than average. The Bureau of Labor Statistics predicts 138,300 new jobs for Market Research Analysts and Marketing Specialists by 2026. There will be an estimated 77,100 positions for Market Analyst per year.
The states with the most job growth for Market Research Analysts and Marketing Specialists are California, New York, and Florida.
Watch out if you plan on working in Alaska, Wyoming, or Maine. These states have the worst job growth for this type of profession.
What is the Average Salary of a Market Analyst
The average yearly salary of a Market Analyst ranges between $34,310 and $121,080. The median salary for this occupation is $63,120.
How much do Market Research Analysts and Marketing Specialists make in each U.S. state?
| State | Annual Mean Salary |
|---|---|
|
New Jersey |
$87,210 |
|
Delaware |
$82,890 |
|
Washington |
$81,890 |
|
District of Columbia |
$79,770 |
|
Texas |
$78,200 |
|
California |
$78,090 |
|
New York |
$77,230 |
|
Connecticut |
$77,010 |
|
Virginia |
$75,050 |
|
Massachusetts |
$74,510 |
|
Minnesota |
$74,300 |
|
Colorado |
$73,460 |
|
Rhode Island |
$72,180 |
|
Oregon |
$72,170 |
|
Alaska |
$69,880 |
|
North Carolina |
$69,170 |
|
Maine |
$68,670 |
|
Pennsylvania |
$68,630 |
|
Arkansas |
$68,050 |
|
New Hampshire |
$68,010 |
|
Maryland |
$67,900 |
|
Michigan |
$67,500 |
|
Georgia |
$67,080 |
|
Ohio |
$65,920 |
|
Missouri |
$65,360 |
|
Kansas |
$64,910 |
|
Florida |
$64,730 |
|
Vermont |
$63,290 |
|
Arizona |
$62,930 |
|
Illinois |
$61,670 |
|
Tennessee |
$60,990 |
|
South Carolina |
$60,290 |
|
Hawaii |
$60,030 |
|
Alabama |
$59,980 |
|
Oklahoma |
$59,600 |
|
Iowa |
$59,270 |
|
Nevada |
$59,090 |
|
Montana |
$58,650 |
|
Kentucky |
$58,190 |
|
Wisconsin |
$57,710 |
|
Utah |
$57,660 |
|
New Mexico |
$57,010 |
|
Indiana |
$56,560 |
|
South Dakota |
$55,430 |
|
Wyoming |
$54,560 |
|
Nebraska |
$54,390 |
|
Idaho |
$53,500 |
|
North Dakota |
$52,870 |
|
Louisiana |
$49,460 |
|
West Virginia |
$45,760 |
|
Mississippi |
$45,530 |
What Tools & Technology do Market Research Analysts and Marketing Specialists Use?
Although they’re not necessarily needed for all jobs, the following technologies are used by many Market Research Analysts and Marketing Specialists:
- Minitab
- Apache Pig
- Oracle Business Intelligence Enterprise Edition
- Oracle Hyperion
- IBM SPSS Statistics
- Salesforce software
- Microsoft Outlook
- Drupal
- R
Where do Market Research Analysts and Marketing Specialists Work?
Similar Careers
Those interested in being a Market Research Analyst or Marketing Specialist may also be interested in:
- Management Analysts
Are you already one of the many Market Research Analysts and Marketing Specialists in the United States? If you’re thinking about changing careers, these fields are worth exploring:
- Sales Representatives, Wholesale and Manufacturing, Technical and Scientific Products
- Sales Agents, Securities and Commodities
- Advertising and Promotions Managers
References
Image Credit: Via Wikimedia Commons
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