When you are a market research analyst, you hold a tremendous power to impact the direction of any company. Your research focuses primarily on minimizing risk and discovering new audience niches for a product or service. You will study different groups in the population to understand what their needs and desires are. Companies will hire you in order to learn from the research that you conduct. They may develop products that are aimed at particular groups in the population based upon your research. High-powered CEOs and executives may use the research that you have conducted in order to learn how to operate a business in a more efficient manner. Maybe you have wondered, “How do I become a market research analyst?” If you want to become a market research analyst, then you should try to get an edge by pursuing a bachelor’s degree in business administration or marketing.
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What’s it like to be a market research analyst?
When you become a market research analyst, you can expect to use your quantitative and analytical abilities on a daily basis. You may be given strict deadlines that must be met on a regular basis. You will need to perform research that can help a company to ultimately achieve its goals. It will be essential for you to figure out a company’s weaknesses and attempt to build upon them. If you decide to become a market research analyst, you should be prepared to work long hours. Market research analysts may have to put in extra hours during the holiday season. A market research analyst may need to help figure out new groups in a population that will use a company’s product. As a market research analyst, you may need to write up proposals that will later be submitted to high-powered business professionals. You may also need to give presentations on a certain day of the findings that you have put together.
To become a market research analyst, you should possess a bachelor’s degree in business administration or marketing. You should also try to take courses that will improve upon your written and oral communication skills. These types of classes will be helpful for the tasks that are required in the position of a market research analyst. Classes in mathematics or statistics can also be helpful when you decide to become a market research analyst. You should also take courses that focus upon research methods. You may work for a company that requires you to create your own research studies. In that case, you should be prepared to create research studies that are highly scientific and professional. You may want to also pursue a doctoral degree if you want to teach college courses later in life. When you have a doctoral degree, you will be able to teach marketing research courses at the university level.
Salary & How to Get a Job
According to the BLS, the average salary of a market research analyst is about $60,000 a year. If you want to obtain a position as a market research analyst, then you should try to apply for open positions available at marketing firms. Companies will frequently hire firms that specialize in market research. If you work in an entry-level position in the marketing department for a company, then you may ultimately be promoted to this type of position. You should also try to network with other professionals who currently work within the market research field. Networking will give you a better opportunity in landing the position that you have always wanted in the market research department for a company.