What You Need to Know About Market Research Analyst or Marketing Specialist
Example of Market Analyst Job 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?
- Seek and provide information to help companies determine their position in the marketplace.
- Measure the effectiveness of marketing, advertising, and communications programs and strategies.
- Devise and evaluate methods and procedures for collecting data, such as surveys, opinion polls, or questionnaires, or arrange to obtain existing data.
- Prepare reports of findings, illustrating data graphically and translating complex findings into written text.
- Attend staff conferences to provide management with information and proposals concerning the promotion, distribution, design, and pricing of company products or services.
- Gather data on competitors and analyze their prices, sales, and method of marketing and distribution.
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What Every Market Analyst Should Know
Below is a list of the skills most Market Research Analysts and Marketing Specialists say are important on the job.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
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.
Speaking: Talking to others to convey information effectively.
Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Related Job Titles for this Occupation:
- Advertising Analyst
- Social Media Manager
- Marketing Research Coordinator
- Marketing Representative
- Market Research Consultant
Are There Job Opportunities for Market Research Analysts and Marketing Specialists?
There were about 595,400 jobs for Market Research Analyst or Marketing Specialist in 2016 (in the United States). New jobs are being produced at a rate of 23.2% which is above the national average. The Bureau of Labor Statistics predicts 138,300 new jobs for Market Research Analyst or Marketing Specialist by 2026. There will be an estimated 77,100 positions for Market Analyst per year.
The states with the most job growth for Market Analyst are Utah, Nevada, and Washington. Watch out if you plan on working in Alaska, Maryland, or Maine. These states have the worst job growth for this type of profession.
Average Market Research Analysts and Marketing Specialists Salary
The average yearly salary of a Market Analyst ranges between $34,310 and $121,080.
Market Research Analysts and Marketing Specialists who work in Delaware, New Jersey, or New York, make the highest salaries.
How much do Market Research Analysts and Marketing Specialists make in each U.S. state?
| State | Annual Mean Salary |
|---|---|
| Alabama | $59,980 |
| Alaska | $69,880 |
| Arizona | $62,930 |
| Arkansas | $68,050 |
| California | $78,090 |
| Colorado | $73,460 |
| Connecticut | $77,010 |
| Delaware | $82,890 |
| District of Columbia | $79,770 |
| Florida | $64,730 |
| Georgia | $67,080 |
| Hawaii | $60,030 |
| Idaho | $53,500 |
| Illinois | $61,670 |
| Indiana | $56,560 |
| Iowa | $59,270 |
| Kansas | $64,910 |
| Kentucky | $58,190 |
| Louisiana | $49,460 |
| Maine | $68,670 |
| Maryland | $67,900 |
| Massachusetts | $74,510 |
| Michigan | $67,500 |
| Minnesota | $74,300 |
| Mississippi | $45,530 |
| Missouri | $65,360 |
| Montana | $58,650 |
| Nebraska | $54,390 |
| Nevada | $59,090 |
| New Hampshire | $68,010 |
| New Jersey | $87,210 |
| New Mexico | $57,010 |
| New York | $77,230 |
| North Carolina | $69,170 |
| North Dakota | $52,870 |
| Ohio | $65,920 |
| Oklahoma | $59,600 |
| Oregon | $72,170 |
| Pennsylvania | $68,630 |
| Rhode Island | $72,180 |
| South Carolina | $60,290 |
| South Dakota | $55,430 |
| Tennessee | $60,990 |
| Texas | $78,200 |
| Utah | $57,660 |
| Vermont | $63,290 |
| Virginia | $75,050 |
| Washington | $81,890 |
| West Virginia | $45,760 |
| Wisconsin | $57,710 |
| Wyoming | $54,560 |
Tools & Technologies Used by Market Research Analysts and Marketing Specialists
Although they’re not necessarily needed for all jobs, the following technologies are used by many Market Research Analysts and Marketing Specialists:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Hypertext markup language HTML
- JavaScript
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- MySQL
- Data entry software
- Word processing software
- SAP
- Microsoft Project
- Adobe Systems Adobe Acrobat
- Microsoft SharePoint
- Microsoft Visio
- Adobe Systems Adobe Photoshop
- Structured query language SQL
- The MathWorks MATLAB
How to Become a Market Analyst
What kind of Market Research Analyst or Marketing Specialist requirements are there?
What work experience do I need to become a Market Analyst?
Who Employs Market Research Analysts and Marketing Specialists?
Below are examples of industries where Market Research Analysts and Marketing Specialists work:
Related Careers
Those thinking about becoming a Market Research Analyst or Marketing Specialist might also be interested in the following careers:
Are you already one of the many Market Research Analyst or Marketing Specialist 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
- Talent Directors
- Advertising and Promotions Managers
- Sales Agents, Securities and Commodities
References:
Image Credit: Nick Youngson via Creative Commons 3 - CC BY-SA 3.0
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