Market Research Analyst

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Market Research Executive
Market Research Interviewer
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Clerical or OrganisingAnalytic or ScientificSkill Level 5

Market research analysts collect, process and analyse data to assist in the marketing of products and services. Market Research Analyst determines the market for new products, develops advertising strategies and evaluates the best business sites for various types of commercial enterprises. Market research analysts examine data to identify trends and establish potential markets or sales techniques for products or services. They help companies understand what products people want, who will buy them, and at what price.

They conduct research on a topic, product or service using design surveys, questionnaires and other methods for obtaining data, and organising the dissemination and collection of these documents. They also supervise the staff who collect these documents. They may also conduct one-on-one interviews or focus groups, and undertake administrative tasks. Future Growth Very Strong


ANZSCO ID & description: 225112: Determines the market for new goods and services, develops advertising strategies, and evaluates the best business sites for commercial organisations.


Alternative Names: Analyst, Market Researcher, Insights analyst, Marketing data analyst, Product research analyst, Qualitative research assistant

Specialisations: Market Research Interviewer - assists market researchers in collecting information by speaking with people face-to-face or over the phone, and recording (on questionnaires or in reports) the answers or details given by interviewees about the market research subject.


Knowledge, skills and attributes

A market research analyst needs:

  • excellent maths and computer skills
  • an interest in consumer behaviour
  • good listening skills
  • strong written communication skills
  • strong analytical, conceptual and reasoning skills
  • organisational, planning and time management skills
  • the ability to design data collection mechanisms
  • the ability to analyse and interpret statistics and other data
  • creative ability to make data interesting for people who aren’t experts
  • accuracy and strong attention to detail
  • data entry skills.

Plotting influences
(Source: Workable)

 

Duties and Tasks

Market researchers may perform the following tasks:

  • devise and use surveys, questionnaires, and opinion polls to gather data and select sample groups to survey
  • check the quality of data gathered
  • collect facts from sources (such as company records) showing the total volume of sales, or from government statistics and information (such as population census data)
  • use relevant statistical software to analyse the data
  • arrange and analyse collected information
  • convert complex data and findings into easy-to-read tables, graphs, and written reports
  • interpret and predict current and future consumer trends, such as changes in tastes and lifestyles
  • write reports about the results of research activities
  • discuss information needs with clients
  • present results to clients and management
  • monitor and forecast marketing and sales trends
  • identify specific consumer markets for clients
  • measure the effectiveness of marketing programs and strategies

Working conditions

In a full-time role as a market research analyst, you would work a standard number of hours per week, with necessary overtime to meet project deadlines. You may sometimes need to work in the evenings if, for example, you were conducting a series of focus groups.

The majority of market researcher analysts are employed by marketing or market research agencies that carry out projects for different companies and industries.You would usually be based in an office with occasional travel to client meetings.

Market research analysts usually work in an office environment. They are often required to travel locally, interstate or overseas in order to meet with clients to conduct research, or to attend training or conferences. They usually work where there are large populations, such as cities so that they can gather as much data as possible, but may also be required to conduct research in regional areas from time to time.

They may also conduct online market research, which may collect data from a wider cross-section of people. Market research analysts need to be familiar with both qualitative and quantitative research methods.

Tools and technologies

Marketing research analysts use computers, and in particular specialist data analysis programs. They also use presentation software to create and deliver market research presentations to focus groups.

They may also use whiteboards [Interactive Whiteboards] or other audio visual presentation media. They may also use audio or video equipment to record their one-on-one interviews or focus group sessions for further analysis.

Education and training/entrance requirements

To become a market research analyst you usually need to obtain a degree in commerce or business, with a major in marketing. It is also possible for graduates of statistics, psychology, sociology, economics, behavioural sciences or computer science degrees to enter this occupation. To get into these courses you usually need to gain your HSC/ACT Year 12. Prerequisite subjects, or assumed knowledge, in one or more of English and mathematics are normally required. Most universities in Australia offer degrees in these areas.

Graduates of marketing courses may be eligible for membership of the Australian Marketing Institute or Australian Market and Social Research Society.

Employment Opportunities

Employment of market research analysts is projected to grow much faster than the average for all occupations.

Employment growth will be driven by an increased use of data and market research across all industries, to understand the needs and wants of customers, and to measure the effectiveness of marketing and business strategies.
Market researchers may work for organisations that make and market products such as cars, magazines, food, clothing, appliances and other consumer products. They may also work for radio and television networks. In recent years, government bodies have made increasing use of market research services. There are also market research firms that offer their services on a consulting basis.

New graduates sometimes take up market research interviewing jobs in order to break into this field. It is common for market researchers to have to work in the evenings or on weekends.

 

Market Research Analyst

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Personal Assistant

Corporate Trainer

Lawyer

Archivist

Marketing Officer

Management Consultant

Officer Administrator

Interpreter

Private Investigator

Security Consultant

Receptionist

Sports Administrator

Call Centre Operator

Marketing Research Analyst

Hospital Administrator

Medical Administrator

Nurse Manager

Sports Centre Manager

Steward of Racing

Bookmaker

Child Care Centre Manager

Judge

Personal Assistant

Corporate Trainer

Lawyer

Archivist

Marketing Officer

Management Consultant

Officer Administrator

Interpreter

Private Investigator

Security Consultant

Receptionist

Sports Administrator

Call Centre Operator

Marketing Research Analyst

Hospital Administrator

Medical Administrator

Nurse Manager

Sports Centre Manager

Steward of Racing

Bookmaker

Child Care Centre Manager

Judge

Personal Assistant

Corporate Trainer

Lawyer

Archivist

Marketing Officer

Management Consultant

Officer Administrator

Interpreter

Private Investigator

Security Consultant

Receptionist

Sports Administrator

Call Centre Operator

Marketing Research Analyst