Market researchers collect information and help companies understand what kinds of goods customers want and the price they are willing to pay for it. They also provide assistance to companies marketing their products. They collect statistical information about the products of competitor companies with regards to their sales, price, marketing strategy and distribution. They also make an estimate of future sales by analyzing past data.
Market Researchers Schools and Degrees
A bachelor’s degree is essential to become a market researcher. A master’s degree also helps. Many aspirants often earn degrees in closely related fields such as communications, business administration and statistics.
Job Requirements
A person aspiring to become a market researcher often begins by assisting a professional. With time and experience, he/she is given an independent research project to handle. Advanced degrees and continuing education along with work experience also help. The Market Research Association also provides certification in this field.
Previous experience conducting interviews and collecting and analyzing data can help a young graduate find a job in the field of market research. A part-time job at a consulting firm or government agency may also help.
Market researchers often spend a lot of time analyzing data, so a keen eye for detail is important. A lot of their time is spent studying data and solving problems. They need to be patient and persuasive. Market researchers need to be aware of the latest market trends.
Nature of Work
Market researchers make recommendations to their clients or employer based on their compilation and evaluation of data. They also provide information required to arrive at decisions regarding design and distribution of products or services. Their research also helps companies determine the launch of new product lines, sales and advertising plans. They work for a number of clients like government agencies and corporations. Their surveys play an important role in the research process.
Market researchers may often work alone making statistical charts and writing reports. They have to be in touch with the public and may be required to travel for research purpose. They may also work as part of a research team.
Market Researchers Jobs and Outlook
According to research from 2006, jobs in this field are expected to grow by twenty percent in the next ten years.
The average annual salary of professionals in this field is about $58,00 a year.
Job Numbers and Growth
Market researchers in the US number about 234,000. Workers generally expect a low unemployment rate. There were about 3% of employees without jobs in 2008.
Area Job Conditions
Where are jobs most numerous? Framingham (Massachusetts), San Jose (California), and Wilmington (Delaware). Least common? Mobile (Alabama), Eugene (Oregon), and Shreveport (Louisiana).
Salaries vary across the country, from highest in San Jose (California), Spartanburg (South Carolina), and Seattle (Washington) to lowest in College Station (Texas), Fort Walton Beach (Florida), and Myrtle Beach (South Carolina).
Training and Education
Obtaining a bachelor's degree will help job seekers. Market researchers with four or more years of college are 82% of the total. An estimated 14% of workers attended college at some level but did not pursue a 4-year degree. High school was enough education for 4% of employees. Recommended schools are shown in the column to the right; request information from them to help you decide which if any could help you with this career.
Part-Time Work and Self-Employment
Whether by choice or necessity, 13% of market researchers work part-time. About 7% of workers do not work for a company or organization.
Request Info From These Schools
Schools recommended for people interested in this career. Request info with quick online forms. These particular schools are noted for getting back to people fast.
Schools recommended for people interested in this career. Request info with quick online forms. These particular schools are noted for getting back to people fast.