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Marketing Research Analyst Job Description

Job Title: Marketing Research Analyst

Overview/Summary of the Role:
The Marketing Research Analyst is responsible for conducting research, analyzing market trends and data, and translating findings into actionable insights that provide a competitive advantage. Through gathering data and analyzing the results of marketing campaigns and target audiences, the Marketing Research Analyst supports the development of marketing strategies as well as enabling informed business decisions.

Responsibilities and Duties:
• Conduct primary and secondary market research through surveys, focus groups, online research, and other data sources.
• Analyze and interpret data to identify relevant trends, patterns and insights that can guide marketing and sales strategies and tactics.
• Parse research methodologies to ensure that study outputs are statistically valid.
• Work with Marketing and Sales teams to identify market opportunities and contribute to creating strategies to reach target audiences.
• Develop and evaluate the effectiveness of marketing campaigns and identify opportunities for improvement.
• Prepare written reports, visual storytelling and presentations to communicate research findings to stakeholders on a regular basis.
• Stay current with industry trends, benchmarks and techniques for research and analysis, and make recommendations that align with the latest developments.

Qualifications and Skills:

Hard Skills:
• Experience with quantitative and qualitative research methodologies.
• Excellent data analysis skills using tools such as Excel and SPSS.
• Strong written and verbal communication skills.
• Experience working with data visualization and analysis tools.
• Ability to evaluate statistical data and interpret results.
• Proficient in conducting competitive research analysis.
• Skilled in market trend analysis and reporting.

Soft Skills:
• Highly detail-oriented.
• Strong problem solver; able to use data to identify opportunities and drive decisions.
• Skilled in collaboration and creative problem solving.
• Ability to be self-motivated and work independently.
• Excellent time-management and organizational skills.
• Strong attention to detail while multi-tasking.

Education and Experience:

• Bachelor's degree in Marketing, Business Administration, or a related field.
• One to two years of analytical and research experience relevant to the field.

• Master's degree in Marketing, Business Administration, or a related field.
• Experience working with financial services, healthcare, or consumer data.
• Proficiency in using data visualization tools like Tableau or Power BI.

The Marketing Research Analyst is an integral member of marketing and sales team responsible for driving informed decision-making across an organization. By conducting qualitative and quantitative audits, analyzing data and trends, and working with professionals from various disciplines, the Marketing Research Analyst empowers their organization to make effective, data-driven decisions that meet the needs of their target audience.

Licensing (if applicable):
There are no specific licenses required to work as a Marketing Research Analyst, but certifications such as the Professional Researcher Certification (PRC) from the Insights Association and the Market Research Association's (MRA) Research Expertise Certification can be beneficial.

Typical Employers:
Marketing Research Analysts can be found working in various industries such as market research firms, advertising agencies, consulting firms, and corporations of all sizes.

Work Environment:
Marketing Research Analysts typically work in an office setting, and may work independently or as part of a team. They may also travel to conduct research and meet with clients or stakeholders.

Career Pathways (both leading to this position and next positions):
To become a Marketing Research Analyst, a bachelor's degree is typically required in fields such as marketing, statistics, or business administration. Sales or marketing experience is also desirable. Marketing Research Analysts may advance to managerial or directorial positions or pursue a career in market research consulting.

Job Growth Trend (USA and Global):
According to the Bureau of Labor Statistics, the job outlook for Marketing Research Analysts is expected to grow by 18% from 2019-2029, which is much faster than the average growth rate for all occupations. The growth of online data and the need for businesses to make data-driven decisions are contributing factors to this growth. The global market research industry is also expected to see steady growth, as companies seek to better understand and engage with consumers in a rapidly changing global marketplace.

Career Satisfaction:
Marketing research analysts can find their job quite fulfilling as they are responsible for bringing actionable insights into the company. The job requires a combination of analytical and creative skills, making it an exciting and diverse role. According to Payscale, the average job satisfaction rating for marketing research analysts is 3.8 out of 5.

Related Job Positions:
Some related job positions to Marketing Research Analysts are Market Research Manager, Business Analyst, Data Analyst, Marketing Coordinator, and Digital Analyst.

Connected People:
Marketing research analysts would be interacting with various people within and outside the organization, such as marketing managers, product managers, business development managers, data scientists, market research vendors, and survey participants.

Average Salary:
The average salary of Marketing Research Analysts varies across different countries. According to Glassdoor, the average salary for Marketing Research Analyst in the USA is $60,870 per year. In the UK, the average salary is £29,186 per year. In Germany, the average salary is €48,031 per year. In India, the average salary is INR 416,384 per year, and in Brazil, the average salary is R$42,071 per year.

Benefits Package:
The benefits package for Marketing Research Analysts may vary depending on the company and location. However, some common benefits include health insurance, dental insurance, vision insurance, retirement plans, paid time off, and employee discounts.

Schedule and Hours Required:
The typical schedule for Marketing Research Analysts is full-time, with regular office hours, typically from Monday to Friday. However, the hours required may vary depending on the company's workload and the projects' timeline. The job may also require occasional overtime or weekend work to meet deadlines.

Level of Autonomy:

As a Marketing Research Analyst, you will have a moderate level of autonomy. You will be responsible for managing your own workload and conducting research projects independently or as part of a team. However, you may still be required to report to a manager or supervisor, and your work may be directed by specific project goals and objectives.

Opportunities for Professional Development and Advancement:

Marketing Research Analysts have opportunities for professional development and advancement in the field of marketing research. As you gain experience, you may be promoted to a Senior Marketing Research Analyst or other management positions. You can also pursue advanced degrees, such as a Master’s in Marketing Research, to improve your job prospects and salary potential.

Specialized Skills or Knowledge Required:

Marketing Research Analysts must have strong analytical and critical thinking skills to conduct research and interpret data. They must also possess knowledge of research methods, statistics, and marketing concepts. Additionally, they should be proficient in computer software programs such as Excel, SPSS, and SAS. Excellent communication and presentation skills are also required as you’ll need to communicate your findings to team members and clients.

Physical Demands:

There are no specific physical demands associated with a career as a Marketing Research Analyst. Most of your time will be spent working on a computer, conducting research, and analyzing data.

Tools and Technologies Used:

Marketing Research Analysts use a variety of tools and technologies to conduct research and analyze data. These include statistical software programs like SPSS and SAS, survey software, databases, data visualization tools, and project management software. Additionally, they use online research tools and conduct surveys and focus groups to collect data.

Work Style:

Marketing research analysts have a highly analytical work style, relying on extensive data gathering, processing, and analysis to uncover insightful trends and patterns. They must have strong attention to detail and be able to synthesize complex data sets into meaningful insights that can inform business decisions. They should be comfortable working independently and managing multiple projects simultaneously, often with tight deadlines.

Working Conditions:

Most marketing research analysts work in an office environment, typically in corporate or consulting settings. They spend a lot of time sitting at a desk, working on a computer and may need to travel occasionally to collect data. While the work is not physically demanding, the workload can be mentally intensive, requiring prolonged periods of focused attention and concentration.

Team Size and Structure:

Marketing research analysts typically work as part of a broader team that includes other research professionals, as well as marketing and business development professionals. Teams can range in size from just a few members to large groups. These analysts can also work on their own or remotely, depending on the circumstances.

Collaboration and Communication Requirements:

Marketing research analysts must be able to communicate effectively with a range of stakeholders, including senior executives, marketing and sales teams, and external clients. They will work closely with other research professionals, salespeople, and marketing teams to identify market trends, consumer preferences, and competitive intelligence. Strong collaboration skills and the ability to work well in a team environment are critical to success in this role.

Cultural Fit and Company Values:

Marketing research analysts must have a strong work ethic with a focus on accuracy and detail, and a willingness to work within tight deadlines. They should be able to think critically, prioritize tasks effectively, and take initiative to solve problems. They should also share the company's values and demonstrate a commitment to ethical business practices. A successful analyst must be comfortable with ambiguity and be able to work in a dynamic, ever-changing environment.