The market research process gathers information about the consumers and the companies and then studies them to understand the market conditions. They apply their research findings to understand and find their target audiences. They monitor the trends in sales and marketing and gather data about competitors. By analyzing the data and researching their competitors, they help the company to understand what people want and at what price.
Education Qualifications for Market Research Analysts
A Bachelor’s degree is a must to become a market research analyst whereas a few positions require a Master’s degree or specific specialization in fields such as math, computer science, communication, economics, consumer behavior or statistics. The best would be to get a degree in marketing management, preferably MBA, to become a market research analyst.
Certification is voluntary. Therefore, you should sit for the Marketing Research Association (MRA) Exam. The MRA exam offers three different types of professional certification, such as research providers, corporate researchers, and research adjuncts.
Analysts with three years of experience are eligible for the practitioner’s certificate whereas analysts with five years of experience can apply and are eligible for the expert’s certification.
Many colleges and universities offer degree programs in fields such as survey research, survey statistics, survey methodology, survey design, and data analysis.
In general, market research educational courses are designed in such a way that it covers the following topics:
Following are some of the skills necessary for a market research analyst:
1. Data Analysis: You should be able to design, analyze and develop sampling plans. You should be able to translate your insights into the actions.
2. Technical Skills: You should know the following software:
3. Analytical Skills: You must be able to collect and analyze large amounts of data and information.
4.Communication Skills: Both oral and written communication skills are required for a market research analyst.
5. Detail-oriented: As an analyst, you must be detail-oriented and well organized.
6. Critical-Thinking Skills: You must be able to analyze the data critically and make logical decisions.
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