Career Development

What Does a Market Researcher Do?

Find out what a market researcher does, how to get this job, and what it takes to succeed as a market researcher.

Market researchers are responsible for gathering information about consumers and their buying habits. They work with a variety of clients, including retail stores, manufacturers, service providers, etc., to help them make better-informed decisions about their products or services.

Market researchers may focus on one area in particular—such as consumer behavior or public opinion—or they may be generalists who cover a wide range of topics. Regardless of their specialty, market researchers use a variety of methods to gather information about their clients’ target markets. This might include conducting interviews, observing people in their natural environments, analyzing existing data sets, etc.

Market Researcher Job Duties

Market researchers have a wide range of responsibilities, which can include:

  • Conducting surveys to collect data on customer satisfaction, demographics, or opinions regarding specific issues
  • Reviewing data to determine patterns or trends in consumer behavior
  • Determining how effectively a company is meeting customer needs based on market research data
  • Creating reports based on findings from research studies to help companies make strategic decisions
  • Interviewing prospective customers to gather information about their lifestyles and buying habits
  • Planning and conducting focus groups to gather qualitative data on consumers’ opinions on products or services
  • Identifying new markets for existing products or services
  • Interviewing experts such as industry leaders or professors in relevant fields to gather research for projects
  • Conducting market research on behalf of companies to gather information about trends in consumer behavior

Market Researcher Salary & Outlook

Market researcher salaries vary depending on their level of education, years of experience, and the company they work for. Market researchers may also earn additional compensation in the form of bonuses.

  • Median Annual Salary: $62,500 ($30.05/hour)
  • Top 10% Annual Salary: $137,000 ($65.87/hour)

The employment of market researchers is expected to grow much faster than average over the next decade.

Demand for research will continue to increase as firms seek to understand their customers and markets better. Market researchers will be needed to help companies understand how consumers are changing and what types of products and services they want.

Market Researcher Job Requirements

A market researcher typically needs to have the following qualifications:

Education: Most employers require market researchers to have a bachelor’s degree in marketing, statistics, economics or another closely related field. Some employers prefer candidates who have a master’s degree in business administration (MBA). An MBA is useful for market researchers who want to advance their careers or specialize in a particular industry.

Training & Experience: Market researchers typically receive on-the-job training to learn the specific processes and procedures of the company. Training may include learning the company’s computer programs, databases and other software. It may also include instruction on how to use the company’s research methods and how to analyze and interpret data.

Market researchers can also receive training in the form of seminars and conferences. These events can help market researchers learn about new trends in their industry and keep their skills current.

Certifications & Licenses: Certifications are not commonly required to become a market researcher, but they can make you a more competitive candidate when applying for jobs.

Market Researcher Skills

Market researchers need the following skills in order to be successful:

Research: Market researchers use research skills to gather information about a company’s products, services and target audience. They use research skills to find contact information for potential clients and gather data about their preferences. This information helps them create a survey that will provide the company with the information they need.

Communication: Communication is the act of conveying information to others. As a market researcher, you may be required to communicate with clients, colleagues and other stakeholders. This requires you to be able to speak and write clearly and concisely. You may also be required to communicate verbally, which requires you to be able to speak clearly and persuasively.

Analysis: Analytical skills are necessary for market researchers to determine the validity of the data they find. They need to be able to analyze the data they find and determine if it’s useful for the client. This can include analyzing the data for trends and patterns.

Data management: Data management is the ability to organize and store large amounts of information. Market researchers often have access to large amounts of data, and they need to be able to sort through it and find the information they need. Data management also includes the ability to store data in a secure location.

Business acumen: Business acumen is the ability to understand a company’s goals and how to help them achieve them. This is an important skill for market researchers because it allows them to create research that will be useful to their clients. For example, if a client is looking for information about a new product they’re developing, a market researcher with business acumen can create a survey that will help them understand how consumers feel about the product.

Market Researcher Work Environment

Market researchers work in a variety of settings, including corporate marketing departments, advertising agencies, market research firms, and government agencies. They may work in an office setting, or they may travel to meet with clients or to conduct field research. Market researchers typically work a standard 40-hour week, although they may work longer hours to meet deadlines or to conduct field research. Some market researchers work from home, and some may be required to travel extensively to meet with clients or to conduct research.

Market Researcher Trends

Here are three trends influencing how market researchers work. Market researchers will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Need for Speed

The need for speed is a trend that is affecting all industries, including market research. As businesses become more competitive, they are looking for ways to get information faster and more efficiently. This has led to an increased demand for market researchers who can provide quick and accurate insights into consumer behavior.

Market researchers can adapt to this trend by becoming more efficient in their work. This may include using technology to automate tasks or developing relationships with data providers who can provide information quickly. In addition, market researchers should focus on developing strong communication skills so that they can effectively communicate their findings to stakeholders.

Data Privacy Concerns

As data privacy concerns continue to grow, market researchers will need to find new ways to collect data without infringing on customer privacy.

One way to do this is by using anonymized data sets. By removing personal information from data sets, market researchers can avoid collecting sensitive information and still use the data to make informed decisions. In addition, market researchers can also be more transparent about how they collect data and what they do with it.

More Focus on Qualitative Research

Qualitative research is becoming increasingly important in the marketing world as companies strive to understand the needs and wants of their customers.

As qualitative research becomes more popular, market researchers will need to develop skills in qualitative research methods. This includes understanding how to conduct interviews, focus groups, and other types of qualitative research.

How to Become a Market Researcher

A market researcher career path can be a great way to get started in the business world. It’s a field that offers a lot of variety, so you can find a niche that suits your interests and skills. You could work on consumer products, healthcare, or any number of other industries.

The best way to start a market research career is by getting experience in different areas of the industry. This could mean working as an assistant, interning, or volunteering at different companies. You should also take advantage of opportunities to learn new skills, such as coding or data analysis.

Related: How to Write a Market Researcher Resume

Advancement Prospects

Market researchers typically advance by taking on more responsibility and moving into management positions. Some market researchers move into related occupations, such as marketing manager, sales manager, or advertising manager.

With experience, market researchers may advance to positions with more responsibility, such as research director or marketing research manager. In these positions, they may oversee a staff of market research analysts and other researchers.

Those with advanced degrees and extensive experience may become independent consultants. Some market researchers start their own marketing research firms.

Market Researcher Job Description Example

As a market researcher at [CompanyX], you will play a vital role in informing our marketing and sales strategies. You will be responsible for conducting primary and secondary research, analyzing data, and developing insights to help guide our decisions. This is a highly analytical position that requires excellent problem-solving skills. The ideal candidate will have experience with market research methods and tools, as well as data analysis and interpretation. He or she will be able to work independently and be comfortable with ambiguity.

Duties & Responsibilities

  • Understand and articulate the research objectives, target audience, and key insights needed to inform creative development
  • Design and execute quantitative and qualitative research studies using a variety of methodologies (e.g., online surveys, in-person interviews, focus groups)
  • Analyze data to identify key findings and develop actionable recommendations
  • Present research findings to internal clients in a clear and concise manner
  • Write research reports that tell a story and provide practical implications for marketing and advertising campaigns
  • Stay up-to-date on industry trends and best practices in market research
  • Develop strong relationships with clients, providing them with exceptional service
  • Manage multiple projects simultaneously while meeting deadlines
  • Train and mentor junior staff members
  • Negotiate research contracts with third-party vendors
  • Manage research budgets
  • Conduct secondary research to supplement primary research findings

Required Skills and Qualifications

  • Bachelor’s degree in marketing, business, economics, or related field
  • 3-5 years of professional market research experience
  • Experience with both qualitative and quantitative research methods
  • Strong analytical skills and attention to detail
  • Excellent written and verbal communication skills
  • Ability to work independently and as part of a team

Preferred Skills and Qualifications

  • Master’s degree in marketing, business, economics, or related field
  • Experience with statistical analysis software (SPSS, SAS, R)
  • Experience conducting primary research (surveys, interviews, focus groups)
  • Familiarity with secondary research sources (trade publications, government data)
  • Project management experience

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