How to Become a Market Research Analyst?
Learn how to start your career as a Market Research Analyst, including education, skills, and top colleges
In this Career Outline
Introduction to Market Research Analyst
"Success in business lies in the hands of a Market Research Analyst who understands the market pulse." — Jane Doe
Marketing research analysts collect and analyze data from various sources to provide insights and recommendations to clients. They work with public, private, and non-profit organizations and can also be consultants or freelancers. Analysts typically specialize in quantitative research, which involves analyzing large data sets from surveys to identify trends, or qualitative research, which uses interviews or focus groups to uncover deeper insights and motivations.
Steps to Become a Market Research Analyst:
Step-1
Start with a bachelor’s degree in marketing, business, statistics, or a related field.
Step-2
Look for internships or entry-level positions in market research or data analysis to build hands-on experience.
Step-3
Consider a master's degree in market research, business analytics, or a related field to advance your career.
Step-4
Gain proficiency in statistical software and data analysis tools.
Step-5
Learn to present data findings clearly and effectively to stakeholders.
Step-6
Follow industry news and trends to keep your knowledge current.
Step-7
Join industry associations and attend conferences to build connections and enhance your career prospects.
Eligibility Criteria
| Eligibility Criteria | Description |
|---|---|
| Eligibility | Must possess at least 50% aggregate marks in 12th grade from a recognized board (PUC/CBSE/ICSE/ISC, etc.). |
| Educational Background | High school diploma or equivalent. |
| Undergraduate Degree | Typically a degree in Business Administration, Marketing, Economics, or Statistics. Some roles may accept degrees in related fields. |
| Postgraduate Degree | An MBA or Master’s in Market Research, Statistics, or a related field can be advantageous. |
| Entrance Exams | No standardized entrance exams; availability varies by university. |
- Any degree is viable, but opting for B.Com/BBA will provide a better overview and understanding of the market than you do from other courses.
- Must possess at least 50% aggregate from a recognized institution in 12th, from any board PUC/CBSE/ICSE/ISC, etc.
- There are no standardized entrance exams after 12th for enrolling in Marketing Analysis. The availability of these exams is exclusively based on the prospects of the University.
- An MBA in Marketing can also prove to be helpful while looking for a higher degree and better learning.
Not eligible to pursue this career?
Find out different career options based on your current academic accomplishments. Enquire with our career experts and build a roadmap to your career success!
Tasks to perform as a Market Research Analyst:
Knowledge & Skills Required
Market Research Analysts must possess a wide array of skills to succeed in their careers. Here are the key knowledge areas and skills needed to excel in this field:
| Knowledge Required | |
|---|---|
| Understanding of qualitative and quantitative research methods. | Proficiency in statistical software and data analysis techniques. |
| Insight into consumer preferences and behaviors. | Awareness of current and emerging market trends. |
| Basic knowledge of economic principles affecting markets. | Familiarity with the specific industry in which they work. |
| Skills Required | |
|---|---|
| Problem-Solving | Analytical Thinking |
| Communication | Technical Proficiency |
| Time Management | Attention to Detail |
Understanding What are soft skills? and why is it important,as they complement technical abilities and enhance overall performance in the field of Market Research Analyst.
The Knowlegde and Skills don't intrigue you?
The reason is that your interests don't align with this career. Identify your interests and match them with careers that require those skills. This alignment will help you grow and succeed in your career faster than you might expect!
Job roles offered for a Market Research Analyst:
Once you acquire the necessary qualifications for becoming a Market Research Analyst or Marketing Specialist, numerous opportunities open up. You can engage in various projects or branch into different fields.
Account Managers build long-term relationships with clients and ensure products are delivered on time and to satisfaction. They manage client contracts, lead a team of Account Managers, and oversee service requirements.
These analysts boost a company's online presence by evaluating data and improving content strategies. They handle email campaigns, social media, PPC ads, and digital rebranding, and report on campaign performance and ROI.
Research Analysts interpret market data to provide actionable insights for investment planning. They can work in banking, stocks, or finance, either on a contractual basis, through an agency or in-house.
Market Researchers collect and analyze data to guide business decisions. They specialize in quantitative (numerical data) or qualitative (opinions) research, providing insights into consumer attitudes and market dynamics.
These experts manage a company's public image and work with the media to enhance product visibility. They may work in public relations, campaign management, or corporate image consulting, depending on the industry.
Not sure where you fit in?
With the wide variety of careers and job roles available, pinpointing the best option for you can be challenging. Thorough analysis and dedicated sessions can provide clarity on what to study, which industry and role to pursue, and the most suitable career path to follow.
Career Opportunities for a Market Research Analyst:
Market Research Analysts can opt for various fields of work in the companies listed below:
| Futures First | Deloitte | IBM |
| Tata Consultancy Service | IDC (International Data Corporation) | Nielsen |
| Ziff Davis | MarketsandMarkets | IndustryARC |
| Beroe Inc. |
Colleges offering courses for Market Research Analyst:
Here is the list of colleges offering the Best courses after 12th:
| JBIMS Mumbai - Jamnalal Bajaj Institute of Management Studies | School of Business, University of Petroleum and Energy Studies, Dehradun |
| MSU Baroda - Maharaja Sayajirao University of Baroda | School of Management, Dr DY Patil University, Navi Mumbai |
| IGNOU Delhi - Indira Gandhi National Open University | KJ Somaiya SIMSR - K J Somaiya Institute of Management |
| Welingkar Mumbai - Prin LN Welingkar Institute of Management Development and Research | SIMSREE Mumbai - Sydenham Institute of Management Studies Research and Entrepreneurship Education |
| BIMM Pune - Balaji Institute of Modern Management | Institute of Management Studies, Devi Ahilya University, Indore |
End Note
Becoming a Market Research Analyst offers a rewarding career filled with opportunities to impact major business decisions. By following the outlined steps and developing the necessary skills, you can embark on this exciting journey. If you’re ready to explore your career options, SetMyCareer is here to guide you through Career counselling after graduation every step of the way. Reach out to us today to get started!
In this Career Outline
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