Sie sind auf Seite 1von 7

Phillip Wittke!

BUS 1010!
Assessing a Career!
in Business: Essay!
4/20/15!

!
Assessing a Career in Business:!
Market Research Analyst!

!
Job Description !
A Market Research Analysts day-to-day, and other major responsibilities include;
collecting and interpreting information regarding product sales, consumer interests and
purchases, employee satisfaction, and other areas of the business market. The information obtained from an analyst is used by clients to determine target consumers, the optimum market price for products and services, taylor advertising and marketing campaigns, and create an image that will develop brand loyalty, as well as other marketing
factors. (Ebsco, 2013) All of this helps to improve an organizations efficiency in the use
of the tools included in the promotional mix. (Solomon, 2014) A market research analyst can obtain their information by a variety of means. Some of those include, conducting surveys and questionnaires through telecommunication (such as cold-calling,) and/
or the internet and social media. They can also perform one-on-one interviews, assemble focus groups, and experience first-hand through observations or direct contact during field work.!
The major responsibilities of a market research analyst may be simplified to three
tasks; data collection, data interpretation, and the presentation of their results. Analysts
may work as independent consultants, within a consulting firm, corporation, or govern-

ment organizations. The work environment is typically in professional office settings,


however, data collecting may include field work in direct contact with consumers, and
employees. (Ebsco, 2013) !
!
General Career Path !
To become a market research analyst, most people begin with experience in
business, marketing, or sales. Experience that includes data analysis, writing reports, or
collecting data can also be attractive to prospective employers. Most employers require
a bachelors degree in market research or a related field of study, (I will talk more about
education a little later,) and many market research analysts begin with internships or in
other related business jobs. (bls.gov, 2015) Eventually, a market research analyst with a
masters degree may work in leadership positions or perform more technical research
tasks, that typically results in higher pay.!

!
General Education Experience !
Typically, a market research analyst must obtain a bachelors degree in market
research for an entry-level position, while leadership positions or jobs that require more
complex research may require a masters degree. Some market research analysts may
also have degrees in, or have studied; statistics, math, computer sciences, social sciences, business administration, and/or communications. Courses in psychology, and
economics are also recommended. (bls.gov, 2015)!
Certification is not necessary, however, many analysts pursue them to demonstrate a level of competency, and set themselves apart from the competition. One type

of certification that can be obtained is issued by the Marketing Research Association.


This is called the Professional Researcher Certification (or PRC) for market research
analysts. To acquire this certification candidates must pass an exam, be a member of a
professional organization, and have at least three years of working experience in opinion and marketing research. (bls.gov, 2015)!

!
Average Salary !
The salary for market research analysts can vary quite a bit. In 2013, the overall
yearly average was around $60,800. The average entry-level salary was between
$34,000/yr and $44,000/yr, and more experienced analysts can earn around $85,000/yr.
The highest paid professionals in this career field can earn more than $114,000/ yr.
(bls.gov, 2015)!

!
Career Outlook !
The career outlook for market research analysts is very good. According to the
Bureau of Labor Statistics, a 32% job growth is estimated to occur from the year 2012 to
2022 (bls.gov, 2015) This projection is faster than the average of other related careers.
(Ebsco, 2013) This may be due to the increasing number of businesses that are being
created, and the increased need for research companies to be employed by government, college, or other not-for-profit organizations. !

!
!
!

Bio of someone in the profession !


Dr. James U. McNeal is one of the more well-known market research analysts.
His fame comes from his theories and analysis of children's consumer behavior, (which
has been estimated to influence over $550 billion in purchases) (Leimbach, 2000). He
identified that children have a massive impact on the market by their influence on a families purchases. James McNeal has been a frequent consultant to many public companies and the federal government. He was a professor of Marketing at Texas A&M University from 1967 to 2000, where he established and served as the department head of
the Department of Marketing. Since 1976, James McNeal has been specializing in, and
has been considered the authority of, marketing to children as consumers. He is a former board member for Tween Brands, and is the president of the youth marketing consulting firm, McNeal and Kids. (Tween Brands, 2002)!

!
Pros and Cons!
Some of the advantages that I have identified to be associated with becoming a
market research analyst are; 1. Job security: The outlook for this career is growing. As
more and more businesses are being created, they will always have a desire to reach
more consumers in the most efficient and productive way possible, therefore, there will
always be a need for specialists to collect and analyze data to determine (or help create) the wants and needs of, as well as identify, the target consumers. 2. Studying the
way populations think and behave can be beneficial not just for improving business, and
advertising endeavors but can also have morally sound value as well. Such as the research needed for government or non-profit organizations, in developing laws and poli-

cies, identifying social problems, spreading a message, or improving society in other


ways, and that would be rewarding to me. 3. Another benefit to being a market research
analyst, is that it can provide insight into marketing paths you may want to take if you
decide to open your own business. 4. Lastly, the pay is not too bad either.!
Some of the disadvantages that I can foresee with being a market research analyst are; 1. Some morally challenging issues regarding the way you obtain data, and
how it is used. 2. Working in an uptight office environment. 3. Long hours and tight
deadlines. (Bratcher, 2013) !

!
Your fit with this career!
!

I believe that this career could suit me fairly well. I am interested in learn-

ing about the behavior of people, both individually and as a society. I also think that,
working for the right organization, I could help influence change that would benefit society. Another reason why I would like to work as a market research analyst, is to gain
knowledge to help me one day create a successful business of my own. !
Some of the things I think I would not like about being a market research analyst
are working in a formal environment all of the time, trying to meet deadlines, and spending a lot of time calculating and analyzing numbers. I also do not agree with certain
techniques that are used to obtain information that may jeopardize anyones privacy or
support annoying advertising methods, such as spam and pop-ups. !
I think that a career in marketing research analysis could be an honest and rewarding job. However, I can also see that under certain circumstances, the data that
you may analyze, and the means that are needed to obtain that data, can result in some

morally challenging dilemmas. Not to mention how dull analyzing statistics and working
long hours in an office sounds.!

!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!

!
!

Sources:!

bls.gov (Bureau of Labor Statistics). (2015). Market Research Analysts. !


!
U.S. Department of Labor, Occupational Outlook Handbook, !2014-!
!
15 Edition. web. 4/21/2015!
!
URL: http://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm#tab-4!

Bratcher, Emily, H. (2013). Best Business Jobs: Market Research ! !


!
Analyst. U.S. News. web. 4/21/2015!
!
URL: http://money.usnews.com/careers/best-jobs/market-research-!
!
analyst!

Ebsco Host. (2013)Research Starter. Derived from: Market Research !


!
Analyst. Careers and Colleges. Great Neck Publishing. (2014). !
!
Salem Press !Encyclopedia./ EbscoHost. Web article. 4/20/2015!

Leimbach, Dulcie. (2000) Marketing; where ads aimed at kids come to !


!
life. New York Times. web. 4/21/2015!
!
URL: http://www.nytimes.com/2000/12/13/business/marketing-!
!
where-ads-aimed-at-kids-come-to-life.html!

Solomon, Michael, R. et al. (2014). Better Business: Third Edition.!


!
Pearson Education Inc. 418. Text. 4/20/2015!

Tween Brands. (2002) James U. McNeal Biography. EquilarAtlas. web. !


!
4/21/2015!
!
URL: http://people.equilar.com/bio/james-mcneal-tween-brands/!
!
salary/50895#.VUKZ52RViko!

!
!