What Market Research Analysts Do

Market, or marketing, research analysts gather information about what people think, in order to help companies understand what types of products people want, at what price. They help companies market their products to people who are the most likely to buy them. They examine distribution, prices, sales, and methods of marketing, and gather statistical data on competitors. They analyze data on past sales to predict future sales.

Market research analysts devise methods and procedures for obtaining the data they need. They often design surveys to assess consumer preferences through Internet, telephone, or mail responses. They conduct some surveys as personal interviews, going door-to-door, leading focus group discussions, or setting up booths in public places such as shopping malls. Trained interviewers usually conduct the surveys under the market research analyst’s direction.

After compiling and evaluating the data, market research analysts make recommendations to their client or employer. They provide a company’s management with information needed to make decisions on the promotion, distribution, design, and pricing of products or services. The information also may be used to determine the advisability of adding new lines of merchandise, opening branches of the company in a new location, or otherwise diversifying the company’s operations. Market research analysts also might develop advertising brochures and commercials, sales plans, and product promotions such as rebates and giveaways.

(Source: BLS)