Employment of market research analysts is projected to grow 19 percent from 2014 to 2024, much faster than the average for all occupations. Job prospects should be best for those with a master’s degree in market research, marketing, statistics, or business administration. Those with a strong quantitative background in statistical and data analysis or related work experience will have better job opportunities than those without it.
Employment growth will be driven by an increasing use of data and market research across all industries—to understand the needs and wants of customers and to measure the effectiveness of marketing and business strategies.
In addition, market research provides companies and organizations with an opportunity to increase sales and cut costs. Companies increasingly use research on consumer behavior to develop improved marketing strategies. By doing so, companies are better able to market directly to their target population.
Market research also lets companies monitor customer satisfaction and gather feedback about how to improve products or services, allowing companies to build an advantage over their competitors. They may use research to decide the location of stores, placement of products, and services offered. As more companies use research to develop marketing strategies, competing companies will likely engage in similar market research.
Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2016-17 Edition
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