Market Research Analyst

Working as part of a team of marketing professionals, market research analysts:

• research the market potential of a product or service
• identify factors that may enhance product or service acceptance
• determine the nature and size of market segments
• help companies determine their position in the marketplace
• help develop and evaluate marketing and communications programs
• measure customer and employee satisfaction
• track market trends.

Depending on the nature of the employing organization, this may involve activities such as:

• keeping track of industry statistics and monitoring trends in trade literature
• collecting and analyzing information about competitors and market shares
• conducting or commissioning primary research such as telephone surveys, focus groups or written surveys
• researching secondary (published) sources or purchasing syndicated or proprietary research from outside suppliers
• analyzing and presenting research findings
• modelling and analyzing customer response information contained in customer transaction databases
• forecasting the size of future markets.

Market research analysts work primarily in office environments. They may be required to work long hours to meet project deadlines or adjust their schedules to meet with people who are not available during regular business hours. Some travel may be required to meet with clients or supervise surveys.

Market research analysts need the following characteristics:

• an interest in analyzing and interpreting statistical data
• critical thinking ability 
• the ability to work effectively with many different types of people
• excellent listening, communication and presentation skills.

They should enjoy co-ordinating information, planning and administering projects, developing policies and programs and consulting with others.

Above-average occupational growth is expected in Alberta for 2016 to 2020. Job openings are a result of employment turnover and newly created positions.

Market research analysts are employed by:

• manufacturing, processing and other large corporations
• market research suppliers
• management consulting firms
• advertising agencies
• business associations
• government departments.

Advancement opportunities vary depending on the analyst's qualifications, skills and work ethic, and the size and nature of the organization. Those who are the most effective at selling their ideas are the mostly likely to advance.

Market research analysts are part of the larger 2011 National Occupational Classification 4163: Business development officers and marketing researchers and consultants. In Alberta, 78% of people employed in this classification work in the following industries:

• Professional, Scientific and Technical Services
• Mining and Oil and Gas Extraction
• Public Administration
• Finance, Insurance, Real Estate and Leasing
• Manufacturing
• Wholesale Trade
• Information, Culture and Recreation
• Transportation and Warehousing.

The employment outlook in this occupation will be influenced by a wide variety of factors including:

• trends and events affecting overall employment (especially in the industries listed above)
• location in Alberta
• employment turnover (work opportunities generated by people leaving existing positions)
• occupational growth (work opportunities resulting from the creation of new positions that never existed before)
• size of the occupation.

Over 4,400 Albertans are employed in the Business development officers and marketing researchers and consultants occupational group. This group is expected to have an above-average annual growth of 1.8% from 2016 to 2020. As a result, 79 new positions are forecast to be created each year, in addition to job openings created by employment turnover. Note: As market research analysts form only a part of this larger occupational group, only some of these newly created positions will be for market research analysts. 

Employment turnover is expected to increase as members of the baby boom generation retire over the next few years.