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What is a Market Research Analyst: Roles, Skills, Salaries, and How to Build Your Career in 2025

What is a Market Research Analyst: Roles, Skills, Salaries, and How to Build Your Career in 2025

Q: 1. What does a Market Research Analyst do?

A Market Research Analyst gathers and analyzes data to help businesses understand customer preferences, market trends, and competitor strategies.

Q: 2. What skills are essential for a Market Research Analyst?

Key skills include data analysis, statistical tools, communication, critical thinking, and expertise in tools like Tableau, SQL, and Google Analytics.

Q: 3. Is a degree necessary to become a Market Research Analyst?

A bachelor’s degree in business, marketing, economics, psychology, or statistics is typically required.

Q: 4. How much can a Market Research Analyst earn in India?

On average, entry-level analysts earn INR 4.4L, mid-level professionals earn INR 5.4L, and experienced analysts can earn INR 5.9L or more.

Q: 5. What industries hire Market Research Analysts?

Industries like e-commerce, FMCG, healthcare, IT, and finance actively hire Market Research Analysts.

Q: 6. What certifications can help me become a Market Research Analyst?

Certifications in data analytics, marketing analytics, Tableau, and Google Analytics can boost your credentials.

Q: 7. How is a Market Research Analyst different from a Data Analyst?

A Market Research Analyst focuses on customer behavior and market trends, while a Data Analyst works on broader organizational data insights.

Q: 8. What are the growth prospects in this field?

The role is expected to grow by 8% by 2033, offering significant career opportunities globally and in India.

Q: 9. Can I become a Market Research Analyst without prior experience?

Yes, starting with entry-level roles like marketing coordinator or research assistant can help you build relevant skills.

Q: 10. How does upGrad help build a career as a Market Research Analyst?

upGrad offers comprehensive programs, hands-on projects, and certifications to help you master the skills needed to excel in this field.

By Keerthi Shivakumar

Updated on Dec 30, 2024 | 11 min read | 1.4k views

Table of Contents

Did you know that the global market research industry is currently worth over $84 billion and shows no signs of slowing down? In the modern business landscape, relying on data-driven decisions is a fundamental necessity for success.

This is where market research analysts step in, acting as the bridge between raw data and actionable insights. These professionals entitle companies to fine-tune marketing strategies, boost customer engagement, and maximize revenue.

This article explores the role of a market research analyst, key market research analyst skills, salary trends, and how you can prepare for a thriving career in 2025.

Let’s get started!

What Is a Marketing Research Analyst and Why Are They Needed?

Ever wondered how companies know what you need before you do? That’s the major role of a market research analyst.

They are the real expert behind every data-driven business decision. Market research analysts provide insights that shape successful marketing strategies by analyzing markets, competitors, and customer behavior.

Market research analyst is mainly needed for:

Helping businesses adapt to changes quickly.
Ensuring every penny spent delivers results.
Turning data into actionable insights for growth.
Providing a clear edge over competitors.

To get more into marketing and the digital world, explore upGrad's comprehensive digital marketing courses and start your learning journey today!

Transitioning from their importance to their actual work, you might wonder — what does a market research analyst actually do? Let’s see further!

What Does a Market Research Analyst Do? Roles and Responsibilities

Think of them as problem-solvers with a data-centric approach. Their primary goal is transforming numbers, trends, and consumer behaviors into clear recommendations that fuel business growth.

Here’s a closer look at their responsibilities:

Harnessing Data/Data Collection: Designing surveys, conducting interviews, and leveraging analytics tools to gather insights.
Data Analysis and Reporting: Using statistical models to extract trends and actionable patterns from raw data.
Market and Brand Research: Evaluating market performance and brand positioning to inform strategies.
Product Testing: Assessing new products and features to understand customer preferences.

Also Read: Understanding and Conducting Market Research Like Experts

Now, let’s look at the types of research a market research analyst conducts!

What Type of Research Does a Market Research Analyst Conduct? Explained

As a market research analyst, you employ various research methods to help businesses make informed decisions. These approaches — rooted in numbers and narratives — uncover patterns, trends, and customer behaviors that shape effective strategies.

Let’s explore the primary categories of research they rely on:

Qualitative Research: You collect non-numerical data to understand the why behind decisions — exploring customer motivations, emotions, and opinions through interviews and focus groups.
Quantitative Research: Gathering measurable data, you identify patterns and trends that back up decisions with complex numbers. Tools like surveys and statistical models allow you to deliver concrete insights.

For a detailed comparison, read Qualitative vs. Quantitative Research: Differences and Methods!

Now, let’s dig deeper into specific types of research a Market Research Analyst undertakes.

Customer-Focused Research

Your research starts with the customer. To craft resonate strategies, you gather data to uncover what customers want, how they behave, and what keeps them returning.

1. Primary Research: You collect firsthand data directly from customers through:

Surveys: Ask targeted questions to gather customer preferences and opinions.
Interviews: Engage in one-on-one conversations to explore deeper motivations.
Focus Groups: Facilitate group discussions to capture collective insights.

2. Secondary Research: You analyze existing data from:

Industry Reports and Studies: Leverage pre-published insights to understand market trends.
Public Data Sources: Use government and third-party databases to gain a broader perspective.

3. Customer Acquisition

You design strategies to attract new customers by identifying their demographics, preferences, and needs. For instance, you might refine a product launch based on feedback or spot untapped audience segments.

4. Customer Retention

Keeping existing customers happy is just as important. You use feedback surveys and satisfaction studies to recommend ways to improve customer loyalty and build stronger relationships.

Also Read: Consumer Behavior in Marketing: Understanding the Psychology

Market Exploration and Competitor Analysis

Expanding into new markets or staying competitive requires digging deep into market dynamics. You play a vital role in helping businesses uncover opportunities and outpace their rivals.

1. Competitor Research

You analyze competitors to identify what they’re doing right and where they’re falling short. This includes evaluating their pricing strategies, product offerings, and market positioning to give your company the upper hand.

2. Product Research

Assessing how products perform in the market and identifying areas for improvement is essential. Whether enhancing features or spotting gaps in offerings, good research ensures products stay relevant.

3. Market Opportunities

Uncovering unmet market needs and recommending strategies to address them plays a pivotal role in driving business success. Whether launching a new product or pivoting a service, your insights help businesses seize the right opportunities.

Also Read: How to do Competitor Analysis? Step-by-Step Guide

Brand Positioning and Competitive Analysis

You ensure businesses not only compete but also stand out. By focusing on brand positioning, you help organizations create a lasting impression in customers’ minds.

1. Brand Perception

Study how customers view a brand and uncover insights that build trust and loyalty. Your research ensures brands align with customer expectations and values.

2. Competitive Landscape

You must assess competitors’ strengths and weaknesses to help businesses refine their positioning and dominate their niche.

Also Read: How to Strategically Launch Your Brand

Campaign Evaluation and Optimization

Your job doesn’t end with a campaign launch. You ensure marketing efforts deliver maximum results by analyzing performance and fine-tuning strategies.

1. Marketing Insights

Collecting data on customer interactions with campaigns helps identify the most effective tactics. Your findings guide businesses to allocate budgets smarter and maximize returns.

2. Testing and Feedback

Here, techniques like A/B testing are used to evaluate different campaign strategies. By comparing results and integrating customer feedback, you ensure every campaign achieves its goals.

For a deep insight into how marketing and branding work together, have a look at upGrad’s course “How do Brands Leverage User Generated Content”!

Mastering the proper market research analyst skills is essential to thrive in this field. Let’s explore!

Key Skills Every Marketing Research Analyst Should Learn

Success as a market research analyst hinges on a blend of technical expertise and workplace capabilities. These skills help you decode raw data, spot hidden patterns, and communicate insights that inspire action.

Let’s break down the market research analyst skills in detail!

Technical Marketing Research Analyst Skills

Your technical skills enable you to dive deep into data, extract meaningful insights, and deliver precise recommendations.

Here are the must-have technical tools in your arsenal:

Data Collection Tools: Platforms like Google Trends and SEMrush are your go-to for uncovering customer behavior patterns, tracking competitors, and staying ahead of market trends.
Statistical Analysis and Visualization Tools: Tools like Tableau and QlikView make complex datasets come alive. You can create stunning visuals that simplify your insights and make them impossible to ignore in a boardroom.
Programming Languages: Knowing SQL and R language transforms how you handle data. From automating repetitive tasks to performing advanced analytics, these skills give you a tech-savvy edge.

Mastering these tools doesn’t just make your work easier — it makes your insights sharper and more impactful.

Next comes the workplace factors!

Workplace Marketing Research Analyst Skills

Technical tools might help you uncover insights, but your workplace skills ensure those insights drive action. Think of these abilities as the glue that connects data to decisions.

Data Interpretation: It’s one thing to collect numbers; it’s another to uncover the story they’re trying to tell. Your knack for spotting trends and connecting them to business goals sets you apart.
Critical Thinking Skills: Ever been in a situation where the data just doesn’t add up? Your ability to ask questions and dig deeper ensures nothing slips through the cracks.
Communication Skills: Insights lose their power if they aren’t communicated effectively. Your ability to simplify complex data into actionable ideas is your superpower.
Interviewing and Survey Techniques: Great research starts with asking the right questions. Whether designing a survey or conducting interviews, you gather meaningful data that addresses real-world problems.

Also Read: Workplace Communication: Key Types, Methods, and Its Importance

As you step into the role of a market research analyst, remember — it’s not just what you know but how you deliver it that makes all the difference.

So, let us get into a detailed guide to becoming one!

How to Become a Marketing Research Analyst: A Step-by-Step Roadmap

Becoming a market research analyst is an exciting journey that blends analytical skills with strategic thinking. If you’re ready to step into this dynamic field, here’s a clear roadmap to help you achieve your career goals:

1. Education: The first step is building a strong academic foundation.

Earn a bachelor’s degree in business, marketing, economics, psychology, or statistics. These disciplines provide essential knowledge of consumer behavior, market dynamics, and data analysis.
If you’re aiming for senior roles, consider pursuing a master’s degree in marketing analytics or data science to deepen your expertise.

2. Start with Related Entry-Level Roles: You don’t have to start as a full-fledged Market Research Analyst right away.

Look for entry-level roles like marketing coordinator, data analyst, or research assistant. These positions offer exposure to data-driven decision-making and help you build foundational skills.
Internships are also fantastic for gaining hands-on experience and understanding industry workflows.

3. Build Technical Skills: The more technical skills you have, the better.

Get comfortable with tools like Google Analytics, SEMrush, and Tableau for data collection and visualization.
Learn programming languages like SQL, Excel, or R to work with large datasets effectively.
Stay updated on emerging technologies in the market research domain to stay competitive.

4. Take Relevant Courses and Certifications: Upskilling through targeted courses and certifications can set you apart from the competition.

Platforms like upGrad offer relevant specialized resources in mastering data analytics, social media advertising, statistics, and related fields.
Look for certifications in tools and skills, such as Tableau Specialist Certification or Google Analytics Individual Qualification (GAIQ), to validate your expertise.

5. Gain Experience in the Field: Practical experience is crucial to mastering the role.

Work on real-world projects through internships or freelance opportunities to apply your knowledge.
Network with professionals in the field, attend marketing events and join industry forums to stay connected and informed.

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Now, it’s natural to wonder how a market research analyst compares to other roles. Let’s break it down!

Marketing Research Analyst vs. Other Jobs: A Clear Comparison

In the business and data space, roles often overlap, making it hard to differentiate one from another. While a market research analyst shares similarities with other analyst positions, each has distinct responsibilities, focus areas, and contributions.

Let’s compare all these roles side-by-side to clarify how they stand apart.

Key Aspects	Market Research Analyst	Market Analyst	Data Analyst
Primary Role	Analyzes consumer behavior and market trends to guide marketing and product strategies.	Focuses on financial and economic data to predict market movements and investment opportunities.	Interprets large datasets to uncover trends and inform business decisions.
Focus Area	Consumer behavior, market dynamics, and competitor analysis.	Financial markets, economic trends, and industry performance.	Broad business data across sales, operations, and customer behavior.
Required Skills	Survey design, trend analysis, critical thinking, communication.	Financial modeling, data interpretation, forecasting, economics.	SQL, Python, visualization tools, statistics.
Tools Used	SPSS, Tableau, surveys, Excel.	Bloomberg Terminal, Excel, forecasting software.	Python, R, Power BI, SQL, Tableau.
Output	Reports on consumer preferences and strategies to improve marketing or sales outcomes.	Insights on market opportunities, investment risks, and economic trends.	Visualized data reports, trend insights, and predictive analytics.
Career Opportunities	Marketing departments, research firms, consulting agencies.	Financial firms, investment companies, and economic research teams.	Technology companies, consulting firms, analytics teams.

Understanding these differences lets you decide which role aligns best with your career goals.

Also Read: Top 10 Highest Paying Jobs in Marketing in India [A Complete Report]

Curious about the earning potential and career growth as a market research analyst? Let’s uncover what the future holds!

Marketing Research Analyst Salaries and Career Growth: What to Expect

According to the U.S. Bureau of Labor Statistics, this role of market research analyst is expected to grow by 8% from 2023 to 2033, adding about 74,900 new jobs over the decade.

With the rapid digital transformation in India, companies are actively seeking skilled analysts to stay competitive. The emerging trends in this field that can be seen are:

Increasing Demand: Organizations need analysts to decode customer behavior and market trends, ensuring smarter business decisions.
Expanding Industries: Sectors like e-commerce, healthcare, and technology drive demand for market research expertise.
Emerging Skills: Specializations in artificial intelligence, machine learning, analytics, and advanced data visualization tools are reshaping the field.

The earning potential of a market research analyst mainly depends on experience. Entry-level professionals start with competitive salaries, which increase significantly with expertise and specialization.

Here’s a breakdown of average annual salaries by experience level:

Experience Level	Average Annual Salary (INR)
Entry-Level (0-2 years)	INR 4.4L
Mid-Level (3-6 years)	INR 5.4L
Senior-Level (7+ years)	INR 5.9L

Source: AmbitionBox

You see, you can climb the ladder quickly and unlock higher earning potential by upskilling in areas like advanced analytics and marketing strategies!

How Can upGrad Help You Become a Marketing Research Analyst?

As a skilled and passionate market research analyst, you would want to uncover insights and shape business strategies, but how do you get there? That's where the upGrad enters!

upGrad’s programs are designed to make you industry-ready, bridging the gap between theoretical knowledge and practical application. Whether honing your technical expertise or mastering market research analyst skills, upGrad provides everything you need.

Have a look at some of the top courses:

Need help figuring out where to start? Book a career counseling session with upGrad today for personalized advice and discover how to chart your path as a future-ready Market Research Analyst!

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References:
https://explodingtopics.com/blog/market-research-trends
https://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm
https://www.ambitionbox.com/profile/market-research-analyst-salary