According to new research, one of the three hottest professions right now is market research and marketing specialist. The profession has grown 10% since 2010, and according to the Bureau of Labor Statistics, it should grow 41% by 2020, much faster than the average for all occupations.
Why are market researchers in such demand? They help companies understand the marketplace: what products people want, who will buy them, and at what price. In other words, they can give companies a huge competitive advantage in their industry as they look to grow revenue and extend their visibility and reach. Market research helps firms to plan ahead rather than to guess ahead.
Other positive aspects of jobs in marketing research? They’re not likely to be outsourced overseas, since an understanding of local culture and customs plays such a large part in the equation.
Individuals with experience in qualitative and quantitative research, database and analysis, business planning and information, and brand and strategic planning are in high demand.
What’s the best path to success in the field? The typical marketing researcher has at least an undergraduate degree, where the field will be competitive but it’s still possible to get a job. Many researchers have advanced degrees, with MBAs becoming more common. This is because it’s not enough to just understand the science of marketing research and consumer behavior. These jobs also require an overall understanding of business. After all, not all decisions are made hard-and-fast based on research results. There are also internal financial, manufacturing, and strategic factors to consider.
As leaders in market research recruitment, Smith Hanley sees the need for market research analysts expanding across all specialties and industries. We find opportunities for our market research candidates within manufacturing, retailing, advertising agencies, consulting companies, independent research companies, nonprofit organizations and more.
If you think market research is a field you’d like to look into, or if you’re ready to take the next step up the career ladder in the industry, contact the market research recruiting team at Smith Hanley Associates. We’d be happy to share our expertise!