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Career Definition for a Buyer Behavior Analyst
Buyer behavior analysts, also called customer behavior analysts, are marketing analysts who specialize in knowing what drives customer purchasing practices. Buyer or customer behavior analysts may specialize in either the industrial or private sector. Data collection, close monitoring of market trends, and evaluating marketing potential in existing and emerging product and service ranges are common responsibilities for buyer behavior analysts. They understand and use different marketing models and evaluation tactics to identify buyer traits and marketing opportunities.
|Required Education||A bachelor's degree and 1-2 years of field experience; master's or Ph.D. required for some positions|
|Job Duties||Include data collection, evaluating marketing potential and monitoring market trends in industrial or private sectors|
|Median Salary (2015)*||$62,150 (all market research analysts and marketing specialists)|
|Job Outlook (2014-2024)*||19% growth (all market research analysts and marketing specialists)|
Source: *U.S. Bureau of Labor Statistics
Those seeking a career in buyer behavior analysis will need a bachelor's degree with 1-2 years of field experience. Some positions, such as tenured university instruction and consultancy, require a master's degree or Ph.D. as well. Education related to buyer behavior analysis includes marketing and marketing research programs.
Successful buyer or customer behavior analysts require a high level of professionalism and the ability to actively synthesize large amounts of data. They must also be able to articulate their findings and develop strategies targeting specific purchasing behaviors. Analysts of buyer or customer behavior must also be highly organized with impressive quantitative skills.
Job and Economic Outlook
The U.S. Bureau of Labor Statistics (BLS) projects that market research analyst employment may grow 19% for the decade spanning 2014-2024 (www.bls.gov). The BLS also reported in May 2015 that market research analysts and marketing specialists made a median annual wage of $62,150. Graduates with 4-year degrees are likely to experience the most significant competition, and those with master's and Ph.D. degrees may find more abundant job opportunities, including prized consulting positions.
Alternate Career Options
Here are some examples of alternative career options:
Normally having a master's degree in fields like statistics, survey research or marketing, in addition to previous related work experience, these researchers analyze data gleaned from surveys. A faster-than-average rise in jobs of 12% was predicted by the BLS for the 2014-2024 decade. According to BLS records, survey researchers earned an annual median salary of $53,920 in 2015.
Statisticians usually earn master's degrees in math, statistics or survey methodology; those interested in research or teaching normally study further for a Ph.D. These professionals collect and analyze data to solve business, scientific and engineering problems. Much faster-than-average employment growth of 34% was expected by the BLS from 2014-2024, and an annual median wage of $80,110 was reported for statisticians in 2015.