What does a Market Analyst do?
Market analysts study market conditions to examine potential sales of products or services. They help companies understand the products people want, target demographics for purchasing the products, and the necessary price points. They monitor and forecast marketing and sales trends and measure the effectiveness of marketing programs and strategies. They research and collect data to help companies market their products and services, and consider data including consumer demographics, preferences, needs, or buying habits.
Market analysts gather their information through interviews, questionnaires, focus groups, and public opinion polls. They help determine the company’s position in a marketplace by researching competitors and analyzing them for prices, sales, and marketing methods. Their research informs potential markets, product demand, and pricing. Market analysts need a bachelor’s degree in market research or related fields including statistics, math, or computer science. Some market analysts also go for voluntary certification.
Market Analyst Salaries
Average Base Pay
Market Analyst Insights
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Market Analyst Interviews
Market Analyst jobs
Frequently asked questions about the role and responsibilities of a market analyst
When working as a market analyst, the most common skills you will need to perform your job and for career success are Statistics, Digital Channel, Microsoft Office Suite, Google Analytics and Excellent Communication.
- Digital Marketing
- Marketing Coordinator
- Marketing Communications Specialist
- Marketing Manager
The most common qualifications to become a market analyst is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.