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.
- Prepare models in support of marketing and midstream development projects.
- Compile and understand market data in support of marketing efforts.
- Leading contributor individually and as a team member, providing direction and mentoring to others.
- Support business initiatives by identifying key trends in big data that can drive growth for the business.
- Identify, evaluate, and recommend marketing opportunities in support of product line objectives.
- Preparation, review, briefing, and filing of contractual documents and related activities.
- Development and implementation of business plans, marketing strategy, and forecasts for a product/service or vertical market.
- Keep abreast of digital trends and best practices across digital media, CMR, and offline.
- Assist in the development and creation of client marketing materials.
- Manage the quality of inbound and outbound traffic and optimize toward business targets daily.
- Analyze performance trends and identify areas of opportunity to solve a business problem.
- Partner with multi-disciplinary teams to identify and resolve business short-falls and build upon wins.
- Maintain current status of customer specifications for existing and future products.
- Responsible for maintaining geographical territory assignment across channels and providing analysis and reporting of market coverage and major account bid opportunities.
- Demonstrate consistent, outstanding judgment, honesty and integrity in all aspects of job performance.
- Work with internal stakeholders and external partners on conducting analysis and communicate insights.
- Assist in the performance maximization of campaigns across existing and emerging social platforms.
- Acquire and maintain a database of external information to develop market intelligence and knowledge of market fundamentals.
- Bachelor's or Graduate's Degree in information systems, computer science, or engineering or equivalent experience.
- Experience with Google Analytics.
- Fluency in statistics, machine learning, and datasets.
- A critical thinker and problem solver who pays strict attention to detail.
- Demonstrated dedication to the studying and furthering of hypotheses.
- Comfortable with prioritization of tasks alongside root cause analysis and decision making.
- Experience in a consulting position.
- Fluent in Adobe Analytics, Python, SQL, and R Language.
- Demonstrated leadership and decision making skills.
Market Analyst Salaries
Average Base Pay
Market Analyst Career Path
Learn how to become a Market Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Market Analyst Insights
Whirlpool Corporation“The individuals I work with are some of the best and supportive groups I have ever worked with.”
Driftrock“Great culture and flexibility to do your job however and wherever you're comfortable from.”
Columbia University“It was a great learning experience as I had gotten my feet wet into the data and analytics career path.”
Copper Mobile“I am grateful to Rupak Lohit for his guidance and support in helping me choose my career path.”
RXMG“The pay was a little under what I was expecting based on average salaries and my background.”
Intuitive Digital“Team members have no issue lending a hand when you get stuck which is super helpful.”
Target“Huge potential for career growth even if you want to completely change what you’re doing.”
ATCS“Good learning and future is good”
Frequently asked questions about the role and responsibilities of a Market Analyst
- Digital Marketing Manager
- Marketing Coordinator
- Sales and Marketing Manager
- Marketing Manager