What does a Market Analyst do?

A market analyst is responsible for studying market conditions to assess the potential sales of products and services. The successful market analyst will be able to analyze qualitative data, trends, strategies, and competition aiming at increasing competitiveness. The goal of a market analyst is to assist companies to determine what products are in demand, who will purchase the products and the price they are willing to pay. The majority of market analysts are employed by marketing agencies varying in size within different companies and industries.

A Bachelor's degree in Marketing or Statistics along with demonstrable experience is required for market analyst positions. Successful marketing analysts possess excellent analytical and numerical skills and are deeply creative with great problem-solving skills.

  • Perform valid and reliable market research SWOT analysis
  • Utilize online market research and catalog findings to databases
  • Devise and evaluate methods for collecting data (Surveys, Questionnaires, Opinion Polls)
  • Formulate a plan and present it to senior management or a client
  • Interpret data, formulate reports and make recommendations
  • Gather and analyze statistical data using modern and traditional methods to collect it
  • Design specific research methods such as questionnaires
  • Remain fully informed on market trends, other parties researches and implement best practices
  • 5+ years experience in marketing or related field
  • Posses search engines, web analytics, and business research tools acumen
  • Excellent knowledge of statistical packages (SPSS, SAS or similar), databases and MS Office
  • Strong communication and presentation skills
  • Deep knowledge of data warehousing, and mining
  • Adequate knowledge of data collection methods (polls, focus groups, surveys etc)
  • Working knowledge with CRM programs
  • Strong analytical and critical thinking
  • Advise clients or senior management on the best ways to use provided data

Average Years of Experience

0 - 1
33%
2 - 4
55%
5 - 7
5%
8+
7%

Common Skill Sets

Statistics
Digital Channel
Microsoft Office Suite
Google Analytics
Excellent Communication
Predictive Modeling
Critical Thinking
Adobe Analytics

Market Analyst Seniority Levels

Technical Marketing Specialist
18% made the transition
Digital Marketing
26% made the transition
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Market Analyst Salaries

Average Base Pay

$3,500 /month
Same as national average
Not including cash compensation
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$1K
Median: $4K
$10K
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Glassdoor Estimated Salary

Market Analyst jobs

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