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.
Average Years of Experience
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