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Marketing Analyst Job Description

Marketing analysts shoulder the responsibility of conducting research, analyzing research data, preparing reports to find and suggest the business potential of a product or service in the market. The job of a marketing analyst is similar to that of a market research analyst in most ways. They are employed in marketing consulting firms, with senior marketing consultants or work in corporate offices.

Job Duties:

A market analyst may have to conduct extensive research. They will have to study and analyze marketing data and reports and prepare reports about the possibility of success of new business, expansion of an existing business or launching of a new product. A market analyst may have to:

1) Prepare questionnaires for marketing research.
2) Take samples for survey.
3) Conduct direct or indirect method of data collection.
4) Deploy a team of data collectors or surveyors to collect data on phone, via the Internet or with the help of face-to-face interview.
5) Instruct the team about various nuances of data collection.
6) Marketing analysts may use data collected by marketing research analysts.
7) Organize the collected data and study them.
8) Understand the data collected and prepare reports.
9) Give presentations of reports prepared and clarify doubts of senior managers of the organization.
10) Suggest ways of improving the marketing strategies of the organization.

Knowledge and Skills:

1) Thorough knowledge of the markets: local, domestic and international.
2) Complete awareness of competing products in the market.
3) Local, state and federal laws concerning a product or service.
4) Excellent skill in preparing charts and diagrams.
5) Solid command over studying complex data and analyzing them.
6) Good deduction capability.
7) High level proficiency in computer operation.
8) Should have an eye for detail.
9) Should have good interviewing skills.
10) Must be able to present their findings both orally and in person.

Educational Qualifications and Experience:

1) A bachelor’s degree in business, mathematics, economics or statistics is essential for a Marketing analyst’s job.
2) An advanced degree such as a master’s degree or doctorate degree is highly preferred for a market analyst job.
3) Certificates obtained from Market Research Association (MRA) help in advancement in the career. They are called Professional Researcher Certification.

Salaries and Benefits:

1) According to Payscale.com the salary of marketing analysts ranges from $38,745 to $55,967 per annum. Those employed in the computer design and related services earned a median wage of $77,170, reports the Labor Bureau of Statistics.
2) As employees they are eligible for all standard benefits as per rules and as determined by their employers.