Along with the creative and technical aspect of any product or service, marketing is the third most critical factor for a successful business venture. Effective marketing has become the mantra and companies across the world invest a great deal to leverage its huge power. A marketing analyst is a relatively new addition to this field but can add great value to the entire marketing plan of the company.

Marketing Analyst – Job Profile

Among the various activities, the major responsibilities of a marketing analyst are as follows:

1. The foremost task is to conduct an extensive market research and understand the views and opinions of the customers, especially with respect to the product or service of the client. Also, understand the needs of the customers and based on their opinions make changes in the product or service if necessary.

2. Often they are the link between the customers and the company and thus need to ensure that both the parties benefit from them.

3. The role of the market analyst becomes especially critical in the FMCG (Fast Moving Consumer Goods) sector which has severe competition.

4. The analysis forms the base on which companies take important decisions like changes in design, technical aspect, upgrading the quality and look of the product.

5. Also, another important area of work for market analysts is to explore new potential markets where the product or service can be introduced. These decisions would be taken on the basis of the target audience and the nature of the product or service.

6. Analysts also need to prepare detailed reports of their findings and present it to the senior management or their clients.

7. To obtain maximum customer information, they are also required to prepare surveys or questionnaires.

8. Most companies today use sophisticated tools and software to secure actionable data. Thus, the analysts need to work extensively on these tools to derive the required information.

9. Based on the data, they also often prepare the framework for marketing strategies for the companies or clients.

10. Competitor intelligence is yet another crucial area for any marketing initiative. Thus, analysts too need to constantly track the marketing strategies adopted by the rival companies and devise or modify their plan accordingly.

11. Analysts also need to co-ordinate with market researchers and interviewers to get the most comprehensive set of data.

To be able to handle these tasks, some of the key skills required in the candidate's resume are analytical thinking and swift decision-making capacity. Also, they must be able to drilldown every marketing strategy to test its effectiveness and at the same time look at it in totality.

Usually most fresh market analysts start with an average salary of $35,000 to $45,000. Freshers are especially recommended to carefully prepare their marketing analyst CV based on a professionally done sample resume.

Medium and senior level analysts can earn anything between $60,000 up to $80,000. However, some expert analysts with a vast experience have also known to draw a remuneration of above $100000.

Customer taste and preferences are extremely dynamic and it is very important for companies to always be on the pulse of the market. Marketing analysts help companies to keep up with the changing trends in the market.