Becoming a Marketing Business Analyst

A marketing analyst is a person who performs tasks like collecting data and analyzing them for evaluating products and service markets for existing as well as potential categories. A marketing analyst career requires the marketing analyst to monitor and identify the conditions of the research market, or the competitors or the changes in the industry that affect the sales procedures. The sales marketing analyst determines the conditions of the market and studies its evolving possibilities as well as potential threats that it is likely to pose to a firm or organization. Some of the key aspects of marketing analysis include the following:

• Current and future market size
• Growth rate of the market
• Profitability
• Cost structure of the industry
• Channels of distribution
• Market trends
• Important success factors

The marketing analyst jobs take into account the formulation of the basis of a company's marketing plan and focus the resources on improving the sales and gaining an edge over the competitors. The marketing analyst career is a mix and match of the indoor as well as outdoor activities like staffing promotional events and handing out the flyers. The responsibilities of a marketing analyst involve the following:

• Being detail oriented
• Organized
• Patient
• Analytical

The educational qualifications of a marketing analyst career involve a bachelor's degree in any of the following fields:

• Marketing
• Finance
• Economics
• Business

You may also take up additional courses while you are in school and continue studying once you have completed your graduation. The subjects of specialization in this regard are:

• Computer science
• Survey department
• Research analysis
• Foreign language

The analyst must be skilled at coordinating with the others since the demands of the job consist of collecting information on and interviewing consumers. The marketing analyst presents his findings to the company. Some of the important skill sets of a sales marketing analyst include:

• Gathering and analyzing data like consumer surveys and sales statistics
• Focusing group opinions about the products of your company for determining the best methods of marketing them to the public

Get trained as a marketing analyst by training at an engineering company or hospital for learning more about your business. You can also be prepared to solve the latest problems related to marketing and its pros and cons. Training also helps in receiving good contacts as well as recommendations for your future jobs.

Experience in marketing analyst jobs helps in focusing on developing on oral and written communication as the skill for communicating clearly and precisely helps in every aspect of the work. For a start, experience in marketing or finance roles is helpful and a lot of employers require at least a couple of years' experience before you can be a marketing analyst. Hence, it is best to look for an opportunity that offers you the best possibilities for honing your skills and making the best use of your education.

The global career prospects are good for the marketing analyst jobs as the markets are expanding and newer opportunities are becoming available. If you focus on work that is outside the conventional tenets of your job you will end up getting better opportunities. In fact, according to the United States Bureau of Labor Statistics, the careers of the marketing analysts are expected to grow at a faster rate until the year 2014. Some of them are as follows:

• Health care industry
• Insurance companies
• Military
• Advertising firms

The median annual salary for the marketing analyst jobs ranges from $56,000 to $77,000. If you happen to be more experienced, you can expect to draw more. Some of the additional packages take into account the following:

• Leaves
• Medical benefits
• Insurances

The marketing analyst career is a challenging one since it is a profile that comes with stiff competition. This is the reason why merely having a bachelor's degree may not be enough. Moreover, having a master's degree without work experience may not be beneficial either. Marketing analyst jobs combine the processes of planning and executing the market strategy for products, ideas, and services for enhancing sales. This is why a sales marketing analyst needs to analyze and study the different kinds of needs and requirements of the products and services. The marketing analyst must have skill and experience to handle a task competently.