Fashion Career Profile: Market Analyst

There is always a big emphasis put on the importance of having an idea of which career will be right for you, especially now in Grade 12. A new feature that I will be posting every now and then is the Fashion Career Profiles, which will give some information on possible careers I will be interested in. Since I am someone headed towards a business career in the fashion industry, I  thought this would be the best way to gather research and share it on my blog. The first career I decided to look into was being a Market Analyst. This job can be for any business which would be a good thing for me, because I would get a career in the fashion industry. If all of this isn't enough for you, check out this link here and read more about becoming a market analyst.

What is a Market Analyst?

A market analyst is responsible for providing information and insight regarding different customers and consumers, and competitors to make sure that the business is making good and effective decisions

Responsibilites:

Responsibilities include providing thorough ROI analyses of the marketing campaigns and sales; designing research projects that make sure the business’ questions are answered; conduct market research to analyze the market and understand more about the customers’ needs; develop focus groups and surveys; perform an annual customer satisfaction survey; complete competitive analysis to maintain the company’s competitive advantages; monitor and track competitors’ ads and websites.

Skills Required

Skill requirements include a university or college degree in business, marketing, or a related field; minimum of 2 years’ experience in marketing or a market research; strong knowledge of marketing, sales and business processes; strong management, business writing and reporting skills, ability to have a strong relationship and work with senior level executives; exceptional written and verbal communication skills; good business  acumen, management, analytical, and problem solving skills; strong computer skills; effective time management, organizational, and leadership skills.

Compensation and Advancement

The average salaray for a market analyst is about $60,000 but can reach well over $100,000.There are many advancements for this job, there will always be a need of market analysts because business will always want to see how they are doing in the market and how their competitors are doing, so that they can adjust their marketing techniques and do better as a company.

 

Education

 

There many universtieis that offer business programs for this job, and most Ontarion universities offer a business program.

University of Toronto – Mississauga Campus, 3359 Mississauga Road N., Mississauga, ON L5L 1C6  Management, Bachelor of Arts and Bachelor of Business Administration Prerequisites include mid 80 average from top 6 university or M level courses, ENG4U and one 4U math. Program is 4 years long and allows students to get a hands on and in class experience about the business world, building skills in all areas of business including finance, marketing, human resources, and accounting.