If you are a market analyst or trend watcher you can improve your business acumen by monitoring your niche with News Anchor for Mac OS X. You can use the RSS feeds of the blogs in your fields to keep up to date with the happenings in your industry and use News Anchor to read them to you.
There are many responsibilities and job duties that you have to do if you are a market analyst or trend watcher. This profession is relevant in ascertaining the trends at which commodities are moving or being sold at the markets. The main goal of this field is to determine changing elements impact on how products and services available for sale are received by the consumer.
A professional market analyst collects and analyzes data in order to evaluate the existing and potential upcoming products and services in the markets. They are responsible in identifying and monitoring competition of the products that are available in the markets. The profession also entails researching on the condition of the markets and the changes in the industry that may have impact on the sales.
Practicing marketing analysts will definitely find themselves engulfed deeply in research and analysis of data. Other areas that add up a full baked professional are planning, communication and leadership. Mastery in these areas makes the individual able to make judgments based on any new data or information collected. They do work within their business organization closely with the marketing management team and other personnel in order to come up with smart competitive strategies to attain set objectives.
This field then effectively involves extensive research on the factors that can cause any changes in the performance of products on sale. To succeed in this field, one needs to have vast experience in marketing research. He has to have acquainted with the research methods employed. This research is the systematic gathering and recording of data about issues relating to marketing products and services.
The research methods that can be applied are divided into two approaches. These approaches are the methodological and the target markets. The methodological approach is further subdivided into quantitative and qualitative while the other is subdivided into consumer research and business to business.
Studying consumers is one of the aspects of the research one will have to do. This is by figuring who is willing to purchase what commodity and at which price. This information can be gathered by various methods and procedures. This can include questionnaires which can be designed with questions having an extensive perspective covering everything the knowledge of an existing product brand to satisfaction from use of the commodity. The questionnaires are distributed to targeted consumer and targeted consumer areas base who respond to the questions.
Marketing analysts may perform interviews as a method to determine consumer views about certain products that are of interest to the analyst. The targeted consumers are interviewed by personnel appointed by the analyst. These can be casual workers or people working on contract. Knowing and understanding the strategies of competitors is also an important trick. This is best to know their strengths and come up with strategies to counter them.
Results obtained from the research should be analyzed by use of methods like drawing graphs and charts. The analysis is summarized by noting the key points. Reports can then be written and presented. The reports may include the recommendations which are normally aimed at improving the product performance.
Some of the skills that if you are a market analyst or a trend watcher you have to be equipped with are the ability in understanding customer wants and needs. Customer needs and wants are very dynamic in nature for they change constantly. One has to have the ability to clearly define the internal client issue that leads to the appropriate project scope and planning. The know how in assessing the market place is another skill that could of great help in cutting the edge between you and other analysts.
An accomplished professional in this field should be able to identify emerging growth trends and the opportunities across various dimensions. This may include technological, economic and financial aspects. One should be equipped with the necessary tools to be able to analyze and evaluate the performance of commodities and services.
Success to professionals in this field is measured on the timeliness, accuracy, clarity and the utility of the actionable insights and analysis that is delivered. The fruits reared from the recommendation given and the strategies employed by the management are translated directly as success. Recommendations and strategies should be implemented on time keeping in mind the dynamism of the markets.
It can there be expected that if you are a market analyst or trend watcher, you should be able to participate in the systematic and objective identification of information. You should be able to participate in information collection, analysis and dissemination of information. The main objective of this information is to help the management in ample decision making related to identification and solution of opportunities and problems in the markets.
In summary, you can use RSS to monitor the news specific to your industry and this kind of news is more relevant and actionable than the more general reports that you get from mass media such as newspaper or television. News Anchor can help you save time keeping up with these articles by reading them for you and free up your hands and eyes to do other work.