What Does Product Analyst Means?


Product Analyst:

The work of a product analyst plays an integral role in the beginning, middle and final stages of a product’s development and life cycle. The main responsibility of a product analyst is to perform extensive research surrounding the product’s market and present its findings to the management of the company which they represent. 

There are four different tasks that a product analyst does: define strategies, identify target markets, analyze results, and manage product life cycles.

Product Analyst Job Duties:

  • Monitor Product Life Cycle

  • Identify the target market for soon to be developed product or service

  • Provide the company with detailed and verifiable product and market assessments

  • Collect and analyze data regarding potential target markets, such as consumer age range, gender, socio-economic levels, and geographic location

  • Analyze the market results of the product, which may involve interviewing and collecting data from end-users

  • Constantly monitor market results and communicate findings to management so they can take action to avoid the loss

  • Monitor product through introductory, growth, mature and decline stages in order to anticipate market factors which would create a loss of profitability

  • Expanding products market.

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