What Does a Deal Strategist Do?
Deal strategists assume the responsibility for an organization's development and realization of business growth and profitability. They conduct intensive research on competitor product pricing and marketing strategies. Deal strategists conduct what is known in the business world as Black Hat assessments. Essentially, a Black Hat assessment focuses on the competition's strong qualities as well as it's vulnerabilities and uses that intelligence to effectively leverage it to the strategist's own organization. Research and analysis also involve maximizing an organization's Price to Win initiative, which defines an organization's market position and where it needs to be in a given market to achieve success versus competitors. Strategists analyze industry sales and marketing trends and identify markets for emergent technologies germane to their organization's business strategy for success.
The job of the deal strategist does not end with research and analysis, however. They design market strategies and oversee their implementation to maximize market position and profitability for the organization. Deal strategists establish goals based upon the organization's overall business strategy. Strategies for product pricing are also designed by deal strategists, and deal strategists anticipate competitor pricing strategies that may pose a threat to their organization's market share for a given product or service. Strategists involve themselves in forecasting market trends with an eye toward identifying new areas of profit in new technologies, services, and products. Deal strategists are directly involved in what happens after the sale by measuring customer satisfaction as well as studying ways to improve satisfaction and further strengthening of the organization's market position.
|Educational Requirements||Bachelor's degree|
|Job Skills||Expert knowledge of market trends, strong analytical skills, excellent strategic thinking skills, excellent management skills|
|Median Salary (2018)*||$63,120 (market research analysts)|
|Job Outlook (2016-2026)*||23% (market research analysts)|
Source: *U.S. Bureau of Labor Statistics
A bachelor's degree is required for a career as a deal strategist. Some employers prefer the bachelor's degree to be in a business-related field. Prior practical work experience in marketing strategy and proven experience with marketing campaigns is usually preferred.
Deal strategists require expert knowledge in marketing campaigns and trends because they assume responsibility for researching and identifying new opportunities for their organization to grow. Expertise in market trends enables the strategist to anticipate changes in the market, thereby maximizing the organization's market share and position. Strong analytic skills are required for the successful deal strategist because they conduct Black Hat assessments of the organization's competitors to identify strengths and weaknesses. Strategic thinking is needed because deal strategists strengthen the organization's Price to Win initiative to minimize investment risk and improve market position. Deal strategists require superb management skills because they are involved in a number of strategies that are crucial to the entire life cycle of business development, including research, customer satisfaction, and analysis of after the sale results.
Career Outlook and Salary
The U.S. Bureau of Labor Statistics (BLS) forecasts growth of 23% for market research analysts between 2016 and 2026. The BLS reports that this growth is much faster than average compared to all other occupations. In 2018, the BLS reported that the annual median salary for market research analysts was $63,120.
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