Product analyst Interview Questions

An effective product analyst must have writing and research skills to study the market and prepare lucid reports. They should be able to synthesise data and think critically about the product. Product analysts also need excellent communication skills to convey product information and insights to the rest of their team.

This role perfectly matches to my strengths, skills, and career objectives. Having studied the field for years and garnered work experience, I can leverage my analytical skills to excel as a product analyst so that I can go on to work as a product manager in the long run.

A professional is as good as their routine. As a product analyst, I begin my day by scanning emails for reports regarding bugs with products that may have turned up overnight. Then, I answer my emails and keep myself updated with the latest product and technology news by reading different newsletters. Then, according to the project needs, I meet up with one of the lead product managers of the team.

 Having used some of your products, I can confidently say that your herbal soaps are quite effective. However, we need to improve their branding and emphasise their organic nature to appeal to those who use organic products exclusively.

 While your company enjoys a sizeable chunk of the herbal products market, Wavewood Organics has rapidly expanded its customer base because of an aggressive, inclusive, and engaging marketing strategy. 

I always try to set the criteria for success before a launch takes place, choosing metrics that consider product category, buying process, and, more importantly, our company’s goals. These goals can be anything from raising brand awareness to outperforming competitors and growing our market share. The entire product development team should dynamically track KPIs according to different situations. My role as a product analyst is to collect relevant data, analyse it, and provide detailed, actionable insights that can help our company improve their next product launch.

Once, I worked on a project where the scope of my role was undefined. I embraced this challenge and relied on a flexible approach, letting client meetings and their feedback guide my work. During my first client meeting, I understood that I was to ensure a successful launch of their latest product. After analysing similar products of their competitors and studying their marketing campaigns, I was able to work with my team to help launch their product successfully.

While working with Wavewood Organics, I attempted a sales volume forecast for their herbal toothpaste using the budget expense method and consulted different company managers to learn about their expectations. However, the real sales volume was 25% lower than the forecast. I realised that the managers had been over-optimistic in their estimates. So, next time, I applied a more data-centric approach, relying more on historical data and available data about competitors’ sales. I also conducted direct market research and questioned our target audience using surveys. This refined and streamlined approach helped me to provide an accurate forecast, with the sales volume almost as forecasted.

Upon joining, I would analyse the company’s sales numbers and other high-level KPIs like user and lead generation growth. This will help me to identify the products that bring in the most revenue so that the company can channel their efforts into creating such products more.

While most Wavewood Organics products perform well in the market, your herbal facewash can exponentially increase sales by targeting the demographic that exclusively uses vegan and cruelty-free products.