Job Summary:
Develops, evaluates and implements pricing strategies and models based upon current business and competitive market dynamics.
Conducts research and performs competitive pricing analysis.
Monitors ongoing competitive environment to ensure practices do not adversely impact company reputation or customer satisfaction.
Principal Responsibilities:
- Partners with sales/marketing, business development and finance to correctly position product portfolio and establish pricing programs aligned with product/sales strategy and revenue recognition requirements.
- Analyzes prices in the external marketplace, such as competitor pricing, seasonal changes in pricing, discounting, customer's willingness to pay, and overall consumer spending patterns.
- Verify pricing and clear price related blocks in the Enterprise Resource Planning (ERP) before generating delivery orders.
Including providing suppliers with point of sale information.
- Analyzes internal pricing models that consider product costs such as labor, materials, distribution, and contracts to evaluate prices against actual expenses and budgets.
- Evaluates opportunities to monetize products offered initially at little to no cost (such as online products), or to create upsell opportunities as products are repositioned in the marketplace.
- Projects impact of pricing changes, individual promotions and rebate programs on revenue.
- Creates/administers pricing databases and coordinates implementation of pricing and delivery proposals across the organization.
- May also update pricing databases track current and historical pricing of the company's products and of its competitors.
- Performs analysis and reports results of various program impact for identified customer(s) notifying the account manager of success, issues and future growth plan strategies.
- Maintains and drives trending knowledge of products, competitors, technology and customers in the assigned supplier product market.
- Other duties as assigned.
Job Level Specifications:
- Thorough knowledge of principles, theories and concepts in area of discipline.
Competent in all job functions and has general understanding of the industry practices, techniques and standards.
- Develops solutions for a variety of situations and works on projects requiring evaluation and analysis.
May refer to policies, practices and precedents for guidance; determines best course of action to achieve results.
- Work is performed independently and requires the exercise of judgment and discretion.
May receive some limited guidance for new assignments.
Work may be reviewed for overall adequacy.
- Collaborates with management and team members within the department/function and other areas of the organization.
May represent department internally or externally.
- Actions may impact the success of the overall department and/or the organization.
Failure to accomplish work or erroneous decisions may result in delays to projects, loss of revenue or allocation of additional resources to remedy.
Work Experience:
- Typically 3+ years with bachelor's or equivalent.
Education and Certification(s):
- Bachelor's degree or equivalent experience from which comparable knowledge and job skills can be obtained.
LI-AMER
The above statements are intended to describe the general nature and level of work being performed.
They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills.