We are seeking an experienced and results-driven Strategic Pricing Manager to join our team in Garfield, NJ.
In this role, you will be responsible for developing, implementing, and optimizing pricing strategies to drive revenue growth and profitability. You will bring experience in pricing and revenue management, along with expertise in various pricing tools and methodologies. The ideal candidate has a keen analytical mindset, understands market dynamics, and can leverage data and insights to support strategic pricing decisions.
Responsibilities include but are not limited to:
- Develop and execute pricing strategies that align with business objectives, customer expectations, and market conditions to increase revenue and profit margins.
- Develop processes to effectively track pricing performance and their impact on margin and profitability levels
- Continuously conduct comprehensive market research to understand competitors, industry trends, and customer preferences, using this information to inform pricing decisions.
- Develop Business Intelligence (BI) systems and Dashboard applications to track and analyze the results of quotes and competitive pricing requests to ensure their consistency with current pricing strategies.
- Analyze pricing data and perform price sensitivity analysis to optimize price positioning for different products, services, and customer segments.
- Utilize advanced pricing tools and software to model and forecast pricing impacts on revenue, profit, and sales volume.
- Work cross-functionally with sourcing, sales, marketing, product management, and finance teams to align pricing strategies with overall business objectives and support product launches and pricing promotions.
- Identify and implement pricing improvements through data-driven recommendations and insights, continuously monitoring performance and adjusting as necessary.
- Coordinate and implement annual pricing changes and communicate the updates on a timely basis.
- Develop pricing proposals and present recommendations to senior leadership, supported by robust analysis and evidence-based rationale.
- Stay current on best practices, new pricing tools, and innovations in the industry, introducing new ideas to enhance our pricing approach and competitive positioning.
- Builds a high-performing team of direct reports.
- Develops and retains talented associates by providing ongoing support, training, and coaching to staff to enhance their skills and performance.
- Fosters a positive work environment that promotes teamwork, collaboration, and employee engagement.
Skills and Qualifications:
- Bachelor’s degree in economics, business, finance, marketing, or a related field required; a master’s degree or MBA is preferred.
- 10+ years of experience in pricing, revenue management, or a similar role, with proven success in driving revenue through pricing strategies.
- Strong understanding of various pricing tools (e.g., PROS, Vendavo, Zilliant) and the ability to evaluate and recommend tools based on business needs.
- Proficiency in data analysis and statistical tools (e.g., Excel, SQL, Python) with the ability to analyze complex datasets, identify trends, and generate actionable insights.
- Experience in market research and competitive analysis, with an ability to translate findings into effective pricing strategies.
- Excellent communication and presentation skills, capable of clearly conveying complex pricing concepts to non-technical stakeholders.
- Detail-oriented and highly analytical, with a strategic mindset and strong business acumen.
- Ability to work independently and as part of a team, with excellent organizational and project management skills.