The Pricing Analyst is an individual contributor responsible for modeling customer pricing agreements for sales, identifying opportunities for margin improvement, and providing guidance for pricing deviations. The Pricing Analyst collects and analyzes data relating to current and predicted market conditions, company objectives, and competitive pricing in order to recommend pricing strategies and standardized pricing guidelines. This position creates and maintains pricing segmentation models, automated tools and techniques for quicker decision-making, and processes for identifying, determining root causes of, and cleansing transactional data errors. This position is critical in identifying and implementing margin and pricing improvements.
Essential Job Duties and Responsibilities: • Analyze information regarding product usage, pricing methodologies, market conditions, customer segmentation, and competition to identify trends, opportunities, and action plans to improve margin and pricing performance. • Assist sales with balancing customer needs, business objectives, and expected product demand to maximize revenue, market share, and profit margin. • Support the sales team with necessary data to determine appropriate discounting strategies during the RFQ process to drive profitable sales revenue. • Obtain market data, competitive information, and the business strategy to develop and implement appropriate pricing strategies and techniques. • Create pricing segmentations derived from customer and product attributes, which help determine pricing guidelines for regional sales reps and customer service reps. • Work with Price Administrators to identify root causes of errors within transactional data. Work with IT to maintain error tables to ensure consistent application of necessary changes. • Assist in commercial, product, and service pricing planning (e.g., low price or high quality) and value proposition to achieve targeted market position. • Develop, automate, and train people on the use of reports, dashboards, and pricing techniques.
Participate in projects related to strategic pricing initiatives.
• Perform other duties and special projects as assigned.
Job Qualifications:
Bachelor's degree in a related field (e.g., Business, Finance, Engineering, etc.) or 3+ years of relevant experience. Relevant experience should include:
Creative problem solver with a high level of business acumen and a tendency toward data-driven decision making.
Strong communication and influencing skills with an ability to explain complex analysis to people at various levels and functions within the organization.
Demonstrated ability to analyze, research, and identify data trends from which decisions can be made.
Results oriented self-starter with the ability to work independently with little supervision, and who possesses strong planning, organizational, and execution skills.
Diagnostic tenacity to identify problems, determine root causes, and offer balanced, actionable solutions.
Expert knowledge of Microsoft Office, Outlook, PowerPoint, Excel, and Word.
Experience creating dashboards and visualizations using Power BI is preferable.
Experience writing SQL queries to extract data sets necessary for analysis is preferable.
Work Environment:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The noise level in the work environment is usually moderate.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit; use hands to touch or feel; reach with hands and arms and talk and hear.
The employee is occasionally required to stand and walk.
Specific vision abilities required by this job include close vision, distance vision, depth perception and ability to adjust focus.