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Product and Pricing Analyst

Client of PD Consultants

Posted on May 2, 2019

3 - 5 years Dubai - United Arab Emirates

Any Graduation. Any Nationality

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Opening 01

Job Description

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This position is responsible for executing and managing the pricing strategies aligned to by the V.P Operations, Buyers and Planners. This individual will be responsible for modeling the sales and margin impacts associated with various pricing scenarios and then presenting pricing alternatives to the Buyer. The position is accountable for pricing integrity (price accuracy) for base pricing and assisting the Buyer/Planner meet margin expectations as budgeted in the Merchandise Financial Plan (MFP).


Principal Duties & Responsibilities:
• Manage the day-to-day pricing activities within a set of merchandise categories for both pre-season planning and in-season execution. This includes, but is not limited to: generating reports, creating spreadsheets, presenting key findings to assigned Merchandising teams
• Provide fact-based guidance to the Buyers in selecting pricing strategies/rules that result in increased sales, profit, and/or market share. Manage rules and strategies (by category/by zone) within the price optimization system
• Provide guidance and expertise on store/SKU elasticity as it relates to future price changes
• Review system-generated pricing recommendations (base price) for accuracy and alignment to the category strategy—review results with buyer and collaborate on final prices
• Execute “what if” scenarios before finalizing and submitting prices to Retek
• Provide market and industry insights to competitive indexing and trends for assigned categories
• Audit all pricing sessions to ensure 100% accuracy—create reports to track pricing errors
• Research and resolve pricing issues as reported by stores and/or system-generated reports
• Manage the pricing calendar to balance workload in the stores and improve price execution
• Support the development and implementation of price tests to validate category strategies
• Work on special projects, ad hoc analysis, and initiatives related to pricing strategies
• Monitor and provide competitor prices across all price zones for designated Known Value Items (KVIs)
• Other duties as assigned


Responsibilities:
• Recommend and implement store specific pricing to maintain gross profit and competitiveness.
• Evaluation of store specific pricing and implementation of either C&S internal rules based pricing system or 3rd party partner pricing optimization solutions.
• Validation of costing and item attribute integrity.
• Evaluate existing strategies on a regular basis to ensure timeliness of category competitiveness and profit posturing, implementing changes as appropriate.
• Monitor competitive data for completeness, data accuracy/integrity and significant shifts in competitive pricing postures and recommend appropriate response.
• Analyze Independent retailer supplied private label gap to national brands. Identify gross profit opportunities as it compares to the national brand.
• Training and support of Independent retailers in the understanding and use of all strategic pricing applications and reporting.
• Communicates with stores via phone/email to address store inquiries.
• Complete special projects as assigned.


Product Development / Product Management

Desired Candidate Profile

Qualifications:
• Associates degree or relevant experience
• Three to Five (3-5) years related experience /or training or equivalent combination of education and experience
• General understanding of store operating procedures with regard to pricing procedures, practices and maintenance.
• Ability to develop, coordinate and implement pricing that is targeted, realistic and effective in meeting retailer’s gross profit objectives
• Strong communication and analytical skills
• Strong computer skills required and a working proficiency with related pricing software packages and MS Office Suite

Keywords

Product and Pricing Analyst Microsoft Office Marketing Product Pricing

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Client of PD Consultants

We are here with a focused approach and a clear vision of assisting you create a working environment that supports your ability to achieve your desired business objectives. We arrange for constant and enduring, HR services tailored to your specific requirements in a way that helps you encourage and retain your employees.
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