JOB FILLED - Strategic Pricing Manager

POSITION SUMMARY:
As a Strategic Pricing Manager, you will play a crucial role in optimizing the company's revenue streams by developing and implementing effective pricing strategies. You will be responsible for conducting market research, analyzing competitive landscapes, and identifying pricing opportunities to ensure the organization remains competitive and maximizes profitability. This position requires a results driven individual with a passion for developing and optimizing pricing strategies.

ESSENTIAL FUNCTIONS AND BASIC DUTIES:

Pricing Optimization

• Maintains responsibility for the management of all pricing activities for private label and contract dietary supplements.
• Monitors profitability and performance of existing products.
• Independently manages pricing projects from start to finish.
• Manages and responds to all requests for information (RFI) and requests for pricing (RFP).
• Researches, compiles, analyzes and compares competitor data and pricing to that of existing and proposed product lines.
• Forecasts sales volumes and profits by product, account, and territory based on lead tracking, growth or decline of products and reports on findings.
• Identifies positive financial outcomes to drive revenue and increase profitability.
• Assists with setting and rationalizing product standard costs.
• Coordinates with Purchasing and Product Development to evaluate raw material costs.
• Assists in establishing costs for new products and contract quotes utilizing the internal cost quoting system.
• Interacts with multiple departments, including Accounting, Purchasing, Production, and Quality, to ensure all applicable costs are accurate and included in the product cost structure.
• Analyzes production and purchasing variances to verify rational for changes in standard costs.

Competitive Pricing and Promotional Strategy

• Performs costing and market analyses to set contract pricing.
• Assesses promotional needs and evaluates demographics, pricing, distribution channels and marketing outlets to develop marketing and sales strategies for current and future products.
• Analyzes proposed promotions and forecasts impacts in order to provide recommendations regarding the approval or rejection of new promotional activities.
• Assesses effectiveness of current promotional activities, including ROI, and develops alternative strategies when promotion goals are not being met.
• Develops account specific promotional strategies.
• Communicate pricing-related issues and changes to applicable departments and customers.

Market Research

• Tracks general market conditions, pricing trends, and competitor pricing.
• Performs annual competitor price analysis and all components of annual price changes process.
• Tracks general market conditions, trends, and competitor product offerings.
• Conducts secondary research, including finding information from industry associations, journals, statisticians and marketing experts.
• Remains fully informed on market trends, research, and implements best practices.
• Analyzes sales and marketing metrics to identify cause and affect relationships and uncover root causes of changes in sales and profitability.
• Analyzes variances, identifies root causes, develops solutions to reduce variances, and reports findings to leadership.
• Develops and improves analysis to support management of KPI’s.
• Analyzes complex business situations and data to develop a range of solutions.
• Communicates directly with customers and sales representatives; encourages trusting relationships.
• Supports multiple cross functional teams in organizing various projects.

Performance Monitoring

• Develops and reports on key performance indicators to measure pricing strategies
• Provides updated information on pricing performance providing commentary and recommendations for adjustments with pricing.
• Performs other related duties as required.

Performance Measurements:

• Accuracy of Work, Decision Quality, Initiative, Results Oriented, Safety and Teamwork

QUALIFICATIONS

Education / Certifications:

• Bachelor’s degree in business, marketing, finance or related field; MBA a plus.

Experience Required:

• A preferred candidate will have 10+ years of experience in dietary supplements, or the natural products industry. Other similar industry experience will be considered such as manufacturing in a cGMP environment.
• Including 5+ years of experience in pricing, costing, and promotion methods and analysis, preferably with a manufacturing company. Certified Pricing Professional (CPP) a plus.

Skills / Abilities:

• Ability to thrive in a fast paced and dynamic environment.
• Knowledge and experience with financial analysis, data analysis techniques and marketing procedures.
• Knowledge of dietary supplement ingredients and basic manufacturing knowledge/experience.
• Experience with online survey tools and syndicated data sources.
• Excellent analytical, strategic thinking and critical thinking skills.
• Ability to interpret large amounts of data and communicate insights to leadership.
• Highly detail oriented with excellent organizational skills.
• Advanced skills in MS Office suite of tools (PowerPoint, Access, Word, and Excel), experience with Spreadsheet Server a plus.
• Able to multi-task, manage time, solve problems, and articulate findings.
• Excellent written and verbal communication skills.
• Strong project and change management skills.
• Able to build rapport and interact at every level of the organization and with external contacts.
• Able to grasp consumer behavior, market and financial trends, and generate creative ideas.
• Well-organized with a customer-oriented approach.
• Self-motivated with a drive for continuous improvement, and able to work with a great deal of independence.

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Finger Dexterity:

• Requires the use of hands for simple grasping. 

Talking:

• Especially where one must frequently convey detailed or important instructions or ideas accurately, or quickly. 

Average Hearing:

• Able to hear average conversations and receive ordinary information. 

Repetitive Motions:

• Requires bending, squatting, and reaching. 

Average Visual Abilities:

• Able to read small print and visual activity necessary to inspect, prepare documents and products. 

Physical Strength:

• Sitting for prolonged periods of up to 7 hours a day. Ability to lift up to 25 pounds occasionally.

Working Conditions:

• Standard office environment.