Pricing Specialist

Job Purpose

The Pricing Specialist is responsible for supporting the development and implementation of pricing strategies that maximize the company's profitability and market competitiveness.

This role involves analyzing market trends, gathering data, maintaining pricing models and tools, and working closely with cross-functional teams to ensure pricing accuracy and effectiveness.

Key Job Responsibilities

1. Pricing Strategy Support:
   • Assist in developing and implementing pricing strategies that align with the company’s financial and business goals
   • Gather and analyze data to support pricing decisions and strategy formulation
   • Assist in developing and managing List price tools for current and upcoming products which optimize the best price positioning in market and reflects the value and positioning of our brand and products
   • Update tools to manage price conditions (discounts, rebates) and work in close collaboration with sales teams and regional pricing teams to support price offers to customers
   • Assist in designing and regular updates of price variance (DnR) reporting
   • Assist in managing price-cost variances to ensure current and future profitability

2. Market and Competitive Analysis:
   • Conduct market research to identify pricing opportunities and threats
   • Monitor competitor pricing strategies and market trends to ensure the company remains competitive

3. Data Analysis and Reporting:
   • Analyze pricing data and financial metrics to assess the impact of pricing decisions
   • Prepare and present pricing reports and recommendations to management

4. Collaboration with Cross-Functional Teams:
   • Work closely with sales, marketing, finance, and product development teams to ensure pricing strategies align with overall business objectives
   • Provide pricing support and guidance to sales teams during negotiations and bid processes

5. Pricing Process Management:
   • Maintain and update pricing models, tools, and databases
   • Ensure adherence to pricing policies and procedures across the organization, providing training to the internal stakeholders

6. Profitability and Revenue Analysis:
   • Evaluate the profitability of products and services and make recommendations for price adjustments
   • Assist in implementing strategies to optimize revenue and profit margins

7. Customer and Channel Pricing:
   • Support the implementation of tailored pricing strategies for different customer segments and sales channels
   • Assist in managing discount structures, promotions, and special pricing arrangements

8. Policy and Compliance:
   • Ensure pricing strategies comply with legal and regulatory requirements
   • Maintain documentation of pricing decisions and policies for audit purposes

9. Continuous Improvement:
   • Continuously evaluate and improve pricing processes and strategies
   • Stay updated with industry best practices and pricing innovations

Additional Responsibilities

May be discussed with the Line Manager to support Individual Development Goals.

Key Competencies Required for the Role

Sales Competencies

Proficiency

Commercial Operations

Proficiency

Selling & Negotiating

Knowledge

Commercial & Economic Acumen

Skill

Channel Management

Knowledge

Value Chain Understanding

Mastery

Key Account Management

Knowledge

Managing Customer Experience

Knowledge

Applying Value Proposition

Knowledge

Pricing & Exposure Management

Skill

Value Added Selling

Knowledge

Project Delivery

Knowledge

Contract Management

Knowledge

Applying Technical Capability

Knowledge

Generating Insights

Mastery

Leadership Attributes

Proficiency

Lead

Knowledge

Empower

Knowledge

Advance Results

Skill

Develop Connections

Skill

Education and Experience

Bachelor’s degree in Business, Engineering, Marketing, Economics, acturial science, or Finance.

Minimum 1-4 years of proven work experience as Pricing coordinator/analyst, market intelligence, Sales, Finance,  preferably within the tyre manufacturing industry or related sectors.