Pricing Analyst

Roles and responsibilities

Assist in constructing variable cost models across all service offerings.
Participate in building pricing models to enable Sales to sell within defined pricing slabs.
Support in developing sophisticated pricing tools to enable pricing customization for strategic accounts or enterprise level customers.
Assist in developing a market forecasting for budget and operational annual plans.
Collaborate with Finance on cost models especially Activity-based costing (ABC).
Price Strategy Development
Pricing Model Development: Develop and implement pricing models and strategies for the company’s products or services to ensure profitability and competitiveness.
Market Research: Conduct market research to gather information on competitors' pricing strategies, market conditions, and industry trends to inform pricing decisions.
Dynamic Pricing: Analyze and adjust pricing strategies based on changes in market demand, competition, and economic factors, adopting dynamic pricing models where necessary.
Financial Analysis and Forecasting
Cost Analysis: Analyze production, distribution, and overhead costs to determine the minimum pricing required to achieve desired profit margins.
Profitability Analysis: Calculate profit margins for different pricing scenarios to determine the most profitable pricing strategies for each product or service.
Sales and Revenue Forecasting: Use historical data and predictive models to forecast sales, revenue, and market share based on different pricing strategies.
. Data Collection and Analysis
Customer Segmentation: Analyze customer data to identify various segments and tailor pricing strategies to different customer groups based on their purchasing behavior and price sensitivity.
Competitor Pricing: Continuously monitor competitor pricing to identify opportunities and potential threats in the market.
Price Sensitivity Analysis: Conduct analysis on how sensitive customers are to changes in pricing to understand the potential impact on sales volume and profitability.
Pricing Optimization
Price Testing: Conduct A/B testing and other pricing experiments to determine the most effective price points and strategies.
Price Adjustments: Recommend price adjustments based on performance data, market changes, and customer feedback to ensure the company maintains a competitive edge and profitability.
Discount and Promotion Strategy: Develop discounting strategies and promotional pricing plans to drive sales while maintaining margins.

Desired candidate profile

Market Research and Consumer Insight
Product Launch Management
Product / Service Marketing Concepts
Business Analysis
Collaboration and Communication
Cross-Department Collaboration: Work closely with sales, marketing, finance, and product development teams to align pricing strategies with overall business objectives and product offerings.
Stakeholder Reporting: Present pricing recommendations, pricing models, and performance analysis to senior management and stakeholders to support decision-making.
Training and Guidance: Provide training to sales teams and other departments on pricing strategies, policies, and how to communicate price changes effectively to customers.
. Pricing Policy and Compliance
Pricing Guidelines: Establish and enforce pricing policies and procedures to ensure consistent and compliant pricing practices across the organization.
Regulatory Compliance: Ensure that pricing strategies comply with all relevant laws, regulations, and industry standards, including anti-price-fixing and fair competition practices.
Price Integrity: Monitor and maintain the integrity of pricing structures across all sales channels and ensure prices are correctly displayed and adhered to.
Reporting and Performance Tracking
KPI Monitoring: Track and report key performance indicators (KPIs) related to pricing, such as sales growth, margin improvement, and customer acquisition costs.
Pricing Impact Reporting: Provide regular reports on the impact of pricing decisions on revenue, market share, customer retention, and competitive positioning.
Profit Margin Tracking: Regularly review profit margins to ensure pricing strategies are achieving the desired financial outcomes.