Retail Pricing Analyst estimates merchandise overhead and develops ways to reduce costs. Analyzes historical cost data in order to provide more accurate cost estimates. Being a Retail Pricing Analyst communicates pricing information to associates. May require a bachelor's degree in area of specialty. Additionally, Retail Pricing Analyst typically reports to a supervisor or manager. To be a Retail Pricing Analyst typically requires 2 to 4 years of related experience. Gains exposure to some of the complex tasks within the job function. Occasionally directed in several aspects of the work. (Copyright 2024 Salary.com)
Job Summary
Establish market prices for products that allows the Company to profit while also staying competitive. Work closely with the sales, marketing, finance, and program managers teams to determine how to price company proposals effectively. The job is to evaluate product quality, competitor pricing and customer reviews to create appropriate market prices for proposal requirements or services.
Responsibilities:
Pricing analyst is responsible for analyzing competitor pricing matched with market expectations to determine the ideal target price for products of the business. Duties include providing thorough analytical breakdowns of pricing structures and sales funnels of similar competitor products and services and identifying specific strategies used in pricing models of the same. Reports are written in order to evaluate the findings and to propose the results to the relevant departments for effect.
Duties:
Required Experience:
Education: A bachelor's degree in accounting, market research, business administration or finance degree preferred and 5-15 years working in this capacity
Experience working as a pricing analyst in the same industry.
Strong knowledge about the industry including competitors and market trends.
Strong analytical and research skills.
Excellent verbal and written communication skills.
Good negotiations and problem-solving skills.
Effective reporting and presentation skills.
Strong analytical skills and ability to use Microsoft excel are necessary to compare sales trends and determine market data.
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From: Sigmatech, Inc.