Commercial Pricing Manager

4 weeks ago

Lagos, Lagos, Nigeria The Concept Group Full time

Job Summary

  • The Commercial Pricing Manager plays a pivotal role in driving profitability and revenue growth for the company by developing and implementing effective pricing strategies.
  • They are responsible for analyzing market dynamics, assessing competitor pricing strategies, and optimizing pricing models to maximize profitability while maintaining competitiveness.
  • The role requires a strong analytical mindset, strategic thinking, and excellent communication skills to collaborate across departments and drive alignment with overall business objectives.

Scope and Impact

  • The Commercial Pricing Manager's role encompasses the strategic development, analysis, and optimization of pricing strategies within a company.
  • They are tasked with assessing market dynamics, competitor pricing strategies, and internal cost structures to set prices that maximize profitability while maintaining competitiveness.
  • Their responsibilities span across various aspects of pricing, including product pricing, discounting strategies, contract negotiations, and revenue management. Additionally, they collaborate closely with cross-functional teams such as sales, marketing, finance, and product management to ensure alignment with overall business objectives.
  • The impact of their work is significant, directly influencing the company's financial performance, market position, and customer relationships.

Duties & Responsibilities
Market Analysis:

  • Conduct thorough market research to understand customer demand, industry trends, and competitor pricing strategies.

Price Setting:

  • Develop pricing strategies across all products that align with business goals and objectives, considering factors such as costs and desired profit margins.

Price Optimization:

  • Continuously monitor pricing data and performance metrics to identify opportunities for price optimization and revenue maximization.

Competitive Analysis:

  • Analyze competitor pricing strategies and adjust pricing tactics accordingly to maintain competitiveness in the market.

Revenue Management:

  • Collaborate with sales, product and Research and Development teams to develop pricing tactics that drive sales volume and revenue growth.

Performance Monitoring:

  • Track key performance indicators KPIs such as sales volume, revenue, profit margins, and market share to assess the effectiveness of pricing strategies.

Cross-functional Collaboration:

  • Work closely with cross-functional teams to ensure alignment of pricing strategies with overall business objectives and market dynamics.

Strategy Development:

  • Develop and implement pricing strategies for new product launches, promotional campaigns, and market expansions.

Process Improvement:

  • Identify opportunities to streamline pricing processes and systems to enhance efficiency and accuracy.
  • Any other task as assigned by the Line manager

Qualifications / Requirements

  • Bachelor's Degree in Business Administration, Finance, Economics, Marketing, or a related field. A Master's degree or MBA may be preferred for some positions.
  • 3-5 years of experience in pricing analysis, revenue management, or related roles, preferably in the financial service industry.
  • Professional certifications such as Certified Pricing Professional CPP or Certified Pricing Strategy Analyst CPSA may be advantageous.
  • Experience with pricing strategy development, implementation, and optimization.
  • Demonstrated track record of success in driving revenue growth and profitability through effective pricing strategies.
  • Experience in cross-functional collaboration with sales, marketing, finance, and product management teams.
  • Familiarity with regulatory and compliance requirements related to pricing and contracts.
  • Proficiency in statistical analysis, financial modeling, and forecasting techniques to assess pricing strategies and their impact on profitability

Skills/Competencies:

  • Ability to analyze complex data sets, interpret trends, and derive actionable insights to inform pricing decisions.
  • Proficiency in statistical analysis, financial modeling, and forecasting techniques to assess pricing strategies and their impact on profitability.
  • Capacity to think strategically and develop innovative pricing strategies that align with business goals and market dynamics.
  • Excellent verbal and written communication skills to effectively convey pricing strategies, negotiate

Job Knowledge:

  • Comprehensive knowledge of various pricing strategies such as cost-plus pricing, value-based pricing, competitive pricing, and dynamic pricing. Understanding when and how to apply these strategies based on market conditions, customer segments, and product/service attributes.
  • Proficiency in conducting market research, including gathering and analyzing data on customer demand, competitor pricing, market trends, and regulatory factors. Ability to interpret market insights to inform pricing decisions and identify opportunities for growth.

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