Description:
The Pricing Analyst is responsible for developing, implementing, and managing pricing strategies to maximize profitability and market share. This role involves analysing market trends, competitive pricing, and customer behaviour to recommend optimal pricing structures. The Pricing Analyst works closely with sales, marketing, finance, and product development teams to ensure pricing aligns with business objectives and market conditions. The ideal candidate has strong analytical skills, a deep understanding of pricing strategies, and proficiency in data analysis tools.
This role will:
- Contribute to improved profitability and revenue growth
- Position Team Internet Group brands competitively against other competing brands
Key outcomes of the role
Pricing Strategy Development (5%)
- Develop and implement pricing strategies for products and services to optimize profitability.
- Conduct pricing analysis for new product launches, promotional activities, and product lifecycle management.
- Collaborate with product management and sales teams to align pricing strategies with product positioning and market demand.
Market & Competitive Analysis (20%)
- Monitor and analyse market trends, competitor pricing, and industry benchmarks.
- Identify opportunities for price adjustments based on market conditions, competitor actions, and cost fluctuations.
- Perform pricing elasticity analysis to determine the impact of price changes on sales volume and revenue.
Data Analysis & Reporting (25%)
- Analyse historical sales data, cost structures, and customer behaviour to inform pricing decisions.
- Utilise statistical and data analysis tools (e.g., Excel, SQL, R, Python) to model pricing scenarios and forecast financial outcomes.
- Develop pricing models and dashboards to track pricing performance and key metrics.
Pricing Implementation (20%)
- Work with sales and marketing teams to ensure pricing strategies are effectively implemented and communicated.
- Maintain and update pricing databases, ensuring accuracy and consistency across all channels.
- Monitor the impact of pricing decisions and adjust strategies as necessary to meet business objectives.
Financial Analysis (15%)
- Conduct margin analysis to ensure pricing supports the company’s profitability goals.
- Collaborate with finance teams to assess the financial implications of pricing strategies.
- Provide input on pricing-related financial forecasts, budgets, and business plans.
Customer & Sales Support (10%)
- Provide pricing support and guidance to the sales team, including pricing proposals, discount strategies, and deal structuring.
- Analyse customer pricing agreements and contracts to ensure compliance with pricing policies.
- Respond to pricing-related inquiries from customers and internal stakeholders.
Continuous Improvement (5%):
- Continuously assess and refine pricing strategies based on feedback, market changes, and business performance.
- Stay informed on best practices and emerging trends in pricing analysis and strategy.
- Identify opportunities to automate and streamline pricing processes for efficiency.
About You
- Bachelor’s degree or equivalent experience in Finance, Economics, Business, Mathematics, data analytics or a related field.
- Solid understanding of pricing analysis, financial analysis, or a similar analytical role.
- Extensive experience with pricing strategies, financial modelling, and market analysis.
- Some knowledge and experience with data analysis and business intelligence tools (e.g., SQL, Tableau, Excel).