Pricing Analyst Job Description

Introduction:

The pricing analyst oversees the pricing structure of products and services and analyses the competitors’ price match with market expectations to determine the ideal target price for products. The job duties of a pricing analyst include performing competitor analysis on similar products and services, search for opportunities based on market trend and industry condition, identify ideal pricing structures and sales funnels, draft strategic pricing plans and process to improve existing projects, create report reflecting metrics and project status objectives and barriers, communicate with the relevant department of the company, work with sales and marketing team to define pricing structure for company products, and address issues and doubt raised by the team members regarding pricing suggestions.

Pricing Analyst Job Titles:

  • Pricing Analyst (Part-Time)
  • Pricing Analyst
  • Revenue and Pricing Analyst
  • Pricing Data Analyst

Pricing Analyst Job Summary:

We are looking to hire a successful candidate who has a degree in accounting, finance, or related field. The pricing analyst will provide data and market-driven analytics to help the business unit achieve its pricing and business objectives. The role will partner with senior pricing and product staff members to identify areas of price opportunity, provide data, and market-driven analytics to inform price decisions and help develop pricing improvement recommendations. The position will also lead to initiatives to build analytical and reporting tools to foster data-driven decision making and tracking of pricing key performance indicators. Their duties include developing and supporting complex models, analysis and reporting related to pricing, the profitability of proposed pricing action, support project to develop pricing and packaging strategy for new and existing products partnering with product management, and product marketing.

Pricing Analyst Responsibilities and Duties:

  • Develop a financial model to support price proposals and management decision making
  • Review and analyze market trend to develop the model and provide insight into the impact of price changes on growth rate and profitability
  • Lead large pricing proposals, compile element to be used in the development of cost proposals
  • Participate in the development of pricing strategy responding to various type of competition
  • Identify risk, trend, and deviation requirement to help ensure overall compliances
  • Work on a complex project where analysis of situation or data requires an in-depth evaluation of multiple factors
  • Maintain cost proposal related records and database
  • Interface with management and other function including business development, proposal, operations, contract and finance

Pricing Analyst Skills and Qualification:

  • Bachelor degree in business technology
  • Must possess a minimum of 3 years of experience in analytical roles, 2 years in finance data analytics or business analysis
  • Expert creating managing complex data sets and analytical tool
  • Strong demonstrated ability to identify, gather, analyze and interpret data
  • Punctual, reliable and must have strong communication skill
  • Able to work in a team and produce quality output under tight deadlines
  • Strong verbal and oral communication skills
  • Self-motivated and strong analytical skills
  • Attention to detail, prioritization skill and time management
  • Quick learner with a positive attitude
  • Maintain a strong relationship with key groups
  • Motivational and communication skill

Pricing Analyst Salary

Pricing analysts are responsible for researching and analyzing pricing data to help companies make informed decisions about their products and services. They typically work in the marketing or sales department of a company and report to the head of pricing. Pricing analysts typically have a bachelor’s degree in business, marketing, economics, or a related field. The median salary for a pricing analyst is $60,000 per year.

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