Profession pricing specialist

Pricing specialists analyse production prices, market trends and competitors in order to establish the right price, taking brand and marketing concepts into consideration.

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Personality Type

  • Investigative / Enterprising
  • Artistic / Investigative

Knowledge

  • Company policies

    The set of rules that govern the activity of a company.

  • Data mining methods

    Data mining techniques used to determine and analyse the relationship between different elements of economy and marketing.

Skills

  • Maintain pricing database

    Maintain internal and external database to ensure that all pricing data are permanently accurate and up-to-date.

  • Manage profitability

    Regularly review sales and profit performance.

  • Present reports

    Display results, statistics and conclusions to an audience in a transparent and straightforward way.

  • Set up pricing strategies

    Apply methods used for setting product value taking into consideration market conditions, competitor actions, input costs, and others.

  • Identify pricing opportunities

    Adapt prices to maximize revenue, including price-marked packs, for brand performance and business development.

  • Make price recommendations

    Make price recommendations based on factors such as standard costs, promotions, freight, margin expectations, and customer relationships.

  • Carry out statistical forecasts

    Undertake a systematic statistical examination of data representing past observed behaviour of the system to be forecast, including observations of useful predictors outside the system.

  • Ensure compliance with purchasing and contracting regulations

    Implement and monitor company activities in compliance with legal contracting and purchasing legislations.

  • Comprehend financial business terminology

    Grasp the meaning of basic financial concepts and terms used in businesses and financial institutions or organisations.

  • Prepare cost-plus pricing models

    Make up cost and pricing models on a regular basis by taking into account the cost of materials and supply chain, personnel and operating costs.

  • Perform data analysis

    Collect data and statistics to test and evaluate in order to generate assertions and pattern predictions, with the aim of discovering useful information in a decision-making process.

  • Perform financial analysis on price strategies

    Make up a thorough financial analysis for a business; monitor pricing actions and strategies.

  • Perform market research

    Gather, assess and represent data about target market and customers in order to facilitate strategic development and feasibility studies. Identify market trends.

  • Maintain financial records

    Keep track of and finalise all formal documents representing the financial transactions of a business or project.

  • Perform risk analysis

    Identify and assess factors that may jeopardise the success of a project or threaten the organisation's functioning. Implement procedures to avoid or minimise their impact.

Optional knowledge and skills

anti-dumping law have computer literacy communication principles manage contracts international taxation of transfer prices build business relationships teamwork principles product comprehension value-added tax law competition law

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