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

  • Make price recommendations

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

  • 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.

  • Maintain pricing database

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

  • 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.

  • Set up pricing strategies

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

  • Manage profitability

    Regularly review sales and profit performance.

  • Ensure compliance with purchasing and contracting regulations

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

  • Identify pricing opportunities

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

  • 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 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.

  • 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.

  • Perform financial analysis on price strategies

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

  • Present reports

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

  • Comprehend financial business terminology

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

Optional knowledge and skills

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