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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- 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.
Pricing analyst - Career Profile
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- Make price recommendations
Make price recommendations based on factors such as standard costs, promotions, freight, margin expectations, and customer relationships.
- 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.
- 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.
- Comprehend financial business terminology
Grasp the meaning of basic financial concepts and terms used in businesses and financial institutions or organisations.
- 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.
- Maintain financial records
Keep track of and finalise all formal documents representing the financial transactions of a business or project.
- 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.
- 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 financial analysis on price strategies
Make up a thorough financial analysis for a business; monitor pricing actions and strategies.
- Ensure compliance with purchasing and contracting regulations
Implement and monitor company activities in compliance with legal contracting and purchasing legislations.
- Manage profitability
Review on a regular basis sales and profit performance.
- Present reports
Display results, statistics and conclusions to an audience in a transparent and straightforward way.
- Identify pricing opportunities
Adapt prices to maximize revenue, including price-marked packs, for brand performance and business development.
Optional knowledge and skillsmanage contracts product comprehension have computer literacy communication principles teamwork principles value-added tax law anti-dumping law competition law build business relationships international taxation of transfer prices
Source: Sisyphus ODB