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Pricing Manager - Belts & Chain

Company: The Timken Company
Location: Springfield
Posted on: July 4, 2024

Job Description:

Your Career Begins at Timken
If you're ready for a challenging career that provides you with the ability to advance personally and professionally, look to Timken. Our associates make the world more productive by improving the efficiency and reliability of the machinery that keeps industry in motion.PurposeAs the Belts & Chain Pricing Manager, you will be responsible for developing and implementing pricing strategies to optimize profitability and market competitiveness for our belts and chain product lines. This role requires an understanding of market dynamics, competitive landscape, and product positioning. You will collaborate closely with cross-functional teams including sales, marketing, and product development to drive revenue growth and margin expansion. Essential Responsibilities

  • Develop and execute pricing strategies for belts and chain products to achieve revenue and margin targets.
  • Conduct thorough market analysis to understand pricing trends, competitive landscape, and customer preferences.
  • Collaborate with sales and marketing teams to develop pricing structures that align with market demands and company objectives.
  • Monitor and analyze pricing performance metrics, including sales volume, profitability, and market share, to identify areas for improvement.
  • Work closely with product development teams to assess cost structures and recommend pricing adjustments accordingly.
  • Provide regular reports and analysis to senior management on pricing performance, market trends, and competitive positioning.
  • Stay updated on industry trends, regulatory changes, and market dynamics that may impact pricing strategies.
  • Drive cross-functional initiatives to improve pricing processes, tools, and systems to enhance overall efficiency and effectiveness. Technical/Functional Skills
    • Pricing Strategy Development: Ability to formulate pricing strategies that align with business objectives, considering factors such as market demand, competitive positioning, and product lifecycle
      • Market Analysis: Proficiency in conducting comprehensive market analysis, including pricing trends, competitor pricing strategies, customer preferences, and market segmentation.
      • Data Analysis: Strong analytical skills to interpret complex data sets, including sales data, cost structures, and profitability analysis, to identify pricing opportunities and risks.
      • Financial Acumen: Understanding of financial principles and metrics such as gross margin, net profit margin, pricing elasticity, and return on investment (ROI) to make informed pricing decisions.
      • Cross-Functional Collaboration: Effective communication and collaboration skills to work closely with sales, marketing, product development, and finance teams to align pricing strategies with overall business goals.
      • Strategic Thinking: Capacity to think strategically and anticipate market trends and competitive threats to proactively adjust pricing strategies and tactics.
      • Project Management: Strong organizational skills to manage multiple pricing projects simultaneously, prioritize tasks, and meet deadlines effectively.
      • Technology Proficiency: Familiarity with pricing analytics tools, customer relationship management (CRM) systems, and enterprise resource planning (SAP) software to conduct analysis and implement pricing strategies efficiently.
      • Continuous Improvement: Commitment to ongoing learning and improvement, staying updated on industry best practices, emerging technologies, and market trends to optimize pricing strategies and processes Basic Qualifications
        • Bachelor's degree in: Business Administration, Finance, Economics, Marketing, or a related field
        • Preferred Master's Degree
        • Preferred certification in: Pricing strategy, analytics, and implementation
        • Preferred experience in
        • Pricing Management roles within the industrial, manufacturing, or distribution sectors is highly recommended
        • Product management will be beneficial, particularly if it involved pricing strategy development, market analysis, and cross-functional collaboration with sales, marketing, and product development teams
        • Minimum of 3-5 years leadership experience All qualified applicants shall be treated equally according to their individual qualifications, abilities, experiences and other employment standards. There will be no discrimination due to gender or gender identity, race, religion, color, national origin, ancestry, age, disability, sexual orientation, veteran/military status or any other basis protected by applicable law.

Keywords: The Timken Company, Springfield , Pricing Manager - Belts & Chain, Professions , Springfield, Missouri

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