* Hybrid role that requires working onsite at the Sycamore, IL location 2 days per weekThe Senior Product Manager has a critical role in the success of IDEAL Electrical. This individual will initiate and lead the end user research and development of new products for their product lines and expand our understanding and position of IDEAL in the marketplace. He/She will lead a cross-functional team of Engineering, Channel, Marketing, Sales, and Operations to ensure our products provide differentiated value to our end users and solve their most pressing needs. The Senior Product Manager will be the subject matter expert and responsible for business and portfolio strategy, product lifecycle management, tracking changes in market share, team execution, and working with our Channel and Sales team to deliver on our annual and strategic plans.
Responsibilities:- Lead all product lifecycle initiatives from ideation through commercialization and discontinuation.
- Oversee market and competitor research and analyze data to inform and drive the product strategy.
- Be the subject matter expert in the competitive landscape (including the analysis and comparison of pricing, product features, performance, applications, and innovation) and develop strategies to winning differentiate IDEAL in the marketplace.
- Identify target audiences and develop value propositions for their portfolio of products which align with marketing initiatives and communications.
- Lead the development and execution of marketing plans to support their product strategy partnering with marketing ops and digital marketing teams.
- Work with and influence Sales and Channel teams to develop plans to meet annual sales objectives.
- Work with the Channel Marketing team to strategize, develop and implement IDEAL Electric pricing strategies for all channels that carry their products.
- Support Channel and Sales leaders with Product Line Reviews (PLRs), and sales / customer training opportunities as needed.
- Complete NPD stage gates on time to ensure product launches are timely and profitable.
- Work with Engineering, Supply Chain, and Operations to address roadblocks with urgency during development.
- Lead development of research plans to clearly articulate end user pain points and establish clear Marketing Requirements during NPD business cases.
- Develop go to market commercialization strategies with the Channel team to maximize new product opportunities.
- Lead Marketing Operations and Digital Marketing teams to ensure commercial launch plans are established and executed.
- Other duties as assigned by management.
Qualifications:- Bachelor's degree in a related field with a minimum of 10+ years product management experience. MBA is a plus.
- Proven track record of achieving revenue growth & profitability through marketing excellence with technical consumer durable goods.
- Experience working in a fast-paced, innovative environment with a sense of urgency for delivering new products to market.
- Experience in working for a manufacturing or product driven company.
- Knowledge and successful application of 80/20 and product line simplification.
- Travel of up to 25% as needed.
- Experience in durable goods, or within the tools/hardware industries.
- Previous experience developing short- and long-range strategic plans for both business and product
The expected salary for this position is between $124,560.00 and $167,849.00 and will be eligible for incentive pay. This range represents a good faith estimate for the position and actual compensation will be based on numerous factors including knowledge, location, skills, training and experience.
IDEAL employees enjoy a wide range of valuable benefits including:
- Medical, Dental & Vision Insurance
- Education Reimbursement
- Wellness Programs
- 401k with Company Match
- Cash Balance Pension Plan
IDEAL values rest, personal time and community involvement facilitating these through several paid time off programs including:
- Vacation
- Personal Days
- Volunteer Time
- Holidays
- Parental Leave
