IDEAL INDUSTRIES, INC. has been propelled by the principles of its founder, J. Walter Becker, for over a century. Since the beginning, this family-run enterprise has been committed to building ideal relationships with its customers, employees and communities, creating some of the industry’s most innovative and trusted products along the way. This commitment to quality and service will continue to spur the success of IDEAL INDUSTRIES, INC. and its family of companies, for generations to come.
The Strategic Pricing Manager drives the development and execution of the businesses go-to-market pricing and discount strategies. The successful candidate must create and deliver a pricing strategy that is informed by the market and aligns with IDEAL OmniChannel Strategic Initiatives and business goals. This position would be responsible for working with all IDEAL Electrical Product Segments and Sales Channels to provide pricing and strategic insights to transform our pricing models and E-commerce expansion. The role will work cross functionally with Finance, Marketing, Manufacturing and Pricing teams to find efficiencies, identify risks and opportunities, and provide predictive analysis and recommendations to objectively guide and influence price strategy.
- Lead and direct pricing strategy formulation and take necessary pricing actions to enhance profitability, ensuring integrity and accuracy in all pricing matters.
- Define new business procedures, evaluate resource requirements and stimulate implementation or maintenance of pricing system.
- Perform financial evaluation to assess pricing action effectiveness and anticipated pricing actions for various scenarios.
- Conducting the analysis and provide relevant insight for the business to drive changes and enhancements for the MAP strategy by identifying, evaluating and moving the business forward based upon market trends and opportunities
- Manage total pricing procedure, enhance processes to make most of efficiencies and ensure timely response to market conditions.
- Identify optimal prices by product based on the best possible return in sales/margin while adhering to MAP and channel equity challenges.
- Collaboration with buyers, product managers and sales leadership to ensure integrated profit maximizing approach to market while supporting Omnichannel Initiative.
- Recommendations, evaluation, and modification of existing pricing practices.
- Conduct field research and cost revisions to understand the going rates for similar products in the industry, in order to remain competitive.
- Analyze financial impact of price approach in view of product history and profitability of customer and company.
- Assist with pricing negotiations and evaluation of customers’ proposals.
- Natural inquisitiveness to exploring the data, mining the data, and looking for insights to drive business decisions.
- Builds a culture of continuous improvement by proactively developing processes tools and other means to continuously influence and deliver the most relevant pricing strategy.
- 4-8 years of experience in Industry or related field.
- Proven experience in developing and executing pricing strategies with large SKU assortments.
- Strong business acumen that informs and grounds the leaders thinking in strategy development.
- Excellent communication skills. Ability to determine the appropriate amount of detail gained in research in order to present findings in a thoughtful and concise manner.
- Ability to communicate and collaborate, with impact, to a variety of audiences with varying degrees of domain expertise.
- Use strong communication skills to present findings and build support for pricing initiatives.
- Strong decision making and problem-solving skills.
- Bachelor’s Degree required; MA/MS/MBA preferred.