The Pricing analyst and in store Promotions Manager is responsible for analyzing competitor pricing matched with market expectations to determine the ideal target price for products of the business. Duties include providing thorough analytical breakdowns of pricing structures and sales funnels of similar competitor products and services and identifying specific strategies used in pricing models of the same. Reports are written to evaluate the findings and to propose the results to the relevant departments for effect.
NO. KEY RESPONSIBILITIES AND ACCOUNTABILITIES
1 Review and benchmark current prices.
2 Recommend and implement price increases/decreases across the board were possible.
3 Lower prices were possible to build a low-price perception.
4 Identify products that can be used for reduced pricing and or promotions.
5 Study section by section to find potential price increase and build a good perception of price in our store by selecting the attraction price point products and be aggressive in them.
6 Identify and work out innovative promotions that will help increase sales finally, reduce excessive stock, be aligned to market trends and client’s needs.
7 Prompt sales staff on any wrong ticketing.
8 Understand what clients are thinking on the store’s promotions and prices.
9 Analyse any change in figure and rectify if there is the need.
10 Share presentation to the direct manager on the effect of change in price or promotion.
11 Identify what products are to be placed in the front area and advise the Visual Merchandiser or Replenishment leader to implement,
13 Be on the ball and react to market change, climate change or anything that is changing the client’s needs with immediate effect.
PHYSICAL REQUIREMENTS / WORKING CONDITIONS
Work 40 hours a week.
Working during evenings, weekends and public holidays may also be required during festive season and sales period.
Duties require one to spend time both in the shop and in an office.
EDUCATION & LICENSES REQUIRED
Previous experience in the retail sector is a requirement.
On-the-job training is usually offered by the employer.
KNOWLEDGE / SKILLS / QUALITIES / TOOLS & EQUIPMENT USED IN THIS POSITION
The Price and in store Promotions Manager is expected to have:
• Commercial awareness and business skills
• An understanding of store sales, wholesale and retail management
• Knowledge of the products and/or services being promoted
• Knowledge of competitors’ activities and pricing strategies
• The ability to conduct market research
• An understanding of business accounting and finance
• An understanding of supply chain function
• The ability to behave in line with the organisation’s brand standards
• Personnel management skills
• The ability to persuade, influence, negotiate and network successfully
• The ability to build long-lasting business relationships
• Interpersonal skills • Strong communication skills in Maltese and/ or English • IT skills
• Customer care skills • Organisational and planning skills • Time management skills and the ability to cope with the pressure of demanding targets and tight deadlines • Analytical, problem solving and decision making skills • Leadership skills and the ability to motivate and coach team members • The ability to work independently and as part of a team
• A goal-oriented approach • A high level of drive and ambition • A proactive attitude
• Accountability • An entrepreneurial mindset • Business acumen • Charisma • Confidence
and evaluation of new employees • Liaise, cooperate and maintain positive relationships with other entities operating within the same or related areas • Efficiency • Enthusiasm • Flexibility • Persistence • The ability to be innovative