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Factory Motor Parts
Saint Paul, MN | Full Time
$80k-98k (estimate)
4 Days Ago
Pricing Analyst
Factory Motor Parts Saint Paul, MN
$80k-98k (estimate)
Full Time | Wholesale 4 Days Ago
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Factory Motor Parts is Hiring a Pricing Analyst Near Saint Paul, MN

The Pricing Analyst will review and analyze the company's product pricing as compared to competitors in the market place based on market price research. The position will establish, maintain, analyze price reference documentation, and make recommendations that will facilitate optimal pricing decisions to be made by Pricing, Merchandising, and Sales teams. The PRM will work directly with Category managers to update Costing based on Vendor Cost changes.

DUTIES & RESPONSIBILITIES:

  • Responsible for developing pricing options to meet competitive opportunities and regional pricing strategy.
  • Conduct market price research in order to make recommendations on pricing strategy compared to our competitors.
  • Provide pricing analysis and reporting for management.
  • Lead initiatives that will maximize gross profit for region.
  • Work with Product Management team to develop and implement product price strategies including segment strategies for the various markets and channels.
  • Download and organize baseline price information, analyze and report on inconsistencies and identify opportunities to optimize sales and profitability through price strategies.
  • Establish a system of documentation and reporting to show the impact of implemented pricing decisions to the company’s bottom line.
  • Perform margin and pricing analysis to support key business initiatives as required
  • Assist in identifying and resolving issues around pricing and margin.
  • Work with regional sales teams to manage pricing and margin opportunities.
  • Analyze current sales trends to identify specific opportunities to maximize margins
  • Maintain accurate Vendor Costing sheets to facilitate prompt system cost changes
  • Work directly with Category Managers to update system costs based on vendor cost changes
  • Perform other duties as assigned, including ad-hoc analysis on methods to optimize price through market and pricing strategies.

KNOWLEDGE, SKILLS & ABILITIES AND WORK ENVIRONMENT:

  • Must be well versed in the use of Excel, Microsoft Access and Microsoft Word.
  • Must have strong analytical skills.
  • Must have strong written and verbal communication skills in addition to interpersonal communication skills.
  • Must be comfortable communicating with Senior Regional Leadership

WORK ENVIRONMENT:

Work is performed in a company office building. Lifting requirements of up to 25 pounds on an occasional basis may be required. Wrist and finger manipulation due to computer work, calculating, compiling and filing. Equipment used may include but is not limited to computer, calculator, telephone, copy and fax machines.

MINIMUM REQUIREMENTS:

  • Bachelor’s Degree in related degree program preferred
  • Five years related experience

An industry leader, FMP offers well-balanced compensation and benefits programs, which may include medical, dental, vision, life, 401K, profit sharing, paid holidays/vacation/sick time, STD/LTD, much more. Salary is based on experience and job performance.

Job Type: Full-time

Benefits:

  • 401(k)
  • 401(k) matching
  • Dental insurance
  • Health insurance
  • Life insurance
  • Paid time off
  • Vision insurance

Schedule:

  • Monday to Friday

Application Question(s):

  • What are your compensation expectations?

Work Location: In person

Job Summary

JOB TYPE

Full Time

INDUSTRY

Wholesale

SALARY

$80k-98k (estimate)

POST DATE

05/25/2024

EXPIRATION DATE

09/20/2024

WEBSITE

factorymotorparts.com

HEADQUARTERS

SAINT PAUL, MN

SIZE

500 - 1,000

FOUNDED

1945

TYPE

Private

CEO

DENNIS LARSON

REVENUE

$10M - $50M

INDUSTRY

Wholesale

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The job skills required for Pricing Analyst include Pricing, Analysis, Initiative, Leadership, Pricing Strategy, Product Management, etc. Having related job skills and expertise will give you an advantage when applying to be a Pricing Analyst. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Pricing Analyst. Select any job title you are interested in and start to search job requirements.

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The following is the career advancement route for Pricing Analyst positions, which can be used as a reference in future career path planning. As a Pricing Analyst, it can be promoted into senior positions as a Competitive Pricing Manager that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Pricing Analyst. You can explore the career advancement for a Pricing Analyst below and select your interested title to get hiring information.

If you are interested in becoming a Pricing Analyst, you need to understand the job requirements and the detailed related responsibilities. Of course, a good educational background and an applicable major will also help in job hunting. Below are some tips on how to become a Pricing Analyst for your reference.

Step 1: Understand the job description and responsibilities of an Accountant.

Quotes from people on Pricing Analyst job description and responsibilities

Pricing analysts understand business trends and market values for the products and services their organizations offer.

03/24/2022: Virginia Beach, VA

Pricing analysts help determine what prices to set and whether current rates need adjustment.

02/05/2022: Denver, CO

Pricing analysts conduct research to learn the history of the product and previous market trends.

02/24/2022: Lafayette, LA

Pricing analysts collaborate with organizations that employ some form of a recurring revenue model to test various hypotheses about the efficacy of existing and proposed business models, pricing and packaging structure, and general market behavior.

03/14/2022: Boca Raton, FL

Heavily quantitative role focused on guiding management through developing pricing policies.

03/05/2022: Helena, MT

Step 2: Knowing the best tips for becoming an Accountant can help you explore the needs of the position and prepare for the job-related knowledge well ahead of time.

Career tips from people on Pricing Analyst jobs

Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.

04/10/2022: Fayetteville, NC

Students and new graduates can usually gain the necessary experience through a junior pricing analysis or finance position.

01/21/2022: Springfield, IL

Use pricing models to measure product profitability.

03/27/2022: Pittsfield, MA

Undertake ad-hoc pricing analysis as required by superiors.

03/02/2022: Boulder, CO

Therefore, to better understand changing price points, businesses should conduct new pricing-sensitivity study and market price tests right away.

03/12/2022: Hopkinsville, KY

Step 3: View the best colleges and universities for Pricing Analyst.

Butler University
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