Teleperformance - Pricing Manager

2 weeks ago

Jaipur, India Teleperformance Global services Full time

A Pricing Manager is the person is the company who has the ultimate responsibility for understanding the business objectives and in turn, developing and implementing a pricing strategy that will support these company goals.

They may be the only person in the company responsible for pricing, or they may run a team of pricing professionals dependent on the size of the business.

Responsibilities Include:

1. Pricing Strategy Selection:

- The Pricing Manager will need to liaise with the leadership team to understand the business objectives.

- Whether for example, the business is targeting revenue growth, profit growth, market share improvement, or stability.

- Only once the business objective has been fully understood, can the Pricing Manager select an appropriate pricing strategy to complement and support the achievement of the business objective.

- For example, if profit growth is required, the Pricing Manager will need to ensure their pricing strategy protects margins.

- Alternatively, if the business objective is to win market share, the pricing strategy must support competitor benchmarking and allow price reductions.

Conduct Market Research:

- It is always sensible for a pricing manager to keep a watchful eye on their competition to try and learn their pricing strategy, and assess any weaknesses that can be taken advantage of.

- For example, you might identify that your prices are a lot more expensive than your competitors, so a price reduction will be required.

- Alternatively, you might identify that your competitors are only changing prices once a week, so you can adjust the timings of your own price changes to coincide exactly after your competitor's price change, so you have a whole week of your price beating theirs.

Implement the Pricing Strategy:

- Once you have selected your chosen pricing strategy, whether you're deciding to be competitor-led, supply-led, demand-led, a mix, or other, you need to put in place the appropriate pricing processes, pricing tools, and pricing personnel to be able to action your pricing strategy.

- The pricing process may document your selected pricing strategy and how it intends to support the business objective.

- The pricing tooling may just simply be to support competitor price monitoring, or it may provide additional assistance with price automation.

- If you have a large product count, it may be appropriate to hire pricing analysts to join your team to support you with the decision-making.

- Assess the Effectiveness of the Pricing Strategy

- Once you have implemented your Pricing Strategy, you will need to identify if the pricing strategy is working.

- For example, if you have set a particular objective to grow your market share, you might assess how much your share of impressions, click-through rates, and revenue has grown on specific products that you have changed the price for.

- Liaise with other departments

- One of the most underused responsibilities of a pricing manager is data sharing.

- Pricing touches so many areas.

- It can support purchasing decisions (any product overlaps I can exploit?).

- It can support negotiation decisions (competitor X is selling much cheaper than me, they must be getting a better price from the supplier).

- All the way through to, supporting marketing conversion, as click-throughs can be held back if you're too expensive

(ref:iimjobs.com)

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