Pricing Analysts use statistical processes and analytics to develop prices, margins and market share. They might work
with data supplied by the sales or marketing team, competitor information and other data sources. Pricing analysts
are often called upon to create reports and detailed analyses of product sales and margins, and to identify
opportunities to increase them.
Pricing Analysts provide the management of a business with the analytics that measure product profitability and
support the development of pricing strategies and plans.
Pricing Analysts are responsible for tracking marketplace metrics and trends, as well as establishing, maintaining and
analyzing price reference documentation in order to uncover key market and pricing insights, such as how pricing
strategy will affect the consumer, and how it relates to the company’s competitors.
Pricing Analysts must prepare pricing recommendations based on their analysis, and present them to other business
units such as finance, supply chain, sales and marketing, in order to help those teams make pricing decisions..
Pricing Analysts provides analysis to ensure the pricing of goods and services stays competitive in the market. Conducts
market research and gathers competitive intelligence to make recommendations regarding pricing policies. Maintains
historical pricing data on the organization and its competitors. Coordinates and communicates pricing information for
new product releases.
The duties of Price Analysts includes to provide pricing analysis for management, perform margin and pricing analysis
in order to support business initiatives, monitor and update commercial price lists. They need to validate sales
quotations for accuracy and profitability, develop a system of communication, documentation and review of internal
and external comparative pricing data. It also involves to identify opportunities to optimize sales and profitability
through pricing strategies, confer with sales and marketing teams to develop proposals and prepare multi-year cost
and pricing models that may include labor, materials, subcontracts, travel and other relevant costs.
Pricing Analyst works with service contracts, rate requests, tenders and tariff implementation. Pricing analysts may be
hired on a part-time or full-time basis, overtime work might be required to meet deadlines. The role of Pricing Analyst
requires good reporting and analytical skills, including carrying out weekly and monthly reporting on trade. Price
Analyst needs to be able to cope with working across a range of areas in a busy, commercial environment.
Entry Level Education
- Bachelor’s Degree in Supply Chain Management, Mathematics, Statistics, Economics, Marketing, Finance.
- Master’s Degree of Science in Supply Chain Management.