Product Pricing Analyst / Strategist

About The Concept Group

The Concept Group is a holding company for companies established in 1992. Subsidiaries under the Group include: Rosabon Financial Services – Nigeria’s Leading Financial Intermediary and Equipment Leasing Company, Concept Nova – Bespoke Enterprise IT Solutions Company, Percy Aitkins – Bureau De Change.

Job Summary

• Pricing analysts are highly analytical and work with complex data from multiple sources to help an organization determine and set competitive prices to increase market share and achieve revenue goals.
• They are responsible for developing pricing models that incorporate margins for promotional and seasonal pricing based on competitor, market, and customer data.
• The role of the Product Pricing Strategist encompasses working with the product team members and all other stakeholders within the organization to ensure that the pricing for all new & existing products across our business lines; Asset creation and Wealth management are optimally set to ensure optimal product performance, exponential growth and business profitability.

Duties & Responsibilities

• Conducting market research to identify pricing trends, customer preferences, and competitor pricing strategies.
• Analyzing data and developing pricing models that optimize revenue and profitability.
• Collaborating with cross-functional teams, including sales, marketing, and finance, to develop pricing strategies that align with business goals.
• Lead pricing-related projects including establishing timelines, defining deliverables and drafting communications or presentations.
• Maintain knowledge and stay abreast of developments in the industry via information obtained from financial publications and services, government agencies, company sources, and personal interviews
• Monitoring sales performance and adjusting pricing strategies as necessary to improve revenue and profitability.
• Developing pricing policies and guidelines that ensure consistency across product lines and geographies.
• Conducting pricing experiments and analyzing the results to identify opportunities for optimization.
• Communicating pricing strategies and recommendations to senior leadership and other stakeholders.
• Responsible for documenting and maintaining pricing processes.
• Responsible for the review and administration of price deviations and exceptions.
• Guarantee the accuracy of pricing data in ERP, targeting to eliminate pricing errors and ensure accurate communication to customers/clients
• Any other tasks as assigned by the line manager

Qualifications / Requirements

• Bachelor’s Degree in Finance, Economics, Statistics, Business Administration or other relevant fields
• Minimum of three (3) years’ quality experience in a similar role.
• Proven and successful experience leading high-performing product pricing and promotional strategies for a business, resulting in increased revenue

Job Knowledge:

• Must have a strong understanding of market trends, consumer behavior, and pricing strategies
• Must be knowledgeable on product development methodologies
• Must be knowledgeable on project management
• Must be familiar with data analysis and interpretation
• Must be able to conduct product lifecycle analysis
• Must understand voice of customer (VOC)
• Must have knowledge on strategy creation for product adoption.

Skills / Competencies:

• Ability to work collaboratively with cross-functional teams
• Ability to work independently and effectively in a team environment
• Excellent analytical, decision-making, and problem- solving skills
• Attention to accuracy and detail required
• Critical thinking and problem resolution skills
• Must be technologically savvy
• Excellent organizational, planning, verbal, and written communication skills
• Competence to analyze financial and non-financial data
• Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form
• Ability to effectively exchange information, in verbal or written form, by sharing ideas, reporting facts and other information, responding to questions, and employing active listening techniques
• Proficiency in data analysis tools and techniques, such as Excel, SQL, and statistical software