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- Tasks: Define and implement pricing strategies to optimise margin performance across EMEA.
- Company: Join RS Group, a leader in engineering solutions with over 80 years of experience.
- Benefits: Enjoy a hybrid work environment, development opportunities, and a commitment to diversity and inclusion.
- Why this job: Make a real impact by leveraging data and analytics to drive pricing strategies and business success.
- Qualifications: Strong data analysis skills, proficiency in Excel, and knowledge of pricing strategies required.
- Other info: Collaborate with cross-functional teams and build relationships to enhance margin optimisation.
The predicted salary is between 36000 - 60000 £ per year.
Location: UK (Corby or Manchester)
The primary purpose of this role is to define and implement effective pricing strategies while proactively optimizing margin performance for assigned product categories and/or sales organizations across the EMEA region. This will be achieved through margin and performance analysis, interpreting market and commercial strategies, leveraging external market insight and overlaying effective pricing techniques.
Working closely with the pricing team and other relevant commercial functions, this role plays a significant role in optimising ongoing margin performance by leveraging data/analytics and commercial understanding to define and implement effective pricing strategies in close collaboration with relevant stakeholders.
Responsibilities:
- Develop differentiated pricing strategies to optimise margin performance by applying knowledge of RS value proposition, customer base, market and commercial strategies, external market conditions including competitive landscape.
- Analyse and interpret large data sets and insights to assess potential outcomes of proposed pricing strategies and offer counsel based on data to business stakeholders.
- Understand and assess relevant competitors and their market position to ensure RS pricing strategies are aligned to market dynamics and customer expectations.
- Monitor margin, customer, market and financial performance to identify trends and drivers of performance change, identify whether implemented pricing strategy is delivering forecasted outcome, trigger a review of pricing strategy as appropriate.
- Collaborate with Pricing Specialists on regular basis to ensure alignment of strategy and implementation and highlight/resolve issues and opportunities for margin optimisation as they arise.
- Communicate pricing strategy and reviews, and with key drivers of change, follow collaboration with key stakeholders and partners.
How I make a difference in this role:
- Commercial understanding: Gaining a comprehensive understanding of the company's value proposition, customer base, and market strategies will support in making well-informed pricing recommendations that align with the company's objectives.
- Analytical curiosity: Deep dive into data with a curious mindset and integrate with market insights and expertise.
- Stakeholder management: Build and maintain strong relationships with stakeholders. Effective collaboration and influencing skills are essential for gaining support and driving successful initiatives.
- Continuous improvement: Stay curious and continuously seek opportunities to learn and grow.
- Cross-functional collaboration: Work closely with end-to-end (E2E) functions, such as Sales, Marketing and Category management to support the delivery of key performance indicators (KPIs).
What we are looking for:
- Data Analysis and Interpretation: Ability to analyse large data sets, identify trends, and derive actionable insights to inform pricing decisions.
- Proficiency in Excel: Expertise in Excel, including advanced functions, pivot tables, and macros to enable forecasting of pricing impacts and optimise strategies.
- Business Acumen and Customer focus: Ability to interpret the external and internal market conditions that may influence pricing decisions and identify opportunities for margin improvement.
- Knowledge of Pricing Strategies: Understanding various pricing models (e.g., cost-plus, value-based, dynamic pricing) and when to apply them to maximize revenue and margin.
- Strategic Thinking: Ability to think long-term and align pricing strategies with overall business objectives and market dynamics.
- Communication and Influence: Able to clearly communicate complex information and collaborate effectively with stakeholders.
- Market Research Skills: Ability to conduct competitor and market analysis to understand external factors that may influence pricing decisions.
- Experience with Pricing Software: Familiarity with pricing tools and software that can automate and optimize pricing strategies (e.g., Vendavo, PROS).
- Project Management Skills: Strong organisational skills to manage multiple pricing initiatives, deadlines, and cross-functional projects simultaneously.
Senior Margin Optimisation Analyst employer: ENGINEERINGUK
Contact Detail:
ENGINEERINGUK Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Margin Optimisation Analyst
✨Tip Number 1
Familiarise yourself with the latest trends in pricing strategies and margin optimisation. Understanding various models like cost-plus and dynamic pricing will give you an edge when discussing your approach during interviews.
✨Tip Number 2
Brush up on your data analysis skills, especially in Excel. Being able to demonstrate your proficiency with advanced functions and pivot tables can set you apart as a candidate who can handle large data sets effectively.
✨Tip Number 3
Network with professionals in the field of margin optimisation and pricing strategies. Engaging with industry experts can provide insights into best practices and may even lead to referrals for the position.
✨Tip Number 4
Prepare to discuss your experience with cross-functional collaboration. Highlighting examples where you've successfully worked with sales, marketing, or category management teams will showcase your ability to align pricing strategies with broader business objectives.
We think you need these skills to ace Senior Margin Optimisation Analyst
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Senior Margin Optimisation Analyst position. Tailor your application to highlight how your skills and experiences align with the job description.
Highlight Relevant Experience: In your CV and cover letter, emphasise your experience with data analysis, pricing strategies, and stakeholder management. Use specific examples that demonstrate your ability to optimise margins and implement effective pricing strategies.
Showcase Analytical Skills: Given the importance of data analysis in this role, include details about your proficiency in Excel and any relevant pricing software you've used. Mention specific projects where you've successfully analysed data to inform pricing decisions.
Communicate Effectively: Your application should reflect strong communication skills. Ensure your cover letter clearly articulates your understanding of the company's value proposition and how you can contribute to their goals. Be concise and persuasive.
How to prepare for a job interview at ENGINEERINGUK
✨Showcase Your Analytical Skills
As a Senior Margin Optimisation Analyst, you'll need to demonstrate your ability to analyse large data sets. Be prepared to discuss specific examples of how you've used data analysis to inform pricing decisions in the past.
✨Understand Pricing Strategies
Familiarise yourself with various pricing models such as cost-plus, value-based, and dynamic pricing. During the interview, be ready to explain when and how you would apply these strategies to maximise revenue and margin.
✨Communicate Effectively
Strong communication skills are essential for this role. Practice articulating complex information clearly and concisely, especially regarding pricing strategies and their implications. This will help you build rapport with stakeholders.
✨Demonstrate Stakeholder Management
Highlight your experience in building and maintaining relationships with stakeholders. Share examples of how you've collaborated with cross-functional teams to drive successful initiatives, as this is crucial for the role.
