Job Description
● Establishing pricing strategies based on competitor pricing, market conditions, and cost factors.
● Reviewing price changes in other industries to identify trends in the marketplace.
● Communicating with managers to ensure that sales staff members understand pricing policies and procedures.
● Calculating the cost of raw materials used in manufacturing products, then adding in labor costs and overhead expenses such as rent and utilities.
● Conducting market research to identify potential buyers of new products based on their projected popularity or profitability.
● Determining whether a product can be produced profitably by calculating costs and estimating demand for the product.
● Analyzing market conditions and customer feedback to determine pricing strategies that will maximize revenue.
● Creating pricing models that incorporate information such as product costs, profit margins, and industry standards.
● Recommending changes to pricing models to improve profitability.
