What Is a Pricing Specialist and How to Become One
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What Is a Pricing Specialist?
Pricing specialists establish and enforce pricing strategies for their company. As a pricing specialist, you work closely with upper management and the sales department to develop pricing strategies. Your job duties include monitoring the market for price fluctuations, ensuring employees follow the established pricing policies, and making sure that store signage is in line with pricing strategies. You also create customer quotes and let customers know about special pricing when available. The qualifications to pursue a career as a pricing specialist include a bachelor's degree in accounting, business administration, or a related field, although some employers may prefer a master's degree.
How to Become a Pricing Specialist
Becoming a pricing specialist requires you have some formal qualifications and education, typically at least a bachelor’s degree in business, market analysis, or a closely related field. As this can be a data- and research-intensive position, some employers prefer candidates with a master’s degree and prior experience in data analytics. Your duties and responsibilities pertain not only to performing and understanding complex market analyses, but also conveying your finding to stakeholders, so you must have strong communications skills in order to translate complex material into understandable forms. Many pricing specialists begin along their career paths in related, but less senior positions, as assistants and research associates.
Pricing Specialist Job Description Sample
With this Pricing Specialist job description sample, you can get a good idea of what employers are looking for when hiring for this position. Remember, every employer is different and each will have unique qualifications when they hire for a Pricing Specialist role.
Job Summary
Our company is seeking a Pricing Specialist to join our team. Your primary responsibility in this role will be to establish and enforce pricing guidelines for our products. You will closely watch the market and develop a strategic pricing plan to ensure we remain competitive while still making a profit. You will also provide sales support to our team to make sure that their invoicing and purchase order procedures are all in line with your guidelines. Our ideal applicant has a bachelor's degree in accounting and several years of experience with data management, vendor management, and the use of SAP ERP software.
Duties and Responsibilities
- Conduct market research to develop competitive yet sustainable pricing guidelines
- Train and support the team to uphold your guidelines
- Carefully watch the market to update your prices
- Offer special prices to customers when they are available
Requirements and Qualifications
- Bachelor's degree in accounting
- Several years of strategic pricing experience
- Vendor, data, and database management skills (preferred)
- Proficiency with SAP ERP software
