Pricing Strategist Job Description [Updated for 2025]

In the evolving world of business, the need for Pricing Strategists is more critical than ever.

The world of commerce advances, and with each leap, the demand for skilled professionals who can shape, develop, and protect our pricing strategy grows louder.

But let’s delve deeper: What is truly expected from a Pricing Strategist?

Whether you are:

• A job seeker trying to comprehend the core of this role,
• A hiring manager mapping out the perfect candidate,
• Or simply curious about the intricacies of pricing strategy,

You’re in the right place.

Today, we present a customizable Pricing Strategist job description template, designed for easy posting on job boards or career sites.

Let’s dive right in.

Pricing Strategist Duties and Responsibilities

Pricing Strategists play a crucial role in helping businesses determine the price points for their products or services.

They analyse market trends, cost factors and the competitive landscape to establish pricing strategies that drive revenue and growth.

Here are some of the primary duties and responsibilities:

• Analyzing market trends and identifying potential pricing opportunities and strategies
• Conducting market research to understand competitor pricing and customer preferences
• Working closely with the sales and marketing teams to develop pricing strategies and models
• Assessing the financial implications of pricing changes, including impacts on margins, revenues, and market share
• Presenting pricing strategies and recommendations to senior management and key stakeholders
• Developing pricing tools and systems to support the pricing process
• Monitoring and updating pricing strategies to reflect changes in market conditions or company objectives
• Ensuring compliance with pricing policies and regulations
• Collaborating with product management to define pricing for new product launches

 

Pricing Strategist Job Description Template

Job Brief

We are seeking a meticulous and analytical Pricing Strategist to join our team.

The Pricing Strategist will be responsible for developing and implementing pricing strategies for our products, analyzing market trends, and making pricing recommendations to senior management.

Our ideal candidate has a strong background in market research and a keen understanding of pricing strategies in our industry.

They should be capable of analyzing complex data and have excellent communication skills to present their findings and strategies effectively.

 

Responsibilities

• Develop and implement effective pricing strategies.
• Analyze market trends and competitors’ pricing.
• Collaborate with marketing and sales teams to set product pricing.
• Monitor industry trends and update pricing strategies as needed.
• Conduct detailed market research to identify pricing opportunities.
• Present pricing strategies to senior management and key stakeholders.
• Ensure pricing strategies adhere to company policies and guidelines.
• Regularly review pricing strategies and make recommendations for improvements.
• Provide support to sales teams through detailed pricing analysis and recommendations.

 

Qualifications

• Proven work experience as a Pricing Strategist or similar role.
• Excellent analytical and numerical skills.
• Strong understanding of market research and data analysis.
• Knowledge of financial forecasting and diagnosis, corporate finance, and information analysis.
• Proficient in MS Excel and other data analysis tools.
• Excellent verbal and written communication skills.
• BSc degree in Finance, Accounting, Business Administration or relevant field. A Master’s degree would be advantageous.

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Pricing Strategist
• Work Environment: Office setting with options for remote work. Some travel may be required for market research or team meetings.
• Reporting Structure: Reports to the Director of Pricing Strategy or Chief Financial Officer.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $85,000 minimum to $140,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Pricing Strategist Do?

Pricing Strategists typically work for large corporations, marketing firms, or consultancies, and are instrumental in setting the prices for products and services that a company offers.

Their main responsibility is to analyze various factors such as market trends, customer demand, competition, and production costs to determine the best price that will maximize profitability while ensuring customer satisfaction.

They also develop pricing strategies and models, often using sophisticated software, to predict how changes in prices will affect sales volumes, revenue, and profit margins.

Pricing Strategists work closely with the marketing, sales, and product development teams to understand the value proposition of each product or service and ensure that the pricing strategy aligns with the overall business strategy.

They continuously monitor and adjust pricing strategies based on market dynamics, including competitor pricing, and provide reports and recommendations to senior management.

They may also be involved in the development of promotional pricing strategies.

Additionally, they are responsible for ensuring pricing compliance with legal and regulatory requirements and may play a role in contract negotiations.

Pricing Strategists need to have a strong understanding of economics, excellent analytical skills, and a thorough knowledge of the company’s industry and market.

 

Pricing Strategist Qualifications and Skills

A successful Pricing Strategist should have a range of skills and qualifications that are critical for the role, such as:

• Strong analytical skills to evaluate complex pricing data and draw accurate conclusions
• Detail-oriented with a strong ability to manage multiple projects simultaneously and deliver on time
• Excellent numerical skills to deal with large sets of numerical data, statistics and budget numbers
• Problem-solving abilities to identify pricing issues and challenges, and develop effective solutions
• Excellent communication skills to present pricing strategies to stakeholders, management, and colleagues
• Familiarity with pricing software and tools, as well as proficiency in Excel and other data analysis software
• A solid understanding of the market, including competitors and customers, to create effective pricing strategies
• Ability to work collaboratively with sales, marketing, and finance teams to develop and implement pricing strategies that maximize profit and market share

 

Pricing Strategist Experience Requirements

Entry-level Pricing Strategists may have 1 to 2 years of experience, often gained through internships or part-time roles in finance, economics, or marketing departments.

This initial experience can also be obtained in roles like Pricing Analyst or Financial Analyst, where they will develop a solid understanding of the pricing strategies and market dynamics.

Candidates with more than 3 years of experience would have had the chance to work in more specialized roles like Pricing Manager or Pricing Specialist.

In these positions, they could have refined their skills in pricing strategies, data analysis, market research, and competitive pricing analysis.

Those with over 5 years of experience might possess leadership experience and may be prepared for high-level roles.

They may have had the opportunity to manage a team, design comprehensive pricing strategies, and make significant contributions to revenue and profit growth.

This level of experience is typically required for senior or executive Pricing Strategist roles.

Additionally, pricing strategists with extensive experience should have a proven track record in successfully establishing, implementing, and adapting pricing strategies based on market trends and company objectives.

 

Pricing Strategist Education and Training Requirements

Pricing Strategists typically hold a bachelor’s degree in business, economics, finance, or a related field.

Their course of study should ideally include classes in pricing strategy, market research, economic theory, and statistics.

In addition to a strong theoretical foundation, practical experience in business strategy, market analysis, and financial modeling is highly beneficial.

This could be gained through internships, co-op programs, or entry-level positions in relevant industries.

For more complex roles, or those within certain sectors, a master’s degree in business administration (MBA) with a focus on pricing strategy or finance may be required.

Pricing strategists may also benefit from professional certifications such as Certified Pricing Professional (CPP) offered by the Professional Pricing Society.

Such certifications demonstrate a commitment to the field and a high level of expertise.

Furthermore, given the dynamic nature of markets and the constant evolution of pricing models, it is crucial for pricing strategists to engage in continuous learning and professional development.

This could be achieved through workshops, seminars, online courses, or industry conferences.

 

Pricing Strategist Salary Expectations

A Pricing Strategist earns an average salary of $81,426 (USD) per year.

The actual earnings can differ based on experience, industry, and the region in which they are employed.

 

Pricing Strategist Job Description FAQs

What skills does a Pricing Strategist need?

A Pricing Strategist should have strong analytical skills to evaluate market trends and competitors’ pricing strategies.

They need excellent problem-solving abilities and strategic thinking to develop optimal pricing strategies that benefit the organization.

Good communication and negotiation skills are also essential to effectively present pricing strategies to stakeholders and negotiate with vendors or partners.

 

Do Pricing Strategists need a degree?

Yes, a Pricing Strategist typically requires a bachelor’s degree in business, economics, marketing, or a related field.

Some roles may also require a master’s degree or an MBA.

Additionally, experience in pricing, marketing, or sales can be beneficial.

 

What should you look for in a Pricing Strategist resume?

When evaluating a Pricing Strategist’s resume, look for a strong background in business, economics, or marketing, with an emphasis on pricing strategy and market analysis.

Experience with data analysis and forecasting tools is also a plus.

Finally, make sure to consider their experience in your industry and their familiarity with your target market.

 

What qualities make a good Pricing Strategist?

A good Pricing Strategist has a strategic mindset and can analyze complex data to make informed decisions.

They are detail-oriented, have strong problem-solving skills, and can think critically about pricing challenges.

They should also be adaptable and able to adjust pricing strategies based on market trends and business needs.

 

What is the role of a Pricing Strategist in a company?

A Pricing Strategist is responsible for developing and implementing pricing strategies to maximize a company’s profits while ensuring customer satisfaction.

They analyze market trends, evaluate competitors’ pricing, and consider company costs to set appropriate prices.

They also monitor the effectiveness of pricing strategies and make adjustments as necessary.

Additionally, they may work with sales and marketing teams to develop promotional pricing strategies.

 

Is it difficult to hire a Pricing Strategist?

Hiring a Pricing Strategist can be challenging, as the role requires a unique blend of skills including strong analytical abilities, strategic thinking, and excellent communication skills.

It’s important to look for candidates who not only have the necessary educational background but also have relevant experience in pricing and a deep understanding of your industry.

 

Conclusion

And there you have it.

Today, we’ve demystified what being a pricing strategist truly entails.

Surprise, surprise?

It’s not just about setting prices.

It’s about shaping profitable strategies, one pricing decision at a time.

With our ready-to-use pricing strategist job description template and real-world examples, you’re all set to advance in your career.

But why limit yourself?

Delve deeper with our job description generator. It’s your essential tool for creating impeccably tailored job listings or refining your resume to stand out.

Remember:

Every pricing decision contributes to the overall business strategy.

Let’s shape that profitable future. Together.