Job Description:
Summary:
The Pricing Manager is responsible for leading the development, implementation, and optimization of pricing strategies that drive profitable growth, margin realization, and market competitiveness. The role partners with Sales, Marketing, and Finance to align pricing structure, process and decisions with market conditions, customer value, business goals, and profitability targets. The incumbent uses analytics, pricing governance, market intelligence, and cross-functional influence to identify pricing opportunities and deliver measurable profit improvement. This position will not have any direct reports.
Essential Duties & Responsibilities:
- Lead the implementation and optimization of pricing processes, systems, methodologies, best practices, and technology platforms.
- Serves as the organization’s subject matter expert and strategic advisor on pricing decisions, governance and profitability improvement opportunities.
- Develop and execute pricing strategies that maximize revenue, margin, and market share that support overall Product Management strategies
- Analyze market dynamics, competitive positioning, customer segments, and value propositions to identify pricing opportunities and drives pricing strategy recommendations.
- Lead annual, quarterly, and ad hoc pricing reviews and recommend pricing changes aligned to business objectives and market conditions.
- Manage pricing governance processes and support adherence to established pricing policies.
- Conduct profitability and margin analysis across products, customers, channels, and market segments.
- Develop pricing models, scenarios, business cases to support data-driven decision-making and strategic pricing initiatives.
- Monitor pricing performance and provide actionable recommendations to leadership.
- Create dashboards and reporting tools that track pricing effectiveness, price realization, and margin realization.
- Partner with Sales and provide strategic pricing leadership to support customer pricing negotiations and contract decisions.
- Support Product Management and Marketing to establish pricing for new product launches.
- Work with Finance to ensure pricing actions align with forecasts and profitability goals.
- Collaborate with sourcing to understand raw material cost increases and associated price impacts
- Monitor competitive pricing, market trends, customer behavior, and economic factors to assess opportunities and risks.
- Identify opportunities for value-based pricing, margin expansion, and continuous improvement in pricing tools and processes.
Education & Other Competencies :
- Bachelor’s degree in Business, Finance, Economics, Marketing, or a related field.
- Minimum of 5 years of pricing, finance, commercial analytics, or related experience.
- Experience in a manufacturing, industrial, consumer products, or B2B environment preferred.
- MBA, advanced degree, or relevant professional certification preferred.
- Strong knowledge of pricing strategy, profitability, margin management, and market analysis.
- Strong analytical and financial modeling skills, including Excel and business intelligence tools.
- Business and commercial acumen with the ability to translate data into actionable recommendations.
- Strong communication, presentation, and cross-functional collaboration skills.
- Ability to influence without direct authority and effectively manage projects and priorities.
- Strategic thinking, problem-solving, and continuous improvement mindset.
ITW is an equal opportunity employer. We value our colleagues’ unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential.
As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship.
All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.
