How to Become a Competitive Pricing Manager

Step 1: Understand the job description and responsibilities of a Competitive Pricing Manager

What does a Competitive Pricing Manager do?

A Competitive Pricing Manager manages pricing analysis to ensure the pricing of goods and services stays competitive in the market. Leads market research and competitive intelligence gathering, and makes recommendations regarding pricing policies. Being a Competitive Pricing Manager develops competitive pricing databases to monitor changes in the marketplace and their impact on the organization. Performs analyses on customer price sensitivity and elasticity. Additionally, Competitive Pricing Manager manages pricing analysis to support promotions and new product releases. Requires a bachelor's degree. Typically reports to top management. The Competitive Pricing Manager supervises a group of primarily para-professional level staffs. May also be a level above a supervisor within high volume administrative/ production environments. Makes day-to-day decisions within or for a group/small department. Has some authority for personnel actions. To be a Competitive Pricing Manager typically requires 3-5 years experience in the related area as an individual contributor. Thorough knowledge of functional area and department processes.

People's Opinions on Competitive Pricing Manager responsibilities

Principal Product Manager, Tech, Competitive Pricing (CMT)Our team is responsible for ensuring that pricing at Amazon remains competitive and in line with our core principles of providing low prices, selection and convenience to our customers.

01/24/2020: Rochester, NY

This will require a deep understanding of pricing strategies employed by Amazon and the competitive environment.

02/09/2020: Las Cruces, NM

A business can pick from a variety of pricing strategies and the selection depends on different factors.

12/05/2019: Bergenfield, NJ

Pricing is one of the most important components when it comes to creating marketing strategies.

01/30/2020: Asheville, NC

This means that businesses need to keep an eye on their  competitor’s  pricing strategy while setting prices in order to get the much needed competitive edge in the market.

02/02/2020: Newport News, VA
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Step 2: Learn best tips to become a Competitive Pricing Manager

Best tips for those who want to become a Competitive Pricing Manager

Here are some tips to become a Competitive Pricing Manager.

People's Opinions on best tips

Site wise Product Price Comparison.

12/13/2019: Davenport, IA

Date-wise Product Price Comparison.

01/15/2020: Pensacola, FL

Remember that some conversations are off limits when meeting competitors.

02/11/2020: York, PA

Report concerns to the CMA's cartel hotline.

02/23/2020: Santa Cruz, CA

Starting numbers You need to define the number of competitors to benchmark with and the number of products.

01/22/2020: La Crosse, WI
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Step 3: View best colleges and universities for Competitive Pricing Manager

Best colleges and universities for Competitive Pricing Manager

  • Butler University
  • Carroll College
  • Cooper Union
  • High Point University
  • Princeton University
  • Providence College

Step 4: Think about whether is it worth to be a Competitive Pricing Manager

Is being a Competitive Pricing Manager Worth it?

People's Opinions on lifestyles

That is going to create a competitive environment that will make shopping more challenging for savvy customers.

01/04/2020: Tulsa, OK

Products Pricing ToolComplete and cloud based pricing suite Product Data APIEcommerce API.

01/05/2020: Washington, DC

For Brands MAP & MSRP Monitoring for eCommerceMonitoring recommended selling prices in your distribution channel MSRP InStore™Price check in physical stores Distribution Channel AnalysisMonitor your distributors' product assortments Digital Shelf BenchmarkAnalyse your brands digital presence Pricing ReportsOnline distributor data, on-demand, via API.

01/20/2020: Santa Fe, NM

Minderest has a price tool specialized in textile, which will allow an analysis in depth of your pricing analysis and those of your competitors.

12/11/2019: Peoria, IL

Having a monopoly is one thing—you can set the price the way you want (of course there are few government norms) but setting pricing strategies based on competitors’ behavior isn’t an easy task.

01/19/2020: Salt Lake City, UT
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Step 5: Prepare relevant skills for being a Competitive Pricing Manager

What skills do you need to be a Competitive Pricing Manager?

This role is not a beginner's role, as such, there are many skills required.  It is vital to the role to command: Competitive Intelligence, Marketing Research, Pricing Management.  For this position, you need to be experienced with: General Data Analysis Software.  Management isn't easy, if it were, everyone would have the competenticies to execute the role with success.

People's Opinions on Competitive Pricing Manager skills

This will require a deep understanding of pricing strategies employed by Amazon and the competitive environment.

01/23/2020: Birmingham, AL

Work with sales, purchasing, and marketing teams to gain an in-depth understanding of segment specific pricing strategies and the overall competitive landscape.

02/01/2020: Savannah, GA

Minimum of four years’ experience in Pricing Management, Data Analytics, or a related field.

01/09/2020: New London, CT

In developing competitive pricing, companies require basic knowledge about the price their competitors are offering for a said product and aware of any price changes that occur.

12/06/2019: Fayetteville, NC

However, when deciding on whether to make use of competitive pricing or not, companies should have their skilled and professional sales person make essential and professional consideration such as predatory pricing, price gouging, advertised pricing, ethical issues as well as legal matters.

12/04/2019: Monterey, CA
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Step 6: View average salary for Competitive Pricing Manager

How much does a Competitive Pricing Manager make?

The average salary range for a Competitive Pricing Manager is from $87,197 to $104,346. The salary will change depending on your location, job level, experience, education, and skills.

Salary range for a Competitive Pricing Manager
$87,197 to $104,346

Step 7: Find relevant Competitive Pricing Manager jobs, and apply.

Looking for Competitive Pricing Manager jobs?

Here are some Competitive Pricing Manager jobs in the United States.

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Step 8: Explore Career Path of Competitive Pricing Manager