What does a Pricing Analyst do?
A pricing analyst is responsible for analyzing competitor pricing matched with market expectations to determine the ideal target price for products of the business. Duties include providing thorough analytical breakdowns of pricing structures and sales funnels of similar competitor products and services and identifying specific strategies used in pricing models of the same. Reports are written in order to evaluate the findings and to propose the results to the relevant departments for effect. Depending on the company, pricing analysts may progress into managerial roles involving financial account management and analysis.
A bachelor's degree in business or a related field is often required to be a pricing analyst. As the job requires specialization and experience in the field, it is typical that pricing analysts possess strong working experience in the industry as a pricing analyst or in another relevant position dealing with competitor pricing and sales. Successful candidates often possess strong analytical and research skills with a keen eye for identifying opportunity.