What are the responsibilities and job description for the Senior Manager of Strategic Pricing position at Libbey Glass Inc?
At Libbey, we are MAKERS . No matter what you do at Libbey, you contribute to the making of the finest glass and tabletop products in the world. At Libbey, your valuable impact makes a difference and together we live our legacy while shaping our future to win as one!
LIBBEY : For Makers, By Makers. Since 1818!
OVERVIEW
The Senior Manager of Strategic Pricing for Libbey's United States & Canada's geographies will be responsible for developing and leading a pricing strategy and implementation plan in a manner consistent with achieving the region's sales, margin and brand positioning objectives. With proven strong business and financial acumen, this role will optimize profit margin through a broad understanding of market dynamics, internal profitability drivers, and the development of analytical tools and best practices in portfolio pricing and contract management. This position will partner with the leaders of Americas Finance, Sales and Marketing teams to lead projects that develop pricing and value selling technology and infrastructure within the Retail, Foodservice, B2B and E-Commerce market segments.
RESPONSIBILITIES
- Be the primary steward of the pricing strategy and administration for all business within the United States and Canada.
- Develop the pricing and monetization strategy across all product offerings across multiple critical business units, informed by data-driven insights and market feedback
- Thought leadership and ownership on pricing strategies and actively drive alignment and communication of product pricing strategies across cross-functional teams
- Conduct periodic reviews of product price performance and define, track and measure pricing KPIs, identifying actionable decision insights to improve Pricing and Packaging
- In collaboration with the functions, influences a comprehensive understanding of key drivers of strategic pricing including but not limited to demand and supply trends, competitive pricing and profitability, switching costs, substitution, raw materials and competitive packaging price trends, customer profitability.
- Support business units in gaining alignment on Pricing and Packaging changes and passing Pricing Committee approval reviews
- Provide significant contributions for the annual budgeting / planning cycles as it relates to pricing strategies and policies.
- Validate the financials of new product development projects through the NPD process gates.
- Work with Sales and Operations to set, implement and monitor the policy-based elements of the pricing strategy including freight, packaging, order quantity, volume breaks, on / off invoice rebates, up-charges, terms, etc.
- Work with business functions to develop an in-depth influence of the "cost-to-serve" and other key elements of strategic pricing.
- Translate pricing strategy into executable plans, partnering cross functionally with Marketing, Sales, Sales Operations, and Finance
- Identifying new business and growth opportunities to create incremental growth, including new pricing models and go-to-market approaches.
- Analyze market trends, competitor pricing, and customer value perceptions to inform pricing decisions.
- Develop Pricing Models : Implementing various pricing models (e.g., value-based, competitive, freemium) based on product features, target market, and business goals.
- Continuously monitor and adapt pricing strategies based on market dynamics and customer behavior with active input from the Sales, Marketing and Finance teams
- Develop best practices, policies and guidelines and a governance process for the management of long-term sales contracts.
- Cross-functional Collaboration : Work closely with product management, Sales, Marketing, Sales Operations, Supply Chain, Legal and Finance teams to align pricing strategies with overall business objectives.
- Market Analysis : Conduct thorough market research to understand pricing trends, competitive pricing strategy, and customer willingness to pay.
- Sales Enablement : Equip the sales team with effective pricing tools and strategies to improve quote-to-close ratios. Partner with the Sales & Marketing team to meet with customers in support of contract negotiations.
- Analytics : Monitor and analyze pricing effectiveness, adjusting strategies as needed based on data-driven insights. Pricing Rules, Segmentation, MAP pricing and Price Indexing.
- Global Considerations : Adapt pricing and packaging strategies to cater to global market nuances, currency variations, and compliance requirements.
- Competitive Intelligence : Stay abreast of competitor pricing moves and market dynamics to ensure competitive positioning. Build relationships with key 3rd party industry analysts or partners for strategic feedback and trend analysis. Benchmark and communicate best practices in customer contracts.
- Lead and develop a team of pricing experts, with strong service and analytical capabilities, who are responsible for providing valuable, timely solutions.
- Lead, influence and empower the organization to fulfill our purpose (living our legacy, shaping our future and winning as one)
- Cultivate a diverse and inclusive culture where associates can thrive, make us better and fuel ideas / innovations to ensure our long-term success
REQUIREMENTS & QUALIFICATIONS
REPORTING
OUR ENVIRONMENT
Libbey is an Equal Employment Opportunity ("EEO") Employer.
We are committed to an inclusive workplace, free of harassment and discrimination.
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