Pricing Job Description
A pricing manager determines the cost of a company's products. Typically members of the marketing department, pricing managers aim to set prices that appeal to the general public. One way they do this is by monitoring the competition.
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Basics
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Pricing managers have to factor how much it costs to make a product, as well as market value, when setting a price. They then often help promote the product by working with marketing managers to offer special deals and discounts.
Skills
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Pricing managers should be highly analytical to determine the cost of their company's products. They should be innovative, with strong math and communication skills. Those who manage a staff also need to be sound leaders.
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Education
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The majority of companies prefer candidates who possess a bachelor's degree in marketing when hiring a pricing manager. Other areas of study might include economics, communications and business.
Prospects
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Jobs for marketing types such as pricing managers should be solid for years to come. According to the Bureau of Labor Statistics, employment of marketing managers is expected to increase by 12 percent through 2018.
Earnings
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Pricing managers earned a median annual salary of $85,126 in November 2009, according to Salary.com.
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References
- Photo Credit business image by peter Hires Images from Fotolia.com
