Project Manager, Retail Pricing Strategy

University of Waterloo - Waterloo, ON (12 months ago)

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Term: 11 months

The Project Manager, Retail Pricing Strategy is responsible for the direction, coordination and implementation of pricing strategy for Print + Retail Solutions’ (P+RS) general merchandise products (i.e., all retail merchandise except text books and course materials).

The incumbent will take the lead on mapping out the future pricing of general merchandise products by conducting extensive market research of competitors and analyzing existing pricing within general merchandise products at W Store and W Store Essentials locations. This role will make a meaningful impact in setting the future direction of the department’s pricing strategy, and will collaborate extensively with colleagues on its development, including creation of sales and merchandising strategies.


Pricing Strategy

Develops, tests and implements pricing models that best align with each product category, which may include creating new models or variations of existing pricing approaches
Prepares and presents recommendations to the Retail Strategy Working Group for updates to current pricing for existing offerings, identifying and evaluating opportunities to drive revenue for new products that reflect competitive position and value generated
Develops financial models that adhere to the strategy set by the Retail Strategy Working Group and facilitates analysis supporting and evaluating pricing initiatives and decisions
Understands and evaluates customer-level economics and customer lifetime value
Serves as a partner to help the Purchasing & Merchandising and Marketing teams to develop strategy, developing creative pricing solutions and value driven talking points that drive product and revenue growth
Defines and establishes frameworks for pricing decisions and activities across various objectives, including revenue growth, margin, customer acquisition and expansion, retention, lifetime value and market penetration
Partners with the Purchasing & Merchandising and Marketing teams to establish SKU strategies and pricing recommendations based on the financial framework set by the Retail Strategy Working Group
Develops pricing strategies factoring list prices, discounting, channel pricing, bundling, and market segmentation, considering competitive pricing

Project Management

Reports on project progress, and offers viable solutions to issues as they arise
Leads meetings and sets expectations for the project team
Prepares reports for the Leadership Team regarding status of project
Solves complex and ambiguous problems by leveraging quantitative and qualitative analyses, driving large cross-functional initiatives to their conclusion, and building new practices from scratch
Supports development of transition plans to new approaches, using effective change management techniques

Market Research

Leads external customer research to understand and validate pricing value drivers and customer willingness to pay (e.g., customer surveys, one-on-one interviews, store intercept surveys, focus groups)
Conducts market research and competitive analysis to determine pricing strategy for new and existing products
Identifies and evaluates drivers of pricing and revenue strategy: customer willingness to pay, competitor benchmarking, market segmentation, macro economic influences, and economics within the campus retail sector

Customer Service

Commits to positive interactions with all customers and provides appropriate level of assistance regardless of situation or location
Ensures that all customer inquiries are handled in a professional, timely manner; and in cases when customers should be redirected to other staff, the incumbent will ensure that the redirection is complete and that the customer is not left without service

Effective Communication & Collaboration

At all times, acts as a brand ambassador for P+RS and the University of Waterloo
Interacts regularly with all P+RS staff and supports cross-promotion of products and services wherever possible
Collaborates with cross-functional teams to identify areas for pricing process improvement, develops strategies that drive sales, and ensures that P+RS product offering remains competitive
Creates presentations that concisely present data, anticipates questions and concerns from leadership, and clearly articulates key insights and recommendations to influence strategic direction
Participates in other P+RS purchasing and merchandising initiatives as time and resources allow
A bachelor's degree or college diploma in merchandising, business administration, commerce or economics, or equivalent combination of relevant education and experience
Formal training in Microsoft Excel is an asset
Project management qualification (e.g., PMP) is an asset
Demonstrated knowledge and experience developing and managing pricing strategy in a retail setting
A minimum of three years’ experience in facilitating comprehensive inventory analysis
A minimum of three years’ experience in project management and/or merchandising is required, preferably in relevant product categories such as apparel, stationery and gifts (an equivalent combination of education, training and/or experience may be considered)
Strong computer skills, with experience in Microsoft Office (Word, Excel, Outlook)
Advanced Microsoft Excel skills
Excellent written and verbal communication skills, and exceptional interpersonal skills
Strong understanding of financial reports and data analysis in a retail environment
Excellent project management skills and proven success in leading large projects
Strong knowledge of relevant customer demographics and proven success in market research
Proven ability to work independently with minimal direction on a regular basis
Strong attention to detail and accuracy
Excellent organizational, prioritization and time management abilities
Strong problem solving skills
This position requires exertion of physical sensory effort resulting in slight fatigue, strain or risk of injury. Some lifting, bending and stretching is required from time to time, in order to move equipment and display products for sale
There will be unusual hours and schedules, extended weekend hours and weekday extended hours from time to time, with varying volumes of work at different times of the year