Vice President, Strategic Pricing

Vice President, Strategic Pricing

The Vice President, Pricing Strategy will be a key member of the extended leadership team and report directly to the Chief Digital Marketing Officer. He or she will drive forward the vision and optimizations in pricing strategy and merchandising business intelligence within, but not limited to, the following areas: ‘retail’ product pricing, promotional pricing, and merchandising analytics. In this collaborative role, the individual will be a pivotal contributor to the key initiative of enhancing gross margin and will champion a robust test and learn practice to evolve business practices and output.

Responsibilities

• Collaborate across functional areas and partner with key stakeholders – including Marketing, Merchandising, Sales, and Finance and business units such as FedGov – to develop and run a successful pricing process through driving the evaluation, recommendations and operationalization of pricing decisions on new and existing products.
• Build innovative opportunities to generate gross margin through conceiving, building and launching new pricing approaches, with ongoing evaluation to drive continuous improvement.
• Identify actionable margin growth opportunity areas through participation in business strategy discussions across the organization and via a strong customer focus
• Establish processes to continuously evaluate our pricing model and results against internal and external metrics, with a strong focus on monetizing pricing strategy innovation by evaluating the addressable market, competition, value proposition and optimal pricing model
• Utilize analytics and a robust testing methodology to assess and optimize key drivers of gross margin performance including pricing, promotions, merchandising mix, product COGS, bundling strategies, and other factors.
• Develop a world-class merchandising business intelligence practice that fosters a vigorous test and learn methodology; own the testing roadmap, financial modeling, implementation plan, tracking/reporting of results, and recommended go-forward strategy; Pilot new pricing/promotion programs.
• Drive recommendations for of pricing strategies across the organization and operationalize/implement go-forward decisions.. Ensures pricing strategies are tied to business goals and profitability drivers.
• Develop means to measure elasticity of product pricing changes and promotional mix/offers on a granular level throughout our customer base
• Understand the role of competitive pricing in specific business lines, evaluating opportunities and building a business case for building tools, features and experiences
• Identify industry pricing trends that will influence pricing decisions and strategy
• Provide strong leadership and influencer skills to drive confidence in pricing and promotion actions throughout the organization
• Establish key performance measures to monitor effectiveness of pricing and promotional policies\

Skills & Experience:

• Minimum 15+ years of experience in pricing and promotions management, preferably in the retail environment
• Strong leadership capabilities, including outstanding influence and communication skills
• Highly analytical and can translate analytics into actionable initiatives and communicate outcome of analytics into clear business objectives
• Highly comfortable working with complex and disaggregated data sets
• Ability to work in a fast-paced, high-output, team-oriented environment
• Demonstrates knowledge and experience with pricing processes, systems, and controls and implements as necessary.
• Demonstrates knowledge of customer economics, financial modeling techniques and related pricing strategies.
• Effective cross-functional collaboration, communication, and project management skills
• Ability to effectively work with and influence executive and functional business leaders. Works closely with CEO, CFO, COO, and CDMO.
• Collaborates effectively across, and at multiple levels of, the organization. Able to effectively communicate complex information to a variety of audiences.
• Facilitate best practices sharing across the function.