A Pricing Analyst reviews statistical information regarding product pricing to locate trends or patterns in consumer spending.
Pricing analysts must prepare pricing recommendations based on their analysis, and present them to other departments such as finance, sales and marketing, in order to assist those making pricing decisions.
Larger companies have whole departments dedicated to pricing led by a Pricing Manager.
As part of pricing analyst duties, she is responsible for creating a master list of key items central to the product created by the company. This list is used to quickly check the prices on a regular basis and determine if further negotiations or adjustments are necessary.
Analysing the results of purchasing and product pricing decisions forms a major part of a price analyst’s day. This work requires analysis of the impact of decisions is central to determining if further adjustments are required.
The pricing analyst has a very important role in the process of cost accounting which involves carefully tracking the costs associated with every stage of product development.
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