Vice President, Global Strategic Pricing (Fortune 100)

Position Summary:

 

The Vice President, Global Strategic Pricing is responsible and accountable for establishing a Pricing Center of Excellence which will articulate the overall pricing value proposition for the Company in alignment with our business strategy. This position will play a key strategic and leadership role in shaping and driving the Company’s existing and future business, and will report directly to the Senior Vice President, Strategic Planning and Business Development.

 

The incumbent will develop, champion and successfully implement a value-based, competitive and global pricing strategy across multiple business units, geographic regions, diverse product lines and services.

 

In addition, this individual will establish a disciplined price delivery model, will create tools to measure and enhance overall performance, and will drive pricing practices to ensure competitiveness and strategic positioning in all major markets worldwide.

 

The incumbent will define the goals and targets for price definition and realization; Develop pricing processes including roles and responsibilities of the strategic pricing organization and the pricing implementation teams;

 

Establish systems to measure and control to ensure price consistency across the organization utilizing scorecards to measure performance of the different business units against specific pricing objectives;

 

Provide solid analytics to define sound pricing strategies including sales trends, competitive pricing, costs, impact on profitability, value delivered etc.

 

Through the creation of this Pricing Center of Excellence, the incumbent will also seek to continuously improve its overall strategic pricing capabilities and establish it as an organizational core competence, whereby creating a competitive advantage for our Company within the Medical Device industry.

 

Specific Responsibilities Include:

 

1.  Drive and execute the Company’s strategic vision through the establishment and implementation of a value-based and competitive pricing strategy for all products and services worldwide.

2.  Evaluate and modify existing pricing structures to better align with our overall business strategy, market conditions, customer requirements and value touch points.

3.  Create new, incremental pricing approaches and strategies to drive the existing business and to cultivate new market opportunities, while ensuring profitability as well as ongoing value to our customers.

4.  Lead the strategic pricing team in partnership with marketing teams to develop strategic business frameworks to achieve profitable, market-leading pricing approaches, and to make pricing recommendations for specific products and services.

5.  Establish, recommend and implement pricing and position strategies by leveraging knowledge of diverse and emerging markets, competitive analyses and key financial metrics to attain pricing objectives and targeted revenue growth.

6.  Develop and implement organizational scorecards to monitor pricing impact and effectiveness while identifying opportunities for improvement.

7.  Provide high impact strategic analysis and modeling to support price differentiation and value-based selling; Enable revenue growth through effective and disciplined price management.

8.  Manage business processes to capture opportunities, improve price realization, identify premium pricing opportunities and reduce transaction costs, determine appropriate prices based on market conditions, competition and product life cycle.

9.  Apply standard costs, impact analysis and pricing modeling techniques to evaluate and project benefits and/or risks; assess risk and analyze proposed alternatives for corrective actions to meet plan pricing targets; conduct proactive trend analysis.

10. Identify and understand industry specific trends, competitive positions, forecasted demand, product commoditization, discount pressures, consolidation, globalization, inflation and overall segmentation strategies (product, market, geographical, motivation, and customer type).

11. Develop standard reports, as well as ad hoc analysis to identify new market opportunities based on review of price, volume, share and mix trends.

12. Refine measurement tools to maintain pricing parity among all direct and indirect distribution channels.

13. Manage and lead cross-functional effort to receive financial support and approval for pricing proposals from Marketing Leadership, Regional Commercial Leadership, Financial Leadership, Strategic Planning, Contracts and Executive Leadership.

14.  Support Marketing’s growth and profitability objectives by providing comprehensive post-launch reporting and portfolio reviews; Monitor the competitive landscape to evaluate threats or opportunities and develop strategies for targeted competitive responses.

15. Effectively manage and influence relationships with senior management and other business process owners; interface with Executive Leadership Team, Strategic Pricing Council, external consultants and market research firms.

16. Provide coaching, feedback and ongoing guidance and development to members of the Pricing Center of Excellence to assist in defining customer economic value proposition; to effectively model value proposition to define pricing strategy for all new or existing products; to document customer ROI and to assist in the development of the Sales communication strategy.

17. Maintain product knowledge and regularly monitor industry pricing practices; understand value proposition of our products versus the competition, competing alternatives and internal product and solution offerings.

18. Interacts with all levels of employees and management; nature of these interactions may include devising strategy, providing leadership and direction to employees, solving problems, facilitating meetings etc.

 

Skills and Qualifications:

 10+ years progressive experience in strategic leadership roles with specific focus and expertise in pricing; Medical Device industry experience preferred, however, not requiredBA/BS in Finance or Marketing required; MBA preferredPrevious work experience in Marketing, Sales or in a Financial disciplineMust possess excellent analytical and financial modeling skillsProven abilities in strategy evaluation, scenario planning and managing financial processesProven ability to build and lead teams both within and outside the direct line of authorityBroad and in depth understanding and comprehension of sales processesStrong written, verbal and presentation skillsConfidence in presenting and articulating the Company’s business and strategic pricing value proposition to all internal and external audiences; Strong client relationship management experienceStrong organizational, project management, leadership and management development skills and experienceBudgetary management experience and strong business acumenOutstanding communication skills and ability to present results both orally and in written format in a clear, concise and professional mannerStrong influencing skillsAbility to interface with management and employees at all levels of the organization and to develop and maintain strong and effective working relationships within both the Company and the industry on a global basis