Sales, Marketing and Communications
Pricing Analyst
Pricing analysts interpret market trends, manufacturing costs, and competitor behaviour to set prices for goods and services.
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Entry-level education
Bachelor’s degree
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Job outlook
What does a Pricing Analyst do?
Pricing analysts interpret market trends, manufacturing costs, and competitor behaviour to set prices for goods and services.
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Work activities
As a pricing analyst, you would:
- analyse manufacturing prices and breakdown of costs
- monitor and forecast marketing and sales trends
- understand detailed changes in the market in relation to costs, competitors and legislation
- use relevant statistical software to analyse the data
- review existing pricing contracts
- convert complex data and findings into easy-to-read tables, graphs, and written reports
- ensure integrity and quality of pricing data.
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Key skills and interests
To become a pricing analyst, you would need:
- excellent maths and computer skills
- the ability to analyse and interpret statistics and other data
- good spoken and written communication skills
- creative ability to make data interesting for people who aren’t experts
- problem-solving skills
- accuracy and strong attention to detail.
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Working hours and conditions
Working Hours
In a full-time role as a pricing analyst, you would work a standard number of hours per week, with necessary overtime to meet project deadlines.
Conditions
The majority of pricing analysts are employed by large consumer goods or financial services businesses or market research agencies that carry out projects for different companies and industries.You would usually be based in an office with occasional travel to client meetings.
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How to become an Pricing Analyst?
Pricing analysts typically complete a degree in market research, or in business, management or commerce with a major in marketing. A degree in other relevant subjects such as statistics, sociology, maths or economics may also be appropriate. To get into these courses you usually need to gain your senior secondary school certificate or equivalent. English and mathematics are appropriate subjects to study prior to university.
Graduates of marketing courses may qualify for membership of the Australian Marketing Institute or Australian Market and Social Research Society.
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Job outlook
Employment of pricing analysts is projected to grow faster than the average for all occupations.
Employment growth will be driven by an increased use of data and market research across all industries, to create more accurate pricing structures, and to measure the effectiveness of marketing and business strategies against product pricing.
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