A price analyst is a professional who compiles, studies, and analyzes pricing trends and statistical data to calculate the feasibility of buying a particular product and to establish price objectives for reselling items to consumers or businesses. This basic job description is part of several pricing analyst jobs, each one having its own unique variations and specialties.
One of these pricing analyst jobs involves any pricing analyst working for a retail store or manufacturer. It is this person’s job to investigate manufacturer costs, development costs, and to research competitors’ prices to determine market trends with a given item or good. He may also negotiate transactions with vendors. This can include haggling for a better price, developing partnerships, and securing contracts.
Senior pricing analysts are another important part of any sales team. In comparison to other pricing analyst jobs, these people have the most responsibility. It is a senior pricing analyst's job to oversee other pricing analysts on his team, assist in researching new products, and direct members in separate divisions on what items to analyze. This position is primarily available at large corporations that deal with multiple transactions simultaneously.
Another of the pricing analyst jobs involves working directly with customers or clients. This person may help clients price goods or services, help them add up total costs for larger projects, send invoices after project completion, and observe buying trends within the confines of the company for which he works. It may also be necessary to advise senior personnel or owners on which items to raise prices on, which to lower, and which to maintain at the current prices.
Pricing analyst jobs can also be categorized by industry. For example, a laundry price analyst is someone who works in a dry cleaning business and keeps track of customer orders, competitors pricing, and buying habits. There are also price analyst jobs in clothing stores, publishers, and virtually any other industry where goods are bought and sold.
Additionally, it is not uncommon to have one person acting out several price analyst jobs at once, as well as accounting responsibilities, customer service, or sales. In many cases, especially in small to midsized companies, the owner or manager may act as all of these professionals in one.