Share this Job

Pricing Manager

Date: 01-Aug-2022

Location: QA

Company: Majid Al Futtaim

Majid Al Futtaim invites you to join us in our quest to create great moments for everyone, everyday! We are the leading shopping mall, residential communities, retail and leisure pioneer across the Middle East, Africa and Asia, serving over 560 million visitors a year. For the past two decades, we have shaped the consumer landscape across the region, transforming the way people shop, live and play, while maintaining a strong sustainability track record and the largest mall in the world to attain LEED Gold EBOM Certification. We have over 40,000 team members in 15 international markets representing over 100 nationalities – all keeping the customer at the heart of everything we do. If you enjoy being BOLD, PASSIONATE and TOGETHER, then Majid Al Futtaim is the destination for you.

Role Purpose:

Responsible for the proper incorporation of the price in the pricing mix being aligned with the company strategy in order to meet the set targets and to remain competitive in the market.

Role Details – Key Responsibilities and Accountabilities:

 

  • Assets:  

 

  1. Develop/review policies, procedures and processes of pricing, manage pricing procedure, enhance processes and improve efficiency to ensure timely response to market conditions.

 

  1. Determine the feasibility and the optimal pricing for new products, thus working closely with the sourcing team

 

  1. Monitor pricing to ensure the objectives are achieved, analyse financial impact of price approach in view of overall history and take corrective measures

 

  1. Ensure proper price positioning of Private labels (chaining and cloning)

 

 

  • Humans:

 

  1. Be a role model and ensure the application of  Majid Al Futtaim Retail corporate policies and guarantee  the implementation of all laws , regulations and cultural practices of the operating countries are followed and respected

 

  1. Practices the company values and Guarantees the same is respected and followed by the department team members

 

  1. Responsible for the Performance Management of the team
  • setting particular objectives for the direct reports - once a year - which are in-line with the company and department targets
  • carrying out performance analysis with regular feedback to direct reports
  • Identify employees with high potential, growth and proposes further development
  • Identify and recommend training needs for the team and follow up on the implementation
  • Develop and implement on the job-training for the team

 

  1. Promotes and practises communication and participatory management within the team

 

 

  • Merchandise:

 

 

  1. Monitor competitors’ prices for similar products and recommend / take corrective actions

 

  1. Ensure that the price is following the Margin Mix and its proper incorporation with the commercial strategy

 

  1. Review the pricing analysis on a monthly basis and work on the development of the price sensitivity list

 

  1. Review the sensitivity report to analyse the reaction of direct competitors

 

  1. Monitor and analyse the sections/department profitability for every pricing strategy (different zones or clusters)

 

  1. Prepare, communicate & control “Locked Price Basket” sent to Ministry of Economy

 

  1. Receive new cost price update from suppliers and implement its new selling prices taking into consideration price

 

  1. Blocking selling prices of specific categories (e.g. Cigarettes, Make-Up) in order to secure margins

 

  1. Define direct competitors of each store and communicate a clear schedule of the pricing survey

 

 

  • Finance:

 

  1. Define the “Mass Margin” and the margin by Family/Sub Family taking into consideration category role to ensure high profitability by remaining competitive

 

 

  1. Set appropriate control mechanism to ensure budget compliance and take corrective measures when necessary

 

  1. Respect the procedures in accordance with the DOA

 

  1. Propose and take necessary measures towards continuous reduction of the operational costs

 

Disclaimer: This role description reflects the general details considered necessary to describe the principal responsibilities of the role identified and shall not be construed as an exhaustive description of all the work requirements inherent to success in the role.

 

Functional/Technical Competencies

  • Good Communication and Presentation Skills
  • Computer proficiency: - MS Office
  • Time Management
  • General Product Knowledge is an advantage

 

Personal Characteristics and Required Background:

Minimum Qualifications/education

  • Bachelor Degree in Commerce, Finance or Marketing

Minimum experience

  • 4+ year professional experience in finance or Pricing
  • 3+ year experience in Retail or managerial role

Preferred Languages

  • Arabic (Limited working proficiency - Preferred)
  • English (Full professional proficiency - Required) Country Language where applicable