Product Manager Precision Measurement Tools
The Product Manager Precision Measurement Tools (PMT) is tasked to generate maximum growth, profit, and return on assigned assets. Responsible for managing the complete product lifecyle, the Product Manager will identify potential products; conduct market research; generate product requirements; determine specifications, production timetables, pricing, and time-integrated plans for product introduction; develop marketing strategies that drive product demand, and rationalization projects.
Responsible for outbound marketing activities including crafting the message and positioning for products. Develop and implement innovative marketing programs that drive demand, pricing and promotional activities.
Prime Duties and Responsiblities:
1. Develop a clear understanding of the business economics for the managed market segment. At a minimum, the successful Manager will have command of the following Company information:
· Major Cost and expense elements
· Actions which most impact cost and profit, and how these economies compare with competitors
· Operational costs which vary with volume
· General operation cost which influence margin
2. Compile & Chronical Competitive Market Information
· Library competitors sales volume, product offering, market strategy
· Define market channels and margin structure
· Research total market potential and market trends
3. Define and present Precision Tool products and pricing for Starrett promotinal programs
· Highlight product features and benefits to enable the development of product catalogs, concepts for sell sheets and other marketing collateral materials.
· Provide product / PIM information for: #removed#, ensure up-to date, accurate information
· Attend to: regular market segment profitability analysis.
4. Product Management -Pinpoint poor product performers with low gross margins and initiates actions to:
· Raise profitability when possible
· Suggest product enhancements to increase market demand
· Consider applicable resourcing of product to Strategic Purchasing
· Discontinue product
· Devise other possible solutions.
5. Facilitate Sales Revenue- identifiy good profit performers with high margins. Initiate action to:
· Increase selling and promotional emphasis to gain immediate, high margin market share
· Collaberate and meet regularly with other Starrett business units to collect and share global market data, discuss new product ideas and monitor global competitive activity
· Develop an annual Product strategy map AND a three year plan for the assigned market segment
· Correct and complete set-up of new products in the Oracle ERP system
6. Support Activity
· Visit key distributors and end users
· Assist the sales team in presenting the product line and programs
· Work with sales to select products for trade shows
· Ensure promotional materials are in place and show personnel are trained on features and benefits of new products.
· Provide monthly demand planning data for top products. Anaylysis to consider promotional activities, large new opportunities, new product and business lost.
· Develop training material for employees, representatives and distributors.
Working with cross-functional teams, the Product Manager is the central point of contact to achieve desired results.
Sales: To implement specific sales programs, ensure emphasis on assigned products and to obtain continuous, meaningful feedback from the marketplace. Work with Regional Managers, Territory Managers and Product Specialist to evaluate target accounts and achieve market penetration in specific channels.
Production: Provide sales forecasts and regular inventory reviews so as to effectively manage, product availability and product cost.
Product Development: Provide market input and set priorities for new products. Provide ideas to facilitate product enhancement and cost/margin improvement.
Finance: Understand and manage business economics to obtain current, meaningful reports of cost structure and profitability on asset segments. Monitor results achieved on new product development
Marketing: Develop specific promotional plans for the upcoming business year. Determine the budget dollars, define clearly the objectives of such a plan and note the expected return. Monitor results and when necessary, take quick action to cancel promotional efforts, if results are not achieved.
Purchasing: Monitor inventory levels for assigned products ensuring adequate turns and service levels. Provide demand planning input for key products.
Executives: Take direction from executive team as corporate-wide objectives are established, and react by adjusting marketing plan as necessary to comply.
The selected candidate will have a four year college degree in business, marketing or related discipline and will have a minimum of five years’ experience in the Industrial, Construction channels of North America.
Starrett tools are essential for the many products that are measured, cut, formed or assembled. They are used in a broad range of manufacturing facilities as an essential part of metalworking, the manufacturing of durable goods, for working with exotic materials and in a wide variety of traditional and newer industries such as electronics, aerospace, energy and many others. Starrett products are sold throughout the United States and worldwide through distributors, dealers, and retailers and online. In recent years, the Company has broadened its product offering through acquisitions and innovative product line expansion. Today, Starrett has eight manufacturing locations worldwide: Brazil, The U.K. and China and five in the United States. See Manufacturing Facilities Worldwide for more detailed information. Annual sales of the company are in the vicinity of $250 million and the company is traded publicly on the NYSE.
Role: Product Manager
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