Senior Product Manager

Job Description

Job Description

IDEAL INDUSTRIES, INC. has built a reputation for over a century by crafting iconic tools and practical technology required in aerospace, data communications, electrical, wire processing and construction. The global family of IDEAL brands includes IDEAL Electrical, Anderson Power, and Enatel.

A vibrant and dynamic company, IDEAL is best known for our wire connectors, the gold standard for making electrical connections around the world. Nearly every commercial jet is assembled using IDEAL wire strippers and, as part of the critical equipment on NASA missions, our tools even help NASA astronauts fly to the moon. Most important, our products benefit skilled tradespeople, who reach for IDEAL tools every day.

IDEAL is propelled by the concept of Building an IDEAL World. Our family-run business is committed to building ideal relationships with customers, employees, and communities by crafting some of our industry’s most innovative and trusted tools.

* Hybrid role that requires working onsite at the Sycamore, IL location 2 days per week

The Senior Product Manager has a critical role in the success of IDEAL Electrical. This individual will initiate and lead the end user research and development of new products for their product lines and expand our understanding and position of IDEAL in the marketplace. He/She will lead a cross-functional team of Engineering, Channel, Marketing, Sales, and Operations to ensure our products provide differentiated value to our end users and solve their most pressing needs. The Senior Product Manager will be the subject matter expert and responsible for business and portfolio strategy, product lifecycle management, tracking changes in market share, team execution, and working with our Channel and Sales team to deliver on our annual and strategic plans.

Responsibilities:

• Lead all product lifecycle initiatives from ideation through commercialization and discontinuation.
• Oversee market and competitor research and analyze data to inform and drive the product strategy.
• Be the subject matter expert in the competitive landscape (including the analysis and comparison of pricing, product features, performance, applications, and innovation) and develop strategies to winning differentiate IDEAL in the marketplace.
• Identify target audiences and develop value propositions for their portfolio of products which align with marketing initiatives and communications.
• Lead the development and execution of marketing plans to support their product strategy partnering with marketing ops and digital marketing teams.
• Work with and influence Sales and Channel teams to develop plans to meet annual sales objectives.
• Work with the Channel Marketing team to strategize, develop and implement IDEAL Electric pricing strategies for all channels that carry their products.
• Support Channel and Sales leaders with Product Line Reviews (PLRs), and sales / customer training opportunities as needed.
• Complete NPD stage gates on time to ensure product launches are timely and profitable.
• Work with Engineering, Supply Chain, and Operations to address roadblocks with urgency during development.
• Lead development of research plans to clearly articulate end user pain points and establish clear Marketing Requirements during NPD business cases.
• Develop go to market commercialization strategies with the Channel team to maximize new product opportunities.
• Lead Marketing Operations and Digital Marketing teams to ensure commercial launch plans are established and executed.
• Other duties as assigned by management.

Qualifications:

• Bachelor’s degree in a related field with a minimum of 10+ years product management experience. MBA is a plus.
• Proven track record of achieving revenue growth & profitability through marketing excellence with technical consumer durable goods.
• Experience working in a fast-paced, innovative environment with a sense of urgency for delivering new products to market.
• Experience in working for a manufacturing or product driven company.
• Knowledge and successful application of 80/20 and product line simplification.
• Travel of up to 25% as needed.
• Experience in durable goods, or within the tools/hardware industries.
• Previous experience developing short- and long-range strategic plans for both business and product

The expected salary for this position is between $124,560.00 and $167,849.00 and will be eligible for incentive pay. This range represents a good faith estimate for the position and actual compensation will be based on numerous factors including knowledge, location, skills, training and experience.

IDEAL employees enjoy a wide range of valuable benefits including:

• Medical, Dental & Vision Insurance
• Education Reimbursement
• Wellness Programs
• 401k with Company Match
• Cash Balance Pension Plan

IDEAL values rest, personal time and community involvement facilitating these through several paid time off programs including:

• Vacation
• Personal Days
• Volunteer Time
• Holidays
• Parental Leave

IDEAL INDUSTRIES, INC. is proud to be one of Newsweek’s Global Top 100 Most Loved Workplace s and an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status. We know when you honor relationships, success for all will follow. To learn more about us, visit