Product Manager

INTRODUCTION and WHAT YOU WILL DO (Job Responsibilities)

Product Manager for Matco Tools is responsible for the development of new products and existing product improvements including the financial, engineering, purchasing and manufacturing aspects involved in the planning and successful market introduction and subsequent commercialization and maintenance of these products. The position is also responsible for achieving revenue, profit margin and key operational targets.

This is a hybrid role from our Stow, Ohio stie with the expectations of being onsite Tu-Th.

KEY RESPONSIBILITIES:

• Develop and executes a 3–5-year product segment strategy and plan with respect to new product development; price / margin realization; sales, margin, and expense forecast; line pruning, cost reduction and other “health” (QDCI) issues of assigned.
• Develops and executes new product plan in support of target market segment plan. Components to include Product Specifications for the targeted market; inventory requirements; three years unit sales; pricing; required capital expenditures; introduction schedule; Return on Investment; competitive comparisons; and the marketing plan and positioning strategy.
• Responsible for development and execution of annual marketing plan in cooperation with Marketing Communications Manager and Program Manager.
• Maintains current knowledge of market trends, technologies, competitors, customer base, market size channels of distribution, market share of product lines, industry trade associations and required product certifications for developing business in a targeted market segment.
• In cooperation with Engineering and Operations, manages the product development process for both new and existing products across all market segments for assigned product lines.
• Establishes market price of assigned products. Consults with channel managers, sales, finance and manufacturing for most effective and profitable pricing of products.
• Liaise between sales and inventory management for the development of PSI forecasts and financial forecasts for assigned lines.
• Measure assigned product line performance against market via establishment of proxies, data collection process and analysis of said.
• Serve as a resource to Sales during field visits and customer meetings.
• Determines criteria used in product development. Incorporates customer voice in determining new product development criteria and product improvements for the product portfolio.
• Obtains technical opinions and estimates of time and costs of product development and coordinates all activities relative to the development process.
• Recommends criteria for testing newly developed products, reviews test results and recommends necessary alteration of testing or product.
• Conducts competitive benchmarking activities and supplies appropriate analysis to the organization.
• Responsible to ensure that product training efforts of internal and external customers are consistent with product segment objectives and positioning.