Product Development and Market Strategist

Responsibilities:

Market Analysis:

• Conduct thorough market research to identify trends, pricing strategies, and competitive activities.
• Analyze customer feedback and sales data to understand current needs, market gaps, and opportunities for product innovation.
• Evaluate competitor products, strategies, and pricing to inform product development and market positioning.

Idea Generation:

• Proactively gather insights from customers, vendors, and internal teams to identify potential new products and services.
• Assess unmet market needs and customer requests to generate product ideas that solve real-world problems.
• Collaborate with cross-functional teams to brainstorm and develop new business and product opportunities.

Concept Development:

• Lead the process of concept testing through customer feedback, prototype development, and vendor communications.
• Collaborate on packaging, pricing, and product design to align with market demands and business objectives.
• Manage the product development cycle, ensuring timelines, cost targets, and quality standards are achieved.
• Manage overall product lifecycle from conceptualization to end of life.

Commercialization:

• Develop and execute go-to-market strategies to launch new products effectively.
• Partner with sales, marketing, and product teams to ensure a seamless transition from concept to market launch.
• Assist Marketing with the development of compelling sales and marketing materials to support commercialization efforts.

Target Market Definition:

• Define target markets and develop ideal client profiles based on market research and customer insights.
• Ensure that products and business strategies align with the needs of these key market segments.

Business Development:

• Identify and pursue new business opportunities to expand market reach and customer base.
• Build strong relationships with potential partners, customers, and industry stakeholders.
• Represent Master Magnetics at industry events, trade shows, and networking opportunities to promote the brand, generate leads, and assess the competition.
• Develop strategies to drive business growth, market penetration, and sales expansion across different customer segments.

Product Forecasting:

• Predict market demand for new and existing products to assist in inventory planning and product lifecycle management.
• Collaborate with finance and operations teams to ensure accurate forecasting and demand planning.

Qualifications:

• Bachelor’s degree in Marketing, Business, or a related field.
• 5+ years of experience in product development, market analysis, business development, or a related role.
• Strong business acumen with the ability to identify and act on new opportunities for growth.
• Creative, strategic thinker with excellent problem-solving and analytical skills.
• Strong communication and interpersonal skills, with a proven ability to work cross-functionally and build relationships.
• Experience in managing projects from concept through to commercialization.
• Curious, open-minded, and driven by a desire to innovate and win in the market.
• Retail distribution experience is a huge plus

Salary & Benefits:

• $90-$120k base salary, based on experience, plus bonus potential
• 401k with company matching
• Health, dental, vision, and life insurance
• 7 paid holidays per year and paid time off
• Health maintenance incentive, educational reimbursement
• 15% travel expectation