Product Manager- Hybrid!

Klein Tools•Lincolnshire, IL

1d•Hybrid

About The Position

The Product Manager is responsible for developing and executing product strategy plans, including 3-year life-cycle plans that fit the company's selling tactics, distribution channels, strategy, and financial goals on large volume, strategically important product categories. This position ensures timely execution of marketing plans and effectively communicates critical information. This position will supply market and product data, analysis, and recommendations as needed. This position is responsible for understanding competitive product lines and can compare and contrast product features and benefits with a compelling selling story. This position is also responsible for understanding, initiating, and utilizing all tactical business drivers to obtain financial objectives. Develop short- and long-term product plans designed to deliver growth and profit performance that aligns with the overall goals of the organization. Prepare annual plans for each major product line. Responsible for achieving plans for each major product line. Provide strategic, specific, and targeted recommendations for growth as the recognized expert in the competitive environment, existing internal capabilities, and potential new capabilities. Seek out, evaluate, and prioritize opportunities for product improvements, product line additions, new markets, improved merchandising, promotions, and other growth prospects. Responsible for maintaining a product line portfolio strategy that includes a 3-year product life-cycle plan that will include new product launches, product modifications, promotions, and end-of-life discontinuations. Provide direction and ensure timely execution of marketing plans including product launches, product modifications, and promotions to drive sales of products. Display leadership qualities when working with cross-functional teams and internal departments. Drives effective communication and collaboration within the organization. Foster good working relationships among team members and other functional contacts. Mentor less experienced Product Management personnel. Market & end-user expert through interaction with sales people, distributors, and end users through a variety of venues. Collect and maintain market information. Conduct market research as necessary. Spend 10% of time in the field and documents this time and how and where it is spent learning about customer needs. Serve as the product expert on performance, functionality, pricing, packaging, merchandising, and value propositions to internal and external customers. Provide product-related assistance to other areas of the company as needed. Provide monthly narrative on major product line performance to plan focusing on product lines that are significantly above or below plan along with corrective actions. Provide recommendations for delivering growth. Perform all other duties as assigned.

Requirements

Bachelors Degree in business or related technical field.
Five (5) years relevant experience in consumer goods product management OR a minimum of three (3) years product management combined with five (5) years of other relevant business experience.
Knowledge managing budgets, forecasts, and business plans to achieve financial objectives.
Knowledge in identifying and justifying a growth opportunity, then launching new product lines and working with a stage-gate development process.
Strong communications skills, verbal and written.
Proficiency with Microsoft Office (Excel, Outlook, PowerPoint, Word).
Ability to understand basic financial calculations.
Ability to understand simple market research techniques.
Ability to understand basic implementation of marketing activities (PR, Advertising, Promotions, POP, Packaging).
Ability to develop strategic plans (pricing strategy, brand positioning, competitive analysis) with limited assistance.
Exposure to various manufacturing/sourcing supply chains.
Basic project management proficiency.
Ability to be an effective team player that takes initiative and ownership, while influencing cross-functional teams.
Willingness and ability to travel internationally as needed.

Nice To Haves

MBA or other relevant advanced degree preferred.

Responsibilities

Developing and executing product strategy plans, including 3-year life-cycle plans.
Ensuring timely execution of marketing plans.
Supplying market and product data, analysis, and recommendations.
Understanding competitive product lines and comparing/contrasting features and benefits.
Understanding and utilizing tactical business drivers to obtain financial objectives.
Developing short- and long-term product plans for growth and profit.
Preparing annual plans for each major product line and achieving those plans.
Providing strategic recommendations for growth.
Seeking out, evaluating, and prioritizing opportunities for product improvements, additions, new markets, merchandising, and promotions.
Maintaining a product line portfolio strategy with a 3-year product life-cycle plan.
Providing direction and ensuring timely execution of marketing plans for product launches, modifications, and promotions.
Displaying leadership qualities when working with cross-functional teams and internal departments.
Driving effective communication and collaboration within the organization.
Fostering good working relationships among team members and other functional contacts.
Mentoring less experienced Product Management personnel.
Acting as a market and end-user expert through interaction with sales, distributors, and end users.
Collecting and maintaining market information and conducting market research.
Spending 10% of time in the field to learn about customer needs.
Serving as the product expert on performance, functionality, pricing, packaging, merchandising, and value propositions.
Providing product-related assistance to other areas of the company.
Providing monthly narrative on major product line performance to plan, focusing on significant deviations and corrective actions.
Providing recommendations for delivering growth.
Performing all other duties as assigned.